Sunteck Realty Ltd buys 50 acres land in Mumbai with revenue potential of Rs 5,000 cr in 5-7 yrs
New Delhi: Sunteck Realty Ltd has bought 50 acres land parcel in Vasai in Mumbai for a housing project having a revenue potential of Rs 5000 crore. The land parcel has a development potential of 45 lakh square feet and the revenues of Rs 5,000 crore will be realized in the next 5-7 years, the company said in a statement.
This housing project will cater to mid-income segment.
The company has been removed from the “A” Group of BSE from 15 July 2020.
The company’s consolidated net profit fell 31 percent to Rs 33.64 crore in the third quarter of the last fiscal as compared to Rs 49 crore in the same quarter of the previous fiscal. The total income of the company stood at Rs 199.34 crore in the third quarter of the last fiscal as compared to Rs 201.66 crore in the same quarter of the previous fiscal. Sunteck is yet to declare fourth quarter results.