Latest news with #Mumbai-focused
Mint
23-06-2025
- Business
- Mint
Sunteck Realty readies recipe for a strong FY26 even as shares await a rebound
Sunteck Realty Ltd was recently appointed as the developer for the redevelopment of a housing society in Mumbai's Andheri (East). The gross development value (GDV) or revenue potential of this project is estimated at ₹1,100 crore, as per media reports. This is a 2.5-acre land parcel and about 275,000 square feet will be available for free sale. Mumbai-focused Sunteck has entered the redevelopment space to unlock high-margin opportunities, the management told Nirmal Bang Institutional Equities at the brokerage's investors conference last week. Sunteck's focus remains on projects with an internal rate of return of 30-40% and has several redevelopment projects in advanced planning stages. It is also working on the redevelopment project in Bandra West, which is likely to be launched by FY26-end/FY27. Expansion of the portfolio through redevelopment would enable Sunteck to see asset-light growth. However, redevelopment projects face challenges such as slower approvals leading to execution delays and hence, rising project development cost. Sunteck clocked record pre-sales of ₹2,531 crore in FY25, up 32% year-on-year, aided by strong traction in uber-luxury and upper mid-income projects. It expects similar pre-sales growth in FY26. Also Read: Realtors eye new addresses in tier-2 cities While its launch pipeline is robust, most larger listed real estate companies are aggressively launching projects across geographies and are targeting similar growth rates. So, Sunteck would need timely execution to give it an edge. Sunteck has lined up projects of around ₹7,600 crore GDV for FY26. This includes the uber-luxurious Nepean Sea Road project, new phases in existing projects at Oshiwara District Centre, Goregaon (5th Avenue), and one new tower each in Sunteck Sky Park Mira Road and Sunteck World, Naigaon. Its Burj Khalifa Community, Dubai project with GDV of ₹9,000 crore is now under design and approval stage, and the management is targeting a late-FY26 or early-FY27 launch. Also Read: New launches, Dubai entry elevate Sunteck Realty's pre-sales outlook Sunteck's 4th Avenue, Sunteck City is likely to receive occupancy certificate in FY26. Overall, Sunteck has identified ten projects with a GDV of ₹39,370 crore to boost medium-term pre-sales growth. Most of these upcoming projects/phases are in uber luxury and premium luxury segments. Sunteck's shares are down 27% in the last one year versus the Nifty Realty index's 10% decline. Nuvama Research noted that Sunteck's strong balance sheet and a potential pickup in launch trajectory are the key positives. However, softness in housing volumes has led to concerns about future sales growth. Plus, geographical risk in the case of Sunteck is high as its offerings are mainly concentrated in the Mumbai Metropolitan Region. Also Read: Penthouse, a villa in the sky for the super-rich
Time of India
15-06-2025
- Business
- Time of India
Global Campuses Head to Mumbai, Vidarbha Left Watching, Say Statehood Activists
Nagpur: As five top international universities prepare to establish campuses in Navi Mumbai, statehood activists in Vidarbha have once again raised their voices against what they call 'chronic regional neglect'. The Maharashtra govt's decision to welcome institutions like Aberdeen University, University of York, University of Western Australia, Illinois Institute of Technology, and Istituto Europeo di Design (IED), who have expressed interest in setting up their campuses in Navi Mumbai, has sparked criticism from Vidarbha leaders. They claim the eastern region is being reduced to a spectator in the state's development narrative. Speaking to TOI, statehood supporters argue that premier institutions could have been set up in Nagpur or Amravati, cities that not only have space but also the potential to transform into knowledge hubs. Instead, Navi Mumbai continues to be the focal point of investment and policy attention, leaving Vidarbha sidelined. Former MLA Wamanrao Chatap criticised the govt, calling them 'anti-Vidarbha', and claimed that the decision to prioritise Navi Mumbai is politically motivated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo "This is being done to keep alliance partners happy and the govt in power," he alleged, targeting the chief minister for 'compromising Vidarbha's interests'. Atharv Kothekar, senior digital marketing manager at the Association for Industrial Development (AID), echoed similar sentiments. "Vidarbha lies at the centre of India and has immense logistical value, but it is consistently left out of major policy decisions," he said. Despite institutions like AIIMS and IIM existing in Nagpur, they are rarely highlighted in development narratives. Kothekar added that inadequate infrastructure — including limited international air connectivity — and a Mumbai-focused model of development are keeping Vidarbha from progressing. "Mumbai is saturated with educational institutions and companies too. It's time we build an ecosystem in Vidarbha, starting with investment in basic infrastructure," he said. Another expert on the topic, speaking on the condition of anonymity, said the state govt is diverting already strained resources to Mumbai and western Maharashtra. "There is no political will to support Vidarbha. Even with 62 MLAs from this region, the power still lies in the hands of leaders from western parts of the state," he said. He added that local initiatives like Symbiosis College in Nagpur have proven doubters wrong, showing that the people are ready — it is only the govt that lacks intent. "This imbalance only reaffirms our demand for a separate Vidarbha. Without statehood, these aspirations will never materialise," he said.
