Saturday , October 16 2021

Sunteck Realty shines on planning to develop land parcel at Shahad

Sunteck Realty is currently trading at Rs. 432.80, up by 6.10 points or 1.43% from its previous closing of Rs. 426.70 on the BSE.

Sunteck Realty

The scrip opened at Rs. 434.00 and has touched a high and low of Rs. 449.00 and Rs. 430.05 respectively. So far 46731 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 449.00 on 16-Sep-2021 and a 52 week low of Rs. 244.05 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 449.00 and Rs. 377.50 respectively. The current market cap of the company is Rs. 6246.65 crore.

The promoters holding in the company stood at 67.15%, while Institutions and Non-Institutions held 25.28% and 7.56% respectively.

Sunteck Realty is planning to develop a marquee 50-acre land parcel at Shahad (Kalyan). The company would develop an aspirational luxury integrated residential township in this location, under the asset light JDA model with Amar Dye Chem. This would be another exceptional acquisition by the company, establishing its presence in the Eastern suburbs of Mumbai Metropolitan Region (MMR).

The project is expected to generate a top line of around INR 9,000 crore over the next 7-8 years, further strengthening the cash flow and the balance sheet of the company. While Sunteck Realty has a very strong portfolio in the Western suburbs of the MMR, this project addition will strengthen the company’s portfolio in Eastern markets of the MMR as well.

Sunteck Realty is a Mumbai-based real estate development company, catering to the premium ultra-luxury and luxury residential segment.

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