Latest news with #SunteckRealty
Economic Times
29-05-2025
- Business
- Economic Times
Sunteck Realty secures Rs 1,100-crore redevelopment project in Mumbai's Andheri
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Listed realty developer Sunteck Realty has secured rights to redevelop a housing society spread over a 2.5-acre land parcel in Mumbai's western suburb of Andheri east, through a society-led redevelopment agreement, with expected revenue potential of around Rs 1,100 project is expected to hold a total construction and development potential of over 1 million sq ft, including 275,000 sq ft of free sale component, said persons with direct knowledge of the company is currently working on approvals and the construction is expected to commence following the formal handover of the site by the society, with completion targeted within 36 to 48 months project's total investment is expected to be around Rs 750 crore including construction cost, floors-space index premium, rentals and corpus to the society. The developer is likely to fund the entire development through internal established by LIC employees, the society comprises a total 11 buildings, construction of which was completed in 1968. The society was built entirely on an ownership basis by LIC staff.'The company has recently signed the 79 A agreement with the housing society and is currently working on the further planning of the project,' said one of the persons mentioned agreement with the housing society under Section 79 A of the Maharashtra Co-operative Societies Act , 1960 requires majority consent of members before finalizing redevelopment plans. This means the society and the developer have agreed to follow a structured process that emphasizes transparency, member rights, and legal Thursday, Sunteck Realty informed the stock exchanges about securing the rights for redevelopment of this housing society. ET's email query to the company seeking further details of the development agreement remained unanswered until the time of going to estate projects involving the redevelopment of old housing societies and rehabilitation are the mainstay of the Mumbai region's property market, as the land-starved city and its peripheral areas have few vacant land 2023, the government of Maharashtra stated that a member of a housing society that undergoes redevelopment need not pay stamp duty on the allotted permanent accommodation as part of the this, the member of the housing society undergoing redevelopment is expected to pay only Rs 100 as stamp duty, while the principal agreement between the development and the housing society will be charged as per the state government's decision and ongoing buoyancy in the property has been playing a key role in pushing the redevelopment of many old and dilapidated housing societies across key cities in the state.
Time of India
29-05-2025
- Business
- Time of India
Sunteck Realty secures Rs 1,100-crore redevelopment project in Mumbai's Andheri
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Listed realty developer Sunteck Realty has secured rights to redevelop a housing society spread over a 2.5-acre land parcel in Mumbai's western suburb of Andheri east, through a society-led redevelopment agreement, with expected revenue potential of around Rs 1,100 project is expected to hold a total construction and development potential of over 1 million sq ft, including 275,000 sq ft of free sale component, said persons with direct knowledge of the company is currently working on approvals and the construction is expected to commence following the formal handover of the site by the society, with completion targeted within 36 to 48 months project's total investment is expected to be around Rs 750 crore including construction cost, floors-space index premium, rentals and corpus to the society. The developer is likely to fund the entire development through internal established by LIC employees, the society comprises a total 11 buildings, construction of which was completed in 1968. The society was built entirely on an ownership basis by LIC staff.'The company has recently signed the 79 A agreement with the housing society and is currently working on the further planning of the project,' said one of the persons mentioned agreement with the housing society under Section 79 A of the Maharashtra Co-operative Societies Act , 1960 requires majority consent of members before finalizing redevelopment plans. This means the society and the developer have agreed to follow a structured process that emphasizes transparency, member rights, and legal Thursday, Sunteck Realty informed the stock exchanges about securing the rights for redevelopment of this housing society. ET's email query to the company seeking further details of the development agreement remained unanswered until the time of going to estate projects involving the redevelopment of old housing societies and rehabilitation are the mainstay of the Mumbai region's property market, as the land-starved city and its peripheral areas have few vacant land 2023, the government of Maharashtra stated that a member of a housing society that undergoes redevelopment need not pay stamp duty on the allotted permanent accommodation as part of the this, the member of the housing society undergoing redevelopment is expected to pay only Rs 100 as stamp duty, while the principal agreement between the development and the housing society will be charged as per the state government's decision and ongoing buoyancy in the property has been playing a key role in pushing the redevelopment of many old and dilapidated housing societies across key cities in the state.
