Sunteck Realty launches uber luxury brand, eyes ₹20,000 crore revenue

Mumbai-based Sunteck Realty has launched Emaance, an uber-luxury residential brand under which projects with a gross development value (GDV) of ₹20,000 crore will be launched over the next one year.

 

The first projects include an ultra-luxury development at Nepeansea Road in South Mumbai and another in Downtown Dubai’s Burj Khalifa Community, marking Sunteck’s international debut.

 

The company is targeting margins of 40-50 per cent from these projects, priced at around ₹2.5 lakh per square foot. Each apartment will span approximately 10,000 square feet. The Nepeansea Road project is expected to launch in the current financial year.

 

According to Sunteck’s Q1FY26 investor presentation, the Dubai project has a GDV of ₹9,000 crore, while Nepean Sea Project–1 and Project–2 are valued at ₹1,920 crore and ₹2,400 crore, respectively.

 

All projects under Emaance will be greenfield developments on land parcels owned by the company. In Mumbai, future launches will be located in prime South Mumbai micro-markets and will feature uber-luxury amenities. As of Q1FY26, about 38 per cent of Sunteck’s portfolio comprised uber-luxury projects, though the company plans to remain active across all housing segments, from aspirational to luxury.

 

Describing the concept as “beyond uber luxury,” Kamal Khetan, chairperson and managing director of Sunteck Realty, said, “It represents the belief that life beyond luxury deserves its own name, its own category.” Khetan also called Emaance a “long-term bet” as the company will continue to launch projects under the brand. 

 

Khetan told Business Standard that the company has already begun receiving inquiries for these projects. Sunteck positions Emaance as a by-invite-only real estate lifestyle brand, backed by its track record in luxury execution, a healthy balance sheet, prime locations, and demand visibility.

 

“Looking ahead, Emaance will grow into a global name synonymous with rarity, fine taste, and life beyond luxury. The brand will expand beyond residences into curated experiences — from invite-only gatherings and lounges to bespoke collaborations and tailored concierge services,” the company stated.

 

According to JLL India, there has been an unprecedented surge in ultra-luxury residential sales. In the past three years, 49 homes priced above ₹100 crore were sold in Mumbai and Delhi-NCR, with Mumbai accounting for 69 per cent. Buyers invested ₹7,500 crore, including ₹3,652 crore in 2024 alone. In the first two months of 2025, four sales totalled ₹850 crore. Most apartments measured 10,000–16,000 sq ft.

 

With billionaire numbers rising in 2024, wealthy Indians are driving demand. Going ahead, steady sales are expected as more developers enter the segment.

 

As of Q1FY26, Sunteck’s residential portfolio had a GDV of ₹39,800 crore. It is also expanding its annuity income portfolio, with rental revenue projected to rise from ₹70 crore in FY25 to ₹320 crore by FY28-29, while capital value is expected to increase from ₹1,050 crore to ₹5,000 crore in the same period.

 

In Q1FY26, pre-sales stood at ₹657 crore, up 30.9 per cent year-on-year (Y-o-Y). Operating revenue declined 40.5 per cent to ₹188 crore, but Ebitda rose 54.83 per cent to ₹48 crore. Net debt was at ₹73 crore, with a net debt-to-equity ratio of 0.02x.