Mint
22-04-2025
- Business
- Mint
For Oberoi Realty, timely launches and leaner inventory key catalysts in FY26
Oberoi Realty Ltd's March quarter (Q4FY25) was dull. Pre-sales or bookings at ₹ 853 crore fell over 50% sequentially as well as year-on-year, according to provisional data. The reading is below some analysts' estimates. For instance, Antique Stock Broking was pencilling in Q4 pre-sales of ₹ 1,000 crore. The lack of new project launches played spoilsport for the Mumbai-focused real estate developer. Thus, it could sell 78 units in Q4 versus 554 units in Q3FY25 and 227 in Q4FY24. Recall that the launch of The Jardin project at Pokhran Road in Thane and the launch of a new tower in the Elysian project at Goregaon had buoyed Q3FY25 and Q4FY24 pre-sales, respectively. To be sure, FY25 ended on a decent note for Oberoi with pre-sales growth of about 32% year-on-year to ₹ 5,266 crore. This came from selling 1.3 million square feet across 928 units. In FY24, it had sold 705 units. Oberoi added many new projects during the year, including redevelopment projects across various micro-markets in the Mumbai Metropolitan Region. This gave FY25 pre-sales a boost. Also Read | Oberoi Realty: Why investors have little room for optimism Oberoi steps into FY26 with the much-anticipated foray in the Gurugram market which is crucial for maintaining pre-sales momentum and diversifying its geographical mix. Projects at Adarsh Nagar, Worli, and Tardeo in Mumbai are expected to be launched in FY26. Apart from timely new project launches, inventory liquidation at existing projects is another crucial factor to determine outlook on pre-sales and realisations. 'Average realisations surged 58% year-on-year/114% sequentially to ₹ 62,117/sq ft in Q4FY25, indicating larger contribution from the Worli project, whereas the average ticket size was up 41% year-on-year/216% sequentially to ₹ 10.9 crore," said a Nuvama Research report dated 21 April. Oberoi managed to book only two units in the high-ticket marquee project Three Sixty West, located at Worli in Mumbai, in Q3FY25, much lower than the run rate of six units in the previous two quarters. Also Read: Realty's FY25 pre-sales goal hinges on H2 delivery Meanwhile, a comforting factor is that Oberoi's balance sheet is in good stead aided by fundraise and robust cash collections. These have helped ease the debt burden and provide Oberoi's ability to pursue new business development opportunities. Oberoi's shares have gained 19% in the past year, versus negative returns of the sectoral Nifty Realty index. But Nuvama cautions that the weakness in housing volumes has led to concerns about future sales growth, compelling the brokerage house to slash net asset value (a valuation metric for realty stocks) premium for the Oberoi stock to 35% from 60% earlier. Also Read: Realtors eye new addresses in tier-2 cities
