by THO
Listed real estate developer Sunteck Realty Limited, said on January 29 that it will develop two luxury housing projects in two of Mumbai’s sought‐after locations, Nepean Sea Road in South Mumbai and Bullock Road, Bandstand in Bandra (West), with a Gross Development Value (GDV) of ₹3,000 crore, the company said in a regulatory filing.
Both projects will be located directly along the seafront, and offer panoramic views of the Arabian Sea. Though the company did not disclose the exact locations, industry sources said the two projects will come up on a cumulative land parcel of 1.5 acres.
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Sunteck Realty, which has constructed buildings like Signature Island, Signia Isle and Signia Pearl at Bandra Kurla Complex, plans to develop these sites into ultra‐luxurious residential apartments, the company said.
Speaking about the upcoming projects, Kamal Khetan, Chairman and Managing Director, Sunteck Realty Limited said, “Our commitment to deliver uber‐luxury and ultra‐luxury projects remains steadfast with our latest projects at Nepean Sea Road and Bandstand, where we will be creating unparalleled landmarks in Mumbai’s real estate landscape. The focus on pursuing marquee acquisitions aligns seamlessly with our business development strategy, reinforcing our growth trajectory and leadership position in the industry.”
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The projects are estimated to generate a Gross Development Value of ₹3000 crore which will add to Sunteck’s portfolio. Its current portfolio consists of 52.5 million sq ft spread across 32 projects. The company doubled its GDV from ₹12,500 crore in FY2022 to ₹30,100 crore in FY2024.
