Sunteck Realty enters into JV with JLL India; stock jumps 5 per cent
One of the premium property developers in Mumbai, Sunteck Realty Limited has secured a marquee 7-acre land in Borivali (West). It has partnered with JLL India and would develop a luxury residential project in the upmarket residential locality.
The above-mentioned residential project is spread across 7 acres and will have a development potential of 1 million square feet. The project will offer an unobstructed scenic view of the mangroves of Borivali and Gorai right up till Global Vipassana Pagoda and beyond. The estimated revenue generation is expected to sum up to around Rs 1,750 crore over the next 4-5 years. This will further strengthen the firms’ cash flows and balance sheet.
Sunteck Realty Limited (SRL) is one of the fastest-growing Mumbai-based luxury real estate development companies. The company has an immaculate track record of having one of the lowest net debt/equity ratios, financial prudence, and sustainable growth in its industry. It has around 37.5 million square feet of area, which has been developed or is under development, spread across 27 projects.
At 11.35 am on Thursday, the shares of Sunteck Realty Limited were trading 4.93 per cent higher at Rs 292.65 per share.
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