+
Sunteck Realty to Lead Rs 11 Bn Redevelopment in Andheri East
Real Estate

Sunteck Realty to Lead Rs 11 Bn Redevelopment in Andheri East

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code