Total development potential of about 1 million sq. feet spread across Residential and Commercial space
Mumbai, January 22, 2015: Sunteck Realty Limited, Mumbai’s premier real-estate company catering to the premium and ultra premium segment in the residential and commercial space is going to launch 4 projects in Borivali, Andheri, Bandra Kurla Complex and Navi Mumbai this quarter. The total development of about 1 million sq. feet for the proposed projects will translate to a revenue potential of over Rs 1000 crore in the next 2-2.5 years.
The company expects good demand in its western surburb based projects on the back of the delivery of its flagship project ‘Signature Island’ and fast progress at its Avenue I at ‘Sunteck City’ in Goregaon spread over 23 acres. The Navi Mumbai project will be the company’s second launch in the location post the delivery of ‘Signia Oceans’ which is one of the tallest premium luxurious structures in the area.
Commenting on the launches, Mr. Kamal Khetan, Chairman and Managing Director of Sunteck Realty Ltd. said, “These launches have been an extension of our strategy to provide premium residential projects in robust micro markets of Mumbai. We are very upbeat on the acceptability of all our new launches, as we have picked the most upcoming and habitable locations across Mumbai. Further, these iconic projects will be recognized as landmark properties, showcasing a perfect blend of world-class construction, exquisite design and sophisticated living experience”.
About Sunteck Realty
Sunteck Realty Limited (SRL) is a Mumbai-based real estate development company, catering to the ultra-luxury and luxury residential segment. SRL boasts of a city centric development portfolio of about 25 million square feet spread across 24 projects at various stages of development and 4 rented assets. Of the said portfolio, the company within a span of 4 years has completed 6 projects with a developed area of about 2 million square feet comprising of residential and commercial developments. SRL is renowned for its strong project execution skills through an in-house project management team and strategic tie-ups/associations with domestic/International contractors, architects, engineers and brand partners. SRL works with renowned brands like Walt Disney, L&T and Talathy & Panthaky to name a few to provide a unique residential experience to its customers.
Flagship project of the group, spread across 1.5 million sq ft. at the CBD of Mumbai, Bandra Kurla Complex comprises of three residential projects: Signature Island, Signia Isles and Signia Pearl which are home to some of the head honchos of top global conglomerates. Other key projects include 23 acres of mixed-use development in Goregaon (W) in the form of Sunteck City, Sion, Mulund amongst other locations in Mumbai, Navi Mumbai, 81 acres in Jaipur, Nagpur and Goa in India.
Listed on BSE and NSE, SRL has respected names like Ajay Piramal Group, Kotak Realty Fund and noted pension funds, FIIs and Private Equity Funds as its shareholders and strategic partners The company is known for its prudent cash flow management and low leveraged balance sheet.