Sunteck Realty to Launch Seven Projects In Next 5-8 Years

Sunteck Realty is on a Rs 22,000-crore potential revenue path by launching seven projects in and around the Mumbai metropolitan region over the next five to eight years. These projects are expected to make it one of the largest realtors in terms of the topline. The realty firm has built the first uber apartment tower Signature in the heart of the tony central business district of BKC last decade and is now home to some of the biggest names in India Inc, such as Gautam Adani and Uday Kotak. Sunteck, over the past 18 months, has acquired land banks for five major residential projects in Vasai West, Vasind, Borivali West, Shahad in Kalyan and Pen-Khopoli. These projects have a development potential of 23 million sq ft and can fetch close to Rs 20,000 crore over the next seven to eight years, Sunteck Realty founder-chairman and managing director Kamal Khetan told PTI in a recent interaction. That apart, it is also launching the next phases of the Sunteck World in the northwestern suburbs of Naigaon and Sunteck City at the Oshiwara district centre in Goregaon West. These projects have a revenue potential of Rs 2,000 crore over the next four-five years, said the first-generation entrepreneur Khetan. He added that these projects can generate Rs 1,250 crore in topline in FY23 alone, while total revenue potential from the first phase of these projects will be Rs 3,400 crore. Sunteck will be launching the first phase of these projects next fiscal, with the Vasai West and Shahad in Kalyan projects fetching Rs 1,150 crore each, Borivali West netting around Rs 900 crore and Vasind project selling for around Rs 200 crore, he said, adding the second phase of Sunteck City at Goregaon West has a revenue potential of Rs 750 crore and the new phase of the Sunteck World at Naigaon can generate Rs 500 crore in sales. In all it is looking at launching inventory worth Rs 4,650 crore by the end of FY23, Khetan said, setting an incremental 30 per cent sales target for FY22 and FY23 and a pre-sales target of Rs 2,000 crore by end-FY23.