Sunteck Realty today said it is expecting sales revenue of Rs 1,000 crore over the next two-and-a-half years from the launch of four new projects in Mumbai this quarter.
"Sunteck Realty is going to launch four projects in Borivali, Andheri, Bandra Kurla Complex and Navi Mumbai this quarter. The total development of about 1 million sq ft for the proposed projects will translate into a revenue potential of over Rs 1,000 crore in the next 2-2.5 years," the company said in a statement.
Commenting on the new launches, company's Chairman and Managing Director Kamal Khetan said these launches have been an extension of its strategy to provide premium residential projects in robust micro markets of Mumbai.
Mumbai-based Sunteck Realty has development portfolio of about 25 million sq ft spread across 24 projects at various stages of development and 4 rented assets.
Of the said portfolio, the company within a span of four years has completed six projects with a developed area of about 2 million square feet comprising of residential and commercial developments.
Sunteck's share price closed at Rs 263.20 apiece on the BSE, up 6.80 per cent from the previous closing.
