New Delhi: Sunteck Realty Ltd has entered the ultra-luxury housing segment to meet rising demand with plans to launch two new projects in Mumbai and Dubai by June next year with an estimated revenue of Rs 20,000 crore.Sunteck Realty will develop these ultra-luxury housing projects under a by-invite-only real estate lifestyle brand 'Emaance'.
"We are entering into ultra-luxury residential segment under a new brand Emaance, derived from fusion of two words Immense and Indulgence, where each apartment cost will not be less than Rs 100 crore," Sunteck Realty CMD Kamal Khetan told PTI.The cost of the apartment will be as high as Rs 500 crore, he added.To begin with, Khetan said the company plans to launch two high-rise ultra-luxury housing projects at Nepeansea Road, Mumbai, and Dubai Downtown, near the Burj Khalifa Community.
This will be the company's first project outside India."We are targeting to launch these two projects by June next year," Khetan said, adding that the gross development value of these two proposed projects would be around Rs 20,000 crore.As the ranks of global billionaires and the ultra-wealthy expand, Sunteck Realty said the appetite for such apartments has risen.
Residences under these two projects would be priced upwards of Rs 2.5 lakh per sq. ft, placing them among the most exclusive and expensive in the country.Sunteck Realty Ltd is one of the leading real estate developers in the country.The company has a development portfolio of about 52.5 million square feet spread across 32 projects.
Sunteck Realty Ltd has reported a 47 per cent increase in its consolidated net profit to Rs 33.43 crore in the first quarter of this fiscal. Its net profit stood at Rs 22.78 crore in the year-ago period.Total income, however, fell to Rs 201.53 crore in the April-June period of 2025-26 fiscal from Rs 328.01 crore in the corresponding period of the preceding year.
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