According to a stock exchange filing reported by CNBC TV18, Sunteck Realty Ltd announced that its wholly owned subsidiary has acquired approximately 4.5 acres of land adjacent to New Link Road in Borivali West, Mumbai. The company emphasized that this transaction does not fall under a related party transaction, ensuring transparency in the acquisition process.
As reported by CNBC TV18, Sunteck Realty delivered robust financial results for the first quarter of FY27, with net profit reaching ₹42.3 crore, representing a 26.4% year-on-year increase from ₹33.4 crore in Q1 FY26. The company's revenue grew 1.7% year-on-year to ₹191.6 crore, compared with ₹181.3 crore in the corresponding quarter last year. EBITDA surged 38.7% year-on-year to ₹66.8 crore, with the EBITDA margin expanding significantly to 34.9% from 25.6% in the previous year. The profit after tax (PAT) margin improved to 22% from 18% in the year-ago quarter.
According to the company's results reported by CNBC TV18, operational performance showed strong momentum with pre-sales increasing 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 positioned as one of the leading real estate developers in the country.
As reported by CNBC TV18, shares of Sunteck Realty Ltd ended at ₹277.45, down by ₹2.15, or 0.77% on the BSE on the day of the announcement. The market reaction suggests investor focus remained on the company's operational performance rather than the land acquisition news.
