Sunteck Realty inks joint development pact for Rs 1,200 cr project in Mira Road
Sunteck Realty
has entered into a
joint development agreement
to develop a land parcel spread over 3.5 acres in Mira Road near Mumbai. The plot on Western Express Highway has development potential of 550,000 sq ft carpet area with estimated gross development value of Rs 1,200 crore.
This will be the company's second project in this micro market as it is already developing another 7-acre land parcel, which has a total development and revenue potential of 2 million sq ft and Rs 2,750 crore, respectively.
"This joint development agreement reinforces our commitment to expanding in high-potential growth corridors of Mumbai Metropolitan Region,' said Kamal Khetan, Chairman and Managing Director of Sunteck Realty.
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The company recently reported a 31% year-on-year increase in pre-sales for the first quarter of 2025–26, reaching Rs 657 crore. Collections during the quarter stood at around Rs 351 crore. The listed company's operating profit for the quarter rose 52% year-on-year to Rs 48 crore, while net income increased 47% to Rs 33 crore.
Sunteck Realty focuses on a city-centric development portfolio of over 52.5 million sq ft spread across 32 projects.
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