*Sunteck Realty acquires approx. 50 acres in emerging micro-market, Vasind (District Thane)*
• A potential to develop approximately 2.6 mn sq ft integrated residential township under ‘SunteckWorld’ Brand
• Revenue generation of Rs. 1,250 crores (Rs. 12.5 Billion) envisaged for next 4-5 years
Mumbai, October 20, 2020: Sunteck Realty Ltd, India’s leading luxury developer has entered into an agreement to acquire approx 50-acre land parcel in Vasind. The project will offer approximately 2.6 million square feet. Envisaged as a one of the large residential development under ‘Sunteck World’ brand in Thane District, the project will have a revenue potential of Rs. 1,250 crores (Rs. 12.5 Billion) spanning over next 4-5 years.
Commenting on the development, Mr. Kamal Khetan, Chairman and Managing Director, of Sunteck Realty Ltd said, “The second strategic acquisition amidst the pandemic complements our strategy to strengthen our brand presence. Our Vasind acquisition reflects our differentiated development philosophy of focusing on strategic locations along the growth vector. The project will be largely residential, catering to the affordable segment. With the ongoing Covid-19 scenario, I believe our upcoming projects will continue to fulfill the emerging customer needs: residential premises that complements today’s lifestyle and suit the requirements for Work From Home.”
“Our momentum, both on sales and the execution front, has been increasing post the lockdown and we remain confident of capitalizing on the opportunity at hand. We will continue to reward our investors through acquisition of such value deals,” he added.
Apart from the affordability and expansive nature of the project, it is equally bestowed with a great locational connectivity, being strategically placed near the railway Station as well as located along the NH3 with access to key social and civic infrastructure in the area. The project will be a key addition to Sunteck’s brand ‘SunteckWorld’ that boasts of Naigaon’s mega project success of Phase 1 Sunteck WestWorld and Phase 2 Sunteck MaxXWorld to its credit.
About Sunteck Realty:
Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. SRL has an immaculate track record of having one of the lowest net Debt/Equity ratios, financial prudency and sustainable growth. The company focuses on a city centric development portfolio of about 35 million square feet spread across 26 projects. Sunteck Realty has differentiated its projects under five brands - ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial & Retail developments. The company has been a trendsetter in creating iconic destinations such as the flagship project, Signature Island at Bandra Kurla Complex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon - the largest township of MMR’s western Suburbs.
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Sunteck Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.