Sunteck Realty to acquire land for housing project with revenue potential of Rs 1250 cr
New Delhi: Mumbai-based Sunteck Realty will acquire a 50 acre land parcel in Vasind, Mumbai for a housing project. The project will have a potential revenue of around Rs 1,250 crore in the next 4-5 years.
The project will have about 2.6 million square feet of saleable area, the company said in a statement.
The realty player did not mention the financials involved in the proposed land acquisition.
“The second strategic acquisition amidst the pandemic complements our strategy to strengthen our brand presence. Our Vasind acquisition reflects our differentiated development philosophy of focusing on strategic locations along the growth vector,” said Kamal Khetan, CMD, Sunteck Realty Ltd.