Sunteck Realty Ltd has entered into an settlement to amass approx 50-acre land parcel in Thane’s Vasind, Sunteck mentioned in a regulatory submitting. The challenge will provide roughly 2.6 million sq. toes. “Envisaged as a one of many giant residential growth below ‘Sunteck World’ model in Thane District, the challenge can have a income potential of Rs. 1,250 crores (Rs. 12.5 Billion) spanning over subsequent 4-5 years,” Sunteck mentioned.
Commenting on the event, Kamal Khetan, Chairman and Managing Director, of Sunteck Realty Ltd mentioned, “The second strategic acquisition amidst the pandemic enhances our technique to strengthen our model presence. Our Vasind acquisition displays our differentiated growth philosophy of specializing in strategic areas alongside the expansion vector. The challenge will likely be largely residential, catering to the reasonably priced section. With the continued Covid-19 state of affairs, I imagine our upcoming tasks will proceed to meet the rising buyer wants: residential premises that enhances right now’s way of life and go well with the necessities for Work From Residence.”
Earlier this month, Sunteck Realty Ltd had reported 96% improve in its gross sales bookings at ₹200 crore for the quarter ended September on higher demand for its properties regardless of the COVID-19 pandemic.
Its gross sales bookings stood at ₹102 crore within the year-ago interval.