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Sunteck Realty is launching two ultra-luxury residential projects in Mumbai and Dubai under its new brand Emaance, with apartment prices starting at INR 100 crore and reaching up to INR 500 crore. Located at Nepeansea Road and the Burj Khalifa Community, these high-rise developments target the global ultra-wealthy. With a combined gross development value of INR 20,000 crore, the projects mark Sunteck's first overseas venture. The company has a strong 52.5 million sq. ft development portfolio and recently reported a 47% increase in net profit despite a drop in total income.
Sunteck Realty Ltd is set to enter the ultra-luxury residential segment with two high-end housing projects, one in Mumbai and the other in Dubai. These developments will be launched under a by-invite-only lifestyle brand called Emaance, a name derived from the words "Immense" and "Indulgence." According to company CMD Kamal Khetan, each apartment in these projects will be priced at a minimum of INR 100 crore, with some units reaching up to INR 500 crore. Advertisement
The Mumbai project will be located at Nepeansea Road, while the Dubai development will be in the Burj Khalifa Community, marking Sunteck Realty's first project outside India. The company aims to launch both projects by mid-next year, with a combined gross development value of around INR 20,000 crore. Sunteck Realty already owns the land required for these ventures.
The company has observed growing demand for ultra-luxury residences, driven by an increase in global billionaires and high-net-worth individuals. The apartments are expected to be priced upwards of INR 2.5 lakh per square foot, positioning them among the most exclusive and expensive properties in the region.
Sunteck Realty is a leading developer in India, managing a portfolio of approximately 52.5 million square feet across 32 projects. The company reported a 47% rise in its consolidated net profit to INR 33.43 crore in the first quarter of this fiscal year, compared to INR 22.78 crore during the same period last year. However, total income declined to INR 201.53 crore from INR 328.01 crore year-on-year in the April-June period.
Source PTI
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