Sunteck Realty Limited

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]

Sunteck Realty Limited
TypePublic limited company
NSE: SUNTECK
BSE: 512179
IndustryReal estate
Founded1981
FounderKamal Khetan
HeadquartersMumbai, Maharashtra, India
ServicesDevelopment of commercial and residential properties[1][2]
WebsiteOfficial website

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 & Co. Inc. 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 AwardsSignature IslandNDTVWon[20]
2017Ultra Luxury Project of the YearSignature IslandRealty Plus Excellence AwardsWon[21]
2018Developer of the Year – ResidentialRealty Plus Excellence AwardsWon[22]

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. "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.
  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.
  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.
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