Mint
06-05-2025
- Business
- Mint
Stock to buy for long-term: Prabhudas Lilladher sees 60% upside in Sunteck Realty shares
Sunteck Realty shares are projected to have a potential upside of over 60%, based on an analysis by domestic brokerage Prabhudas Lilladher (PL Capital). Although the brokerage has reduced its target price for Sunteck Realty from ₹ 700 to ₹ 650, it anticipates a surge in the stock in the near future. Sunteck Realty shares today were trading nearly 1% lower at ₹ 398.10 apiece around 13:13 IST. PL Capital forecasts a growth of over 20% CAGR in the company's presales during FY25-27E, supported by ongoing projects and a robust pipeline of new launches, including the Dubai joint venture project. Additionally, considering the expected strong cash flow generation, the brokerage predicts that Sunteck Realty will increase its new project additions, which will serve as a significant driver for stock performance. 'Our FY26E stands reduced as we factor in revenue booking from One World project in FY27 however our FY27E largely remain unchanged. Maintain 'Buy' rating with a revised TP of ₹ 650/share,' said the brokerage in its report. Further, while discussing about the company's growth, PL Capital is of the opinion that the BKC and Max World projects contributed to the acceleration in sales, while the newly introduced phase 1 project on Nepean Sea Road supported pre-sales. The brokerage's report indicated that Sunteck Realty achieved an EBITDA of ₹ 687 million in comparison to ₹ 486 million in Q3FY25, benefiting from the BKC projects. Year-over-year, consolidated revenues fell by 52% to ₹ 2 billion. For FY25, revenues increased by 51%, supported by contributions from the BKC and Max World (Naigaon) project, resulting in total annual revenues of ₹ 8.5 billion. The PAT was reported at ₹ 504 million, up from ₹ 425 million quarter-over-quarter and down from ₹ 1 billion year-over-year. The company's pre-sales saw a 28% year-over-year increase, reaching ₹ 8.7 billion, which is also a 37% rise quarter-over-quarter, supported by the launch of the new Nepean Sea Road project. The ultra-luxury projects, including the 3 BKC projects and the Nepean Sea Road initiatives, accounted for 66% of the total pre-sales, amounting to ₹ 5.73 billion, while the high mid-income developments, such as Sunteck City, Beach Residencies, and Sky Park projects, contributed 27%, or ₹ 2.35 billion, to the overall pre-sales. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision. First Published: 6 May 2025, 01:24 PM IST
Business Upturn
05-05-2025
- Business
- Business Upturn
Stocks to watch on May 6, 2025: Tata Steel, SBI, Kotak Bank, Tata Motors, Adani Ports, Oberoi Realty, IRCON and more in focus today
Indian equity markets are likely to react to a slew of corporate earnings, stake movements, operational updates, and strategic announcements. Here's a look at the top stocks that will be in focus today: Tata Steel: LIC of India has increased its stake in the company to 7.85%, up from 5.84% earlier, through open market purchases. Sunteck Realty: The Mumbai-based real estate developer reported a 19% sequential rise in Q4 net profit, reaching ₹50 crore, aided by higher revenue and better margins. Revenue rose 27% QoQ to ₹206 crore, and annual pre-sales reached a record high. Tata Motors: Shares will be in focus after reports indicated that its subsidiary Jaguar Land Rover (JLR) has resumed car exports to the US. Separately, the company has announced a ₹500 crore NCD issuance, split into two tranches with a coupon rate of 7.08% p.a. Kotak Mahindra Bank: The private lender posted a 14% YoY decline in net profit for Q4FY25 at ₹3,551.7 crore, though NII rose 4% YoY to ₹7,283.6 crore. RR Kabel: The company reported a 63.9% YoY jump in consolidated net profit to ₹129 crore in Q4, while revenue rose 26.4% YoY to ₹2,218 crore. EBITDA rose 68.7% to ₹194.4 crore. City Union Bank: Reported a 13% YoY increase in net profit at ₹288 crore in Q4FY25. Net interest income grew 9.8% YoY to ₹600.3 crore. IRCON International: The company received a work order worth ₹458.14 crore from the North Eastern Electric Power Corporation. Oberoi Realty: Registered gross booking value of ₹970 crore at its Elysian Tower D project in Goregaon, Mumbai. State Bank of India (SBI): India's largest lender reported a 9.9% YoY drop in net profit to ₹18,643 crore in Q4FY25, while net interest income grew 1.5% YoY to ₹42,774 crore, aided by steady loan growth. Avenue Supermarts (D-Mart): The retailer posted a 2% YoY decline in consolidated net profit at ₹551 crore for Q4FY25, despite strong revenue growth, due to margin pressure. JSW Steel: A ₹702-crore demand raised by the Deputy Director of Mines has been set aside by the revisionary authority and sent back to the Odisha government for fresh consideration. The case pertains to alleged violations at the company's mines. Adani Ports: Reported handling 37.5 million tonnes of cargo in April 2025, marking a 4% YoY growth, led by a 21% surge in container volumes and 8% increase in liquids and gas. Rail logistics also grew strongly during the month. GOCL Corporation: The company announced the disinvestment of its subsidiary IDL Explosives Ltd for ₹107 crore. IDLEL contributed 87% of FY24 revenue but only 0.71% of net worth. Gravita India: Reported a 37% YoY increase in Q4 PAT to ₹95 crore, while revenue grew 20.1% YoY to ₹1,037 crore, driven by strong performance in its recycling businesses. Swiggy: The company said its 10-minute food delivery service 'Bolt' has now expanded to over 500 cities with more than 45,000 restaurant partners. Bolt now handles 1 in every 10 food orders within six months of launch. Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult a certified financial advisor before making any investment decisions.
Business Standard
03-05-2025
- Business
- Business Standard
Sunteck Realty registers PAT of Rs 50 crore in Q4; EBITDA margin at 33.5%
Sunteck Realty has reported 50% fall in net profit to Rs 50 crore as revenue declined by 52% to Rs 206 crore in Q4 FY25 as compared with Q4 declined by 55% to Rs 69 crore in Q4 FY25 from Rs 153 crore in Q4 FY24. EBITDA margin was 33.5% in Q4 FY25 as against 35.8% in Q4 companys quarterly pre-sales for the fourth quarter were Rs 870 crore, up 28% in Q4 FY25 improved to Rs 310 crore from Rs 296 crore in Q4 FY25, Sunteck Realty has recorded a net profit of Rs 150 crore (up 112% YoY) and revenue of Rs 853 crore (up 51% YoY).Net debt to equity ratio as on 31 March 2025 stood at zero, with net cash surplus of nearly Rs 125 Realty (SRL) is one of India's leading luxury real estate developers. The company focuses on a city-centric development portfolio of about 52.5 million square feet spread across 32 scrip had fallen 2.11% to end at Rs 392.50 on the BSE by Capital Market - Live News
