Sunteck Realty acquires 4.5 acres in Mumbai
Sunteck Realty Limited has acquired about 4.5 acres of land in Borivali West, Mumbai, through its wholly owned subsidiary.
The land is adjacent to New Link Road, adding a sizeable development opportunity in a key Mumbai micro-market.
The acquisition gives Sunteck Realty additional development potential in Borivali West, where connectivity and residential demand support premium real estate projects. The company also delivered a strong Q1 FY27 operational performance, with pre-sales rising 20% YoY to about ₹787 crore and collections increasing 17% to ₹409 crore.
Financially, Q1 FY27 net profit rose 26.4% YoY to ₹42.3 crore, while EBITDA increased 38.7% to ₹66.8 crore. The EBITDA margin improved sharply to 34.9% from 25.6%, despite revenue growth of only 1.7% to ₹191.6 crore. This margin expansion and stronger pre-sales are more important than the headline land acquisition, in my view, as they indicate improving execution and cash generation.
At ₹279.70, the stock is trading near the ₹280 zone. I would watch whether it sustains above ₹280 with continued pre-sales growth and collections. A sustained move above this level could support further upside, while failure to hold it would keep the stock range-bound.
My stance is cautiously positive, with ₹280 as the immediate level to watch.