“We write to inform you that the wholly owned subsidiary of the Company has acquired land admeasuring approx. 4.5 acres, adjacent to New Link Road, Borivali West, Mumbai,” according to a stock exchange filing.
Sunteck Realty said the transaction does not fall under a related party transaction.
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First Quarter Results
Sunteck Realty Ltd reported a net profit of ₹42.3 crore for the first quarter of FY27, up 26.4% year-on-year from ₹33.4 crore in the corresponding quarter last year.
The company’s revenue increased 1.7% year-on-year to ₹191.6 crore, compared with ₹181.3 crore in Q1 FY26.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 38.7% year-on-year to ₹66.8 crore, from ₹48.1 crore in the year-ago period. The EBITDA margin expanded to 34.9% from 25.6%.
The company’s profit after tax (PAT) margin increased to 22% from 18% in the year-ago quarter.ALSO READ | Sunteck Realty receives ₹59 crore GST notice for TDR procurement in FY23
On the operational front, pre-sales increased to around ₹787 crore in Q1 FY27, up 20% year-on-year. Collections stood at around ₹409 crore, registering a 17% year-on-year growth.
Mumbai-based Sunteck Realty is one of the leading real estate developers in the country. Shares of Sunteck Realty Ltd ended at ₹277.45, down by ₹2.15, or 0.77%, on the BSE.