Sunteck Realty’s second strategic acquisition in times of epidemic, bought land in Mumbai

Real estate company Sunteck Realty has announced the purchase of a 50-acre piece of land for a residential project in Vasind, Mumbai. Sunteck Realty said that the project would generate revenue of Rs 1,250 crore in the next four to five years.

However, the company has not said at what price it is buying the 50 acres. Kamal Khaitan, chairman and managing director of Sunteck Realty, said, “This is our second strategic acquisition in an era of epidemic, which reflects our strategy to strengthen our brand presence.”