loader2
Login Open ICICI 3-in-1 Account

Entry Price

448.00

Target

490.00

Recommend Date

18-09-2019

Return

9.38 %
BUY

Date : 18-09-2019

Sunteck Realty (SRL) announced that it has acquired a premium project near Lokhandwala, Andheri (West) under an asset-light JDA model with Transcon Enterprises for a total development of ~1.1 msf. This is proposed to be a mixed use development. The company expects the project to generate revenues to the tune of ~| 2,772 crore in the next four to five years. The development could have a potential saleable area of ~0.95 msf (0.1-0.2 msf commercial & retail assets and balance residential development). The project could be launched in FY20E. SRL's revenue share in this JDA project being 54%, we expect the project to potentially generate ~| 930 crore pretax OCF for SRL over the life of the projects.