Sunteck Realty Partners to Develop Rs 1,200 Crore Housing Project in Mira Road, Mumbai
Sunteck Realty, a prominent real estate developer, has entered into a joint development agreement to build a 3.5-acre housing project with an estimated value of Rs 1,200 crore in Mira Road, Mumbai. This marks the company's second major project in the region.
Sunteck RealtyMumbai Real EstateJoint Development AgreementMira RoadReal Estate DevelopmentReal Estate MumbaiJul 23, 2025
This new venture will be Sunteck Realty's second project in the Mira Road area. The company is already developing another 7-acre land parcel in the same micro-market, which is anticipated to have a total development and revenue potential of 2 million square feet and Rs 2,750 crore, respectively.
Kamal Khetan, Chairman and Managing Director of Sunteck Realty, expressed his enthusiasm for the joint development agreement, stating, “This agreement reinforces our commitment to expanding in high-potential growth corridors of the Mumbai Metropolitan Region. We are dedicated to delivering quality housing solutions that meet the growing demand in these areas.”
The company has recently reported impressive financial results for the first quarter of 2025-26. Pre-sales increased by 31% year-on-year, reaching Rs 657 crore, while collections during the quarter stood at approximately Rs 351 crore. Sunteck Realty's operating profit for the quarter saw a 52% year-on-year rise to Rs 48 crore, and net income increased by 47% to Rs 33 crore.
Sunteck Realty is known for its city-centric development portfolio, which encompasses over 52.5 million square feet across 32 projects. The company's strategic focus on high-growth areas like Mira Road reflects its commitment to sustainable and profitable expansion in the real estate sector. With a strong track record and a pipeline of promising projects, Sunteck Realty is well-positioned to continue its growth trajectory in the Mumbai Metropolitan Region and beyond.
Frequently Asked Questions
What is the estimated value of the new housing project in Mira Road?
The new housing project in Mira Road, developed by Sunteck Realty, is estimated to have a gross development value of Rs 1,200 crore.
How much land is allocated for the new project in Mira Road?
The new project in Mira Road is spread over a 3.5-acre plot located along the Western Express Highway.
What is the total development potential of the 7-acre land parcel already under development by Sunteck Realty in Mira Road?
The 7-acre land parcel already under development by Sunteck Realty in Mira Road has a total development and revenue potential of 2 million square feet and Rs 2,750 crore, respectively.
How much did Sunteck Realty's pre-sales increase in the first quarter of 2025-26?
Sunteck Realty's pre-sales increased by 31% year-on-year, reaching Rs 657 crore in the first quarter of 2025-26.
What is the total development portfolio of Sunteck Realty?
Sunteck Realty's development portfolio encompasses over 52.5 million square feet across 32 projects, focusing on city-centric developments.
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