HomeNewsSunteck Realty sees revenue potential of Rs 22k crore from new projects

Sunteck Realty sees revenue potential of Rs 22k crore from new projects

Sunteck Realty is aiming to launch seven projects in and around the Mumbai metropolitan region over the next five to eight years which will have revenue potential of Rs 22,000 crore. These projects are expected to make it one of the largest realtors in terms of the topline.

Suntech, over the past 18 months, has acquired land banks for five major residential projects in Vasai West, Vasind, Borivali West, Shahad in Kalyan and Pen-Khopoli. These projects have a development potential of 23 million sq ft and can fetch close to Rs 20,000 crore over the next seven to eight years.

That apart, it is also launching the next phases of the Sunteck World in the northwestern suburbs of Naigaon and Sunteck City at the Oshiwara district centre in Goregaon West. These projects have a revenue potential of Rs 2,000 crore over the next four-five years.

Sunteck will be launching the first phase of these projects next fiscal, with the Vasai West and Shahad in Kalyan projects fetching Rs 1,150 crore each, Borivali West netting around Rs 900 crore and Vasind project selling for around Rs 200 crore, he said, adding the second phase of Sunteck City at Goregaon West has a revenue potential of Rs 750 crore and the new phase of the Sunteck World at Naigaon can generate Rs 500 crore in sales.

All in all, the realtor is looking at launching inventory worth Rs 4,650 crore by the end of FY23 setting an incremental 30 per cent sales target for FY22 and FY23 and a pre-sales target of Rs 2,000 crore by end-FY23.

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