The company will develop a luxury integrated residential township in this location under the asset-light joint development agreement model with Amar Dye Chem Ltd.
Sunteck Realty on Thursday said it will develop an integrated township in Mumbai Metropolitan Region (MMR) and is expecting a revenue of Rs 9,000 crore over the next 7-8 years.
In a regulatory filing, the company said it plans to develop around 50-acre land parcel at Shahad (Kalyan).
The company will develop a luxury integrated residential township in this location under the asset-light JDA (joint development agreement) model with Amar Dye Chem Ltd.
“The project is expected to generate a top line of around Rs 9,000 crore over the next 7-8 years, further strengthening the cash flow and the balance sheet of the company,” Sunteck said.
The company had added projects worth 18 million square feet since the COVID pandemic.
Sunteck Realty focuses on a city-centric development portfolio of about 38 million square feet spread across 19 projects.