Sunteck Realty Ltd plans to unveil ultra-luxury housing projects in Mumbai and Dubai under the Emaance brand over the next 12 months. Residences under this brand will be priced upwards of ₹2.5 lakh per square foot.
The first project, at Nepean Sea Road in south Mumbai, is slated for launch in FY26. Sunteck pegs the gross development value (GDV) or revenue potential of these projects at ₹20,000 crore. Timely launches and a favourable customer response to these two projects could lift Sunteck’s medium-term pre-sales outlook.
Sunteck’s pre-sales is expected to clock a compound annual growth rate of more than 20% over FY25-27, aided by ongoing projects and a strong pipeline of new launches including the Dubai project, as per PL Capital.
Here and now
However, in the immediate future, traction in existing projects in the core Mumbai Metropolitan Region (MMR) is crucial to maintaining its pre-sales trajectory. In the June quarter (Q1FY26), Sunteck clocked its highest-ever Q1 pre-sales of ₹657 crore, up 31% year-on-year, aided by healthy sales in the uber-luxury projects at Bandra Kurla Complex and Nepean Sea Road.
Antique Stock Broking estimates Sunteck’s Q2 pre-sales at ₹600 crore, driven by projects at Mira Road, Vasai and Nepean Sea Road. In July, Sunteck signed a joint development agreement to develop a 3.5-acre luxury residential project at Mira Road, Mumbai, with an estimated GDV of ₹1,200 crore and a development potential of 5.5 lakh sq ft of carpet area. That apart, no new phases or projects were launched in Q2.
Sunteck ended FY25 with pre-sales of ₹2,531 crore, up 32% year-on-year, and is eyeing similar growth in FY26. Collections are expected to improve further in FY26, with the company securing an occupation certificate for SunteckCity 4th Avenue, part of the Mumbai Metropolitan Region Development Authority’s (MMRDA’s) Oshiwara District Centre project in Goregaon.
Concern over tariffs, IT layoffs
Sunteck’s shares are down 14% so far in 2025, versus a nearly 17% drop in the Nifty Realty index. Its strong balance sheet and robust collections will enable new project additions and increased land-related capital expenditure to drive sustainable growth.
However, concerns linger around a likely softness in housing sales in MMR amid US tariff-related uncertainties and layoffs in the Indian IT sector, which could affect future housing demand. This could make investors nervous as MMR’s share by value in Sunteck’s pre-sales was around 39% in Q1FY26. In this context, management commentary in the Q2 earnings call on new launches scheduled for the second half of FY26 will be crucial.
