Sunteck Realty Limited
TypePublic limited company
NSE: SUNTECK
BSE: 512179
IndustryReal estate
Founded1981
FounderKamal Khetan
HeadquartersMumbai, Maharashtra, India
ServicesDevelopment of commercial and residential properties[1][2]
WebsiteOfficial website

Sunteck Realty Limited is a Mumbai-based real estate and construction company.[3][4][5][6] It is engaged in construction, development and management of commercial and residential properties. The company is known for its high-end residential properties which are classified under different brand names: Signature for ultra-luxury properties, Signia for luxury properties and City for mid-segment properties.[7][8] Among its notable projects is Signature Island in Bandra Kurla Complex, Mumbai.[9] The company has received Ultra Luxury Project of the Year in 2017[10] and NDTV Property Award for Signature Island in 2016.[11] The company has been listed as a Fortune Next 500 company for the year 2017, 2018, 2019 and 2020.[12][13]

Background

The company was set up by Kamal Khetan[9] in 1981. In March 2009, it came into a partnership with Oman based WJ Towell Group and Piramal Group and formed a 51:49 joint venture with Bank of Muscat for developing real estate projects in Oman.[14] In November 2009, Sunteck raised ₹1.58 billion through QIP. In 2013, Piramal Group acquired a 3.5 per cent stake in the company.[15]

It received an investment of $22.4 million from KKR for two residential projects of Sunteck Realty in February 2016.[16] It has secured ₹650 crore through QIP in 2017.[17][18] In November 2019, it was reported that the company sold around 2,000 flats at its Sunteck World project in Naigaon, Mumbai.[19]

Awards

YearAward(s)ProjectAwarding organisationResultRef.
2016Property AwardsSignature IslandNDTVWon[20]
2017Ultra Luxury Project of the YearSignature IslandRealty Plus Excellence AwardsWon[21]
2018Developer of the Year – ResidentialRealty Plus Excellence AwardsWon[22]

References

  1. ↑ Ramnani, Vandana (27 February 2018). "Sunteck Realty to focus on acquiring distressed projects in both affordable and luxury segments". Moneycontrol. Retrieved 11 June 2022.
  2. ↑ "Sunteck Realty to jointly develop 100-acre affordable housing project near Mumbai – ET RealEstate". ETRealty.com. Retrieved 2 July 2020.
  3. ↑ "Mumbai's New-Age Builders want a Room at the Top". Forbesindia.com. 10 February 2010.
  4. ↑ "A High-Rise Race in Mumbai". wsj.com. 2 April 2015.
  5. ↑ "Piramal, Sunteck Close to Buying Mafatlal Land". WSJ.com. 11 April 2011.
  6. ↑ "Sunteck sees good home demand at lower prices". Fortuneindia.com. 13 November 2017.
  7. ↑ Shaikh, Ateeq (16 May 2018). "Sunteck Realty plans Rs 2,500 crore acquisitions in Mumbai". DNA India. Retrieved 2 July 2020.
  8. ↑ Nandy, Madhurima (17 September 2019). "Sunteck Realty, Transcon sign joint development deal for premium Mumbai project". Livemint. Retrieved 2 July 2020.
  9. 1 2 "Making millions from marshes". Fortuneindia.com. 18 July 2017.
  10. ↑ "9th Realty Plus Excellence Awards- West". Realtyplusmagcom. October 2017.
  11. ↑ "Property Awards Winners 2015". NDTV.com. Retrieved 3 July 2019.
  12. ↑ "The Next 500". Fortuneindia.com. 2017.
  13. ↑ "The Next 500". Fortuneindia.com. 2020.
  14. ↑ "Sunteck Realty inks pact with Omani company". Tribuneindia.com. 19 April 2008.
  15. ↑ "Piramal buys 3.5% stake in Sunteck Realty for around ₹65 cr". thehindubusinessline.com. 20 March 2014.
  16. ↑ Babar, Kailash (4 February 2016). "KKR Invests Rs. 150 cr in 2 Sunteck Realty Projects". epaperbeta.timesofindia.com.
  17. ↑ Babar, Kailash (27 October 2017). "Sunteck Realty raises over Rs 650 cr via QIP, capital infusion". economictimes.indiatimes.com.
  18. ↑ "Sunteck Raises Over Rs 650 cr to Fund its Expansion Plans". epaperbeta.timesofindia.com. 28 October 2017.
  19. ↑ Lall, Pavan (13 November 2019). "Premium realty players flock to affordable housing as prices rationalise". Business Standard.
  20. ↑ "Property Awards Winners 2015". awards.ndtv.com.
  21. ↑ "Sunteck Realty wins two awards". business-standard.com. 30 September 2017.
  22. ↑ "Sunteck Realty awarded Developer of the Year for residential, 2018". zricks.com. Retrieved 15 July 2019.
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