Sunteck Realty to Lead Rs 11 Bn Redevelopment in Andheri East

31 May 2025 CW Team

Sunteck Realty has been appointed as the developer for the redevelopment of a housing society located in Mumbai’s Andheri (East). The project carries an estimated gross development value (GDV) of Rs 11 billion.

Spanning approximately 2.5 acre (10,290 square metre), the land is strategically situated near the Western Express Highway. According to the company’s stock exchange filing on May 29, the project is expected to offer around 2.75 lakh square feet of free sale area—referring to the portion of the development available for sale in the open market after fulfilling the housing requirements of existing tenants.

The redevelopment will be executed through Sunteck’s wholly owned subsidiary and is expected to be completed within three to four years from the start of construction to the handover to the society.

Sunteck Realty stated that the entire project would be financed through internal accruals. As of FY25, the company reported a net debt-to-equity ratio of -0.04x, indicating a net cash surplus of Rs 1.25 billion.

Andheri (East) remains a key residential and commercial hub in Mumbai. During the first quarter of calendar year 2025 (Q1 CY25), the area recorded 290 new sale transactions amounting to a gross sales value of Rs 4.51 billion, as per data from Square Yards Data Intelligence.

The average property rate in the locality stood at approximately Rs 35,163 per sq ft in Q1 CY25, showing a slight dip from Rs 35,374 per sq ft in Q1 CY24. Meanwhile, rental rates hovered around Rs 77.9 per sq ft.

Earlier, in Q4 FY25, Sunteck Realty reported its highest-ever pre-sales of Rs 8.70 billion, marking a 28.32 per cent year-on-year increase. Collections during the same period rose to Rs 3.10 billion, compared to Rs 2.96 billion in Q4 FY24.

Infrastructure Urban

05 Sep 2025

Hindustan Zinc Cuts Freshwater Use by 28%, Saves 71 Billion Litres

Hindustan Zinc, India’s only and the world’s largest integrated zinc producer, has reduced its freshwater use by 28 per cent over the past decade, recycling 71 billion litres of treated sewage water between FY2016 and FY2025. This volume could meet Udaipur’s water needs for more than 500 days. Operating in water-stressed Rajasthan, the company has achieved 3.32 times water positivity by treating and reusing all process water in operations. In partnership with the Government of Rajasthan, Hindustan Zinc pioneered Udaipur’s first Sewage Treatment Plant (STP) in 2014 under a PPP mode..

Atlassian Expands India Presence with New R&D Centre in Bengaluru

Atlassian, a leading provider of team collaboration and productivity software including Jira, Confluence, and Loom, announced the opening of its new R&D Centre in Bengaluru. Spanning over 2 lakh sq ft, the facility is four times larger than its previous office and designed to accommodate more than 1,000 employees, reinforcing India’s position as a strategic hub for the company’s global R&D efforts. Since entering India in 2018 with a 60-member team, Atlassian has grown to employ over 2,500 people, its largest workforce outside Australia and the US. Nearly 75 per cent of its In..

Construction leaders recognised: L&T, ITD, Afcons, NCC

Mumbai Metro Line 3 soon to start,” said Ashwini Bhide, Principal Secretary to the Chief Minister of Maharashtra and Managing Director, Mumbai Metro Rail Corporation (MMRC), during her fireside chat with Pratap Padode at the 23rd Construction World Global Awards (CWGA) 2025. Her announcement struck a chord with the audience, resonating with what Dr Sanjay Mukherjee, Commissioner of the Mumbai Metropolitan Region Development Authority (MMRDA), had earlier shared in his keynote address: that Mumbai’s transformation was not just about megaprojects, but also about delivering them sustainably a..