NEW DELHI: Sunteck Realty (SRL) has secured a joint development agreement (JDA) for a project on approximately 3.5 acres (13,500 sq meters) of land in Mira Road, Mumbai.
The company forecasts a saleable area of about 5.5 lakh sq ft from this development.
The estimated gross development value (GDV) of the project is around ₹1,200 crore.
Representative image VISAKHAPATNAM: Construction activity in Vizag is on the rise, both in public and private sectors. However, builders caution that this growth is being hampered by a shortage of skilled labor. Projects related to smart city upgrades, airport expansions, and housing are progressing, yet contractors report that the lack of trained workers is leading to delays and increased costs. Contractors are struggling to find experienced masons, electricians, and finishing workers. This shortage is extending project timelines and inflating labor costs, particularly impacting small and medium enterprises. National industry assessments pinpoint this lack of skilled labor as a significant challenge…
NEW DELHI: Eldeco Infrastructure and Properties has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) as part of its initial public offering (IPO) initiative. The offering includes a combination of fresh share issues totaling ₹800 crore and an offer-for-sale amounting to ₹200 crore from promoter selling shareholders. Each equity share carries a face value of ₹5. The promoters, Pankaj Bajaj and Bandana Kohli, are selling equity shares worth ₹102 crore and ₹98 crore, respectively, each with a face value of ₹5. The company may also consider a pre-IPO placement of up to…
Representative image NEW DELHI: Sunteck Realty Ltd is venturing into the ultra-luxury housing market to address increasing demand. The company plans to unveil two new projects in Mumbai and Dubai by June next year, aiming for an estimated revenue of ₹20,000 crore. Sunteck Realty will launch these ultra-luxury residences under its exclusive brand ‘Emaance’, a blend of ‘Immense’ and ‘Indulgence’. “We are entering the ultra-luxury residential segment under Emaance, with costs starting at ₹100 crore per apartment,” said Kamal Khetan, CMD of Sunteck Realty, in an interview with PTI. The price of some units could reach as high as ₹500…
