Sunteck Realty gains on incorporating wholly owned subsidiary

Sunteck Realty rallied 3.43% to Rs 369.45 after the company announced that it has incorporated a wholly owned subsidiary named Eximius Buildcon (EBPL) on 3rd March 2025.

The Ministry of Corporate Affairs has issued the Certificate of Incorporation for the new entity.

EBPL will focus on real estate activities, including construction and allied services. Sunteck Realty has subscribed to 10,000 equity shares of EBPL, each with a face value of Rs 10, aggregating to Rs 100,000. The entire share capital of EBPL is held by Sunteck Realty.

The company clarified that the transaction does not fall within related party transactions, and none of the companys promoters, promoter groups, or group companies have any interest in the transaction.

Sunteck Realty (SRL) is one of India's leading luxury real estate developers. The company focuses on a city-centric development portfolio of about 52.5 million square feet spread across 32 projects.

The company reported consolidated net profit of Rs 42.52 crore in Q3 FY25 as against net loss of Rs 9.73 crore in Q3 FY24. Revenue from operations stood at Rs 161.76 crore in the December 2024 quarter, registering a growth of 281.06% YoY.

Powered by Capital Market - Live News