+
Sunteck to launch 7 projects of Rs 22k cr revenue in next 5-8 yrs
Real Estate

Sunteck to launch 7 projects of Rs 22k cr revenue in next 5-8 yrs

Mumbai-based Sunteck Realty Limited (SRL) will launch seven projects in and near Mumbai Metropolitan Region (MMR) in next five to eight years with Rs 22,000 crore potential revenue.

These seven projects of Sunteck will be one of the largest realtors.The company has developed the first Uber Apartment Town in the district of Bandra Kurla Complex (BKC) in the last 10 years.

Kamal Khetan, Chairman and Managing Director of Sunteck Realty, told the media that the company acquired land banks for five major real estate residential projects in Vasai West, Vasind, Borivali West, Shahad in Kalyan and Pen-Khopoli in the last 18 months. These projects have a development potential of 23 million sq ft and can fetch nearly Rs 20,000 crore in the next 7-8 years.

He said that the company would launch the next phases of Sunteck World in the North-west suburbs of Naigaon and Sunteck City in Goregaon West with a revenue potential of Rs 2,000 crore in the next 4-5 years.

Additionally, these projects can generate Rs 1,250 crore in FY23, with a total revenue potential of Rs 3,400 crore during the first phase.

The company will launch the first phase of these projects in FY23, with an inventory worth Rs 4,650 crore, expecting a 30% sales target for FY22 and FY23 and a pre-sales target of Rs 2,000 crore by the end of FY23.

The company has acquired the maximum number of projects or land banks in the last 18 months, strengthening its MMR market presence and becoming one of the fastest-growing real estate companies in the megapolis.

The acquisitions also include a 50 acres land parcel at Shahas, Kalyan, having potential development of 10 million sq ft of the integrated residential township and revenue potential of Rs 9,000 crore in Vasai West, having a development potential of 4 million sq ft and revenue potential of Rs 5,000 crore.

The company's waterfront plot for luxury residences at Vasind, Borivali West, has a potential development of 2.6 million sq ft and a revenue potential of Rs 2,000 crore.

Khetan said that these residential projects could sell 23 million sq ft and generate Rs 22,000 crore revenue.

Recently, the company recorded pre-sales of Rs 352 crore in the third quarter (Q3) of FY22, up by 29% and Rs 800 crore in the first three-quarters of FY22.

Image Source

Also read: Sunteck Realty plans JDA to develop 10 mn sq ft at Shahad (Kalyan)

Also read: MMRDA sought SPA for the development of some MMR regions

Mumbai-based Sunteck Realty Limited (SRL) will launch seven projects in and near Mumbai Metropolitan Region (MMR) in next five to eight years with Rs 22,000 crore potential revenue. These seven projects of Sunteck will be one of the largest realtors.The company has developed the first Uber Apartment Town in the district of Bandra Kurla Complex (BKC) in the last 10 years. Kamal Khetan, Chairman and Managing Director of Sunteck Realty, told the media that the company acquired land banks for five major real estate residential projects in Vasai West, Vasind, Borivali West, Shahad in Kalyan and Pen-Khopoli in the last 18 months. These projects have a development potential of 23 million sq ft and can fetch nearly Rs 20,000 crore in the next 7-8 years. He said that the company would launch the next phases of Sunteck World in the North-west suburbs of Naigaon and Sunteck City in Goregaon West with a revenue potential of Rs 2,000 crore in the next 4-5 years. Additionally, these projects can generate Rs 1,250 crore in FY23, with a total revenue potential of Rs 3,400 crore during the first phase. The company will launch the first phase of these projects in FY23, with an inventory worth Rs 4,650 crore, expecting a 30% sales target for FY22 and FY23 and a pre-sales target of Rs 2,000 crore by the end of FY23. The company has acquired the maximum number of projects or land banks in the last 18 months, strengthening its MMR market presence and becoming one of the fastest-growing real estate companies in the megapolis. The acquisitions also include a 50 acres land parcel at Shahas, Kalyan, having potential development of 10 million sq ft of the integrated residential township and revenue potential of Rs 9,000 crore in Vasai West, having a development potential of 4 million sq ft and revenue potential of Rs 5,000 crore. The company's waterfront plot for luxury residences at Vasind, Borivali West, has a potential development of 2.6 million sq ft and a revenue potential of Rs 2,000 crore. Khetan said that these residential projects could sell 23 million sq ft and generate Rs 22,000 crore revenue. Recently, the company recorded pre-sales of Rs 352 crore in the third quarter (Q3) of FY22, up by 29% and Rs 800 crore in the first three-quarters of FY22. Image Source Also read: Sunteck Realty plans JDA to develop 10 mn sq ft at Shahad (Kalyan) Also read: MMRDA sought SPA for the development of some MMR regions

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?