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Sunteck Realty to start development of real estate projects in FY22

Friday, 07 May 2021
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Sunteck Realty is planning to start development of two-three million sq ft of real estate projects in FY22, in addition to the 5.6 million sq ft under development, expecting a rise in demand in the Mumbai Metropolitan Region (MMR).

The Mumbai-based firm is planning to launch about three-four projects during FY22. The company has a total future development potential of over 35 million sq ft in MMR, which includes the acquisition of nine million sq ft done in 2020.

The company intends to launch its Naigaon Phase-III and the first phases of projects in Vasai and Vasind during FY22. Following which, Sunteck Realty will start its Borivali project.

The firm will also continue to buy land parcels. The land parcel buys will be funded from its internal accruals as its cash flows are strong.


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