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    Sunteck Realty Limited

    From Wikipedia - Reading time: 6 min

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

    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[edit]

    Year Award(s) Project Awarding organisation Result Ref.
    2016 Property Awards Signature Island NDTV Won [20]
    2017 Ultra Luxury Project of the Year Signature Island Realty Plus Excellence Awards Won [21]
    2018 Developer of the Year – Residential Realty Plus Excellence Awards Won [22]

    References[edit]

    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. ^ a b "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.

    External links[edit]

    This article is licensed under CC BY-SA 3.0.
    Original source: https://en.wikipedia.org/wiki/Sunteck Realty Limited
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