KKR will invest Rs.150 crore in Sunteck Realty's residential projects in Mumbai

Q: Country's leading real estate developer Sunteck Realty Ltd said KKR and Co. Lp will invest around Rs.150 crore to fund its upcoming luxury residential projects in Mumbai’s Bandra Kurla Complex (BKC).

Sunil Joshi, Mumbai

4th February 2016

Real estate News in Mumbai

residential projects in mumbai

sunteck realty ltd

upcoming luxury residential projects in mumbai

upcoming residential project in bkc

kkr and co. lp

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Replies (3)

Do you know that high-yielding debt solutions in