Latest news with #SRL
The Age
28-07-2025
- Business
- The Age
State eyes carve-out of existing taxes to help plug $11.5b SRL funding hole
A Suburban Rail Loop fund would be created from siphoned-off tax revenue under a plan being considered by the Allan government to help fill an $11.5 billion hole in funding for its transport and housing centrepiece. The contentious proposal, confirmed by two government sources speaking anonymously to detail confidential discussions, raises fresh questions about the financing of the SRL amid other growing demands on the state budget. Under a plan being discussed within the Suburban Rail Loop Authority and at senior levels of the government, a share of existing stamp duty and land taxes levied on properties near proposed SRL stations would be earmarked for the $34.5 billion first stage of the project. The proposal to create what is known as a 'hypothecated' tax stream – a tax or levy dedicated for a specific purpose – to help pay for the SRL is a departure from the government's previous assumption that money raised through value capture would provide a third of the necessary funds. It signals the government now accepts the SRL may depend more heavily on state finances. The latest Victorian budget figures forecast a net debt for the state of a record $194 billion by the end of this decade. While the government is still finalising ideas for value capture – charges or fees through which the government reclaims a share of increased property values generated by a capital works project – a government source said SRL Authority and Treasury officials were grappling with concerns any additional tax burden on SRL housing developments would increase the cost of new homes in those areas. A report canvassing a new statewide infrastructure charge has also been sitting with the government since March. This year's state budget flagged the government's changing approach. In a section detailing updates on SRL East, the first stage of an orbital rail loop that will eventually encircle Melbourne's middle suburbs, it noted that value capture would supplement traditional state and federal funding but with a new focus on existing forms of income.
Sydney Morning Herald
28-07-2025
- Business
- Sydney Morning Herald
State eyes carve-out of existing taxes to help plug $11.5b SRL funding hole
A Suburban Rail Loop fund would be created from siphoned-off tax revenue under a plan being considered by the Allan government to help fill an $11.5 billion hole in funding for its transport and housing centrepiece. The contentious proposal, confirmed by two government sources speaking anonymously to detail confidential discussions, raises fresh questions about the financing of the SRL amid other growing demands on the state budget. Under a plan being discussed within the Suburban Rail Loop Authority and at senior levels of the government, a share of existing stamp duty and land taxes levied on properties near proposed SRL stations would be earmarked for the $34.5 billion first stage of the project. The proposal to create what is known as a 'hypothecated' tax stream – a tax or levy dedicated for a specific purpose – to help pay for the SRL is a departure from the government's previous assumption that money raised through value capture would provide a third of the necessary funds. It signals the government now accepts the SRL may depend more heavily on state finances. The latest Victorian budget figures forecast a net debt for the state of a record $194 billion by the end of this decade. While the government is still finalising ideas for value capture – charges or fees through which the government reclaims a share of increased property values generated by a capital works project – a government source said SRL Authority and Treasury officials were grappling with concerns any additional tax burden on SRL housing developments would increase the cost of new homes in those areas. A report canvassing a new statewide infrastructure charge has also been sitting with the government since March. This year's state budget flagged the government's changing approach. In a section detailing updates on SRL East, the first stage of an orbital rail loop that will eventually encircle Melbourne's middle suburbs, it noted that value capture would supplement traditional state and federal funding but with a new focus on existing forms of income.
Time of India
24-07-2025
- Business
- Time of India
Sunteck Realty to jointly develop 3.5 acres land in Mumbai
NEW DELHI: Sunteck Realty ( SRL ) has entered into a joint development agreement (JDA) for a project on the land admeasuring approximately 3.5 acres (13,500 sq meters), situated at Mira Road , Mumbai . The company expects to generate a sale component of approximately 5.5 lakh sq ft carpet area from the development of this land parcel. The projected gross development value (GDV) of the project is estimated at ₹1,200 crore.
Hindustan Times
23-07-2025
- Business
- Hindustan Times
Sunteck Realty announces ₹1,200 crore GDV JDA project at Mira Road near Mumbai
Listed real estate developer Sunteck Realty Ltd (SRL) announced on July 23 that it has entered into a joint development agreement (JDA) to develop 3.5 acres of land on Mira Road along the Western Express Highway near Mumbai. The project, spread across 13,500 sq m, will offer a development potential of 5.5 lakh sq ft of carpet area, with an estimated Gross Development Value (GDV) of ₹1,200 crore, the company said. Listed real estate developer Sunteck Realty Ltd (SRL) announced on July 23 that it has entered into a joint development agreement (JDA) to develop 3.5 acres of land on Mira Road along the Western Express Highway near Mumbai. (Picture for representational purposes only)(Mehul R Thakkar/HT) "This JDA reinforces our commitment to expanding in high-potential growth corridors of MMR. Mira Road, with its robust infrastructure pipeline and superior connectivity, offers an ideal canvas for creating a landmark luxury residential development. As seen with Sunteck SkyPark, we believe in transforming locations into lifestyle destinations. With this new development, we aim to deliver living experiences that elevate the value of the entire neighbourhood," said Kamal Khetan, chairman and managing director of Sunteck Realty Ltd. Also Read: Mumbai, Thane, Navi Mumbai, and Pune see a decline in housing sales and supply in Q2 2025 The company said the project has direct highway frontage and is adjacent to the upcoming Metro Line 9 (Miragaon Station) and has access to Dahisar and Mira Road railway stations. Upcoming infrastructure initiatives like the Borivali-Thane Tunnel and the Coastal Road Extension will further elevate connectivity, making the location even more desirable for discerning homebuyers and investors, the company said in a statement. Also Read: Housing sales volume of Tier 1 real estate developers dips by 6% in FY25: Ind-Ra The company said that Mira Road has emerged as a high-absorption residential market in the Mumbai Metropolitan Region (MMR), backed by proximity to reputed educational institutions, healthcare centres, retail hubs, and green belts. With a growing demand for premium, well-connected living. Also Read: Are Mumbai real estate prices moderating, giving homebuyers more room to negotiate? Local brokers said the per-square-feet price for residential apartments in Mira Road, with exceptions, is ₹10,000 to ₹15,000.
Business Standard
18-07-2025
- Business
- Business Standard
Sunteck Realty gains after Q1 PAT jumps 47% YoY
Sunteck Realty rose 1.30% to Rs 442.70 after the company reported a 46.75% rise in net profit to Rs 33.43 crore, despite a 40.45% decrease in total revenue from operations to Rs 188.32 crore in Q1 FY26 compared to Q1 FY25. EBITDA surged by 54.83% to Rs 48 crore in Q1 FY26 from Rs 31 crore in Q1 FY25. EBITDA margin improved by 1,541 basis points to 25% in Q1 FY26. The company reported quarterly pre-sales of Rs 657 crore in Q1 FY26, marking a year-on-year growth of 30.87%. Collections in Q1 FY26 improved to Rs 351 crore, up 2.63% from Rs 342 crore in Q1 FY25. As of 30 June 2025, the companys net debt-to-equity ratio stood at 0.02x. The company has been selected as the preferred developer for the redevelopment of a residential project in Andheri, near the Western Express Highway (WEH), Mumbai. The project spans approximately 2.5 acres and offers a development potential of around 2.75 lakh square feet. It is expected to generate a Gross Development Value (GDV) of Rs 1,100 crore. Sunteck Realty Limited (SRL) is one of Indias leading luxury real estate developers, known for its financial prudence, low leverage, and sustainable growth. The company boasts a city-centric development portfolio of approximately 52.5 million square feet across 32 projects.
