Sunteck Realty Limited

Last updated

Sunteck Realty Limited
Company type Public limited company
NSE:  SUNTECK
BSE:  512179
Industry Real estate
Founded1981
FounderKamal Khetan
Headquarters Mumbai, Maharashtra, India
ServicesDevelopment of commercial and residential properties [1] [2]
Website Official 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 Awards Signature Island NDTV Won [20]
2017Ultra Luxury Project of the Year Signature Island Realty Plus Excellence AwardsWon [21]
2018Developer of the Year – ResidentialRealty Plus Excellence AwardsWon [22]

Related Research Articles

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. It was the biggest housing finance company in India. It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.

Tata Housing Development Company (THDC) is a fully owned subsidiary of Tata Sons, a holding company of the Tata Group.

<span class="mw-page-title-main">World One</span> Residential skyscraper under construction in Mumbai, India

World One is a 280.2 m (919 ft), 76 floor skyscraper in Mumbai, Maharashtra, India. As of 2024, it is the second tallest completed building in India. It is on the 7.1-hectare (17.5-acre) site of the defunct Shrinivas Mill. The site also houses two other towers: World View and World Crest. The complex was developed by the Lodha Group.

Ashiana Housing Ltd. (AHL) is an Indian real estate development company established in 1986 and headquartered in New Delhi, India. The firm is a real estate company that was recognized by Forbes as Asia's 200 Best Under A Billion in 2010 and 2011.

<span class="mw-page-title-main">Sobha (company)</span> Indian real estate company

Sobha Limited is an Omani multinational real estate developer with its headquarters in Dubai, UAE and a corporate office in Bangalore, India

<span class="mw-page-title-main">Piramal Group</span> Indian conglomerate

The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and real estate.

Emaar India Limited is a real estate developer principally engaged in promotion, construction, development and sale of integrated townships, residential and commercial multi storied buildings, houses, flats, shopping malls, hotels, and other developments. The company develops residential and commercial projects in different parts of India, including Gurugram, Delhi/NCR, Mohali, Lucknow, Indore and other Indian cities.

<span class="mw-page-title-main">L&T Realty</span>

L&T Realty Limited is a real estate development company and is part of the Larsen & Toubro Group, an Indian multinational conglomerate in technology, engineering, construction, manufacturing and financial services. Headquartered in Mumbai, Maharashtra, L&T Realty has a strong presence across Mumbai, Bangalore and Chennai. The Company undertakes various projects encompassing the construction of residential, corporate office, retail, leisure and entertainment spaces. Besides independent projects, L&T Realty also undertakes co-development projects for various reputed builders. Currently, it has over 35 million sq. ft. of area under various stages of development.

Gateway Towers is a residential complex under construction in Mumbai, India. It will have 6 residential towers ranging from 31 to 41 stories.

Signature Island is a luxury development project in the Bandra Kurla Complex, Mumbai, India. Built by Sunteck Realty Limited, the project features all duplex homes of 7,500 and 11,500 square feet. The project was completed in 2015.

<span class="mw-page-title-main">Lodha Altamount</span> Residential building in Mumbai

Lodha Altamount is a postmodern luxury residential skyscraper project located in the billionaires row of Mumbai, India. Designed by Hadi Teherani, it has a glass black facade.

<span class="mw-page-title-main">Ajmera Realty & Infra India</span> Mumbai based company

Ajmera Realty & Infra India is a listed company based in Mumbai, India, founded in 1985 as Percolated Steels. It is a flagship company of the Ajmera group worth US$450 million and has core interests in realty, construction, cement, steel rolls and construction-related businesses. The company has diversified into solar power and seamless capsules.

<span class="mw-page-title-main">Palava City</span> Integrated smart city in Maharashtra, India

Palava is an integrated smart city located near Dombivli in Maharashtra state. It is developed by real estate developer Lodha and is built on a 4,500-acre land located between Thane, Navi Mumbai and Kalyan. Palava City is also referred to as the City of Opportunity. It was listed as India's No.1 smart city by Jones Lang LaSalle India's proprietary research report.

Karan Bhagat is an Indian entrepreneur and investor, who is the founder, CEO and MD of IIFL Wealth & Asset Management, an Indian wealth management firm. He has been listed in fortuneindia.com's 40 Under 40 list in 2016 and 2017. He was also a finalist for the EY Entrepreneur of the Year Award in 2018.

K Raheja Corp is a property developer in India with interests in commercial and residential projects, malls and hospitality across multiple cities in the country. It owns the brands Mindspace, Commerzone, Crossword Bookstores and Shoppers Stop, and is the second largest commercial developer in India. Under the Mindspace banner, K Raheja Corp also operates Mindspace Office Parks, which is a real estate investment trust (REIT).

<span class="mw-page-title-main">Lodha Group</span> Indian real estate company

Lodha or Macrotech Developers is an Indian multinational real estate company headquartered in Mumbai, India. It was founded in 1980 by Mangal Prabhat Lodha. It has developed residential and commercial properties in Mumbai, Thane, Hyderabad, Pune and London. Some of its notable projects include Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai and Lodha Park. The company is also credited for developing Palava, an integrated smart city near Mumbai. The company was listed as Macrotech Developers on 19 April 2021.

<span class="mw-page-title-main">Piramal Realty</span> Indian real estate company

Piramal Realty is an Indian real estate company, founded in 2012 by Anand Piramal. It is a part of Piramal Group, headquartered in Mumbai, India. The company is engaged in developing luxury residential and commercial properties and is currently developing projects estimated to cover 15 million square feet. Among its notable projects include Piramal Aranya, Piramal Mahalaxmi, Piramal Revanta, Piramal Vaikunth and Piramal Agastya.

Puravankara Limited is an Indian publicly-held real estate development company. It was established in 1975 by Ravi Puravankara and is headquartered in Bangalore. It operates in the residential and commercial sectors, having developed projects in multiple cities in India, including Bengaluru, Chennai, Kochi, Coimbatore, Pune, and Mumbai. Additionally, Puravankara has ventured into the international real estate market, with projects in Dubai and Colombo.

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.[ dead link ]
  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.[ dead link ]
  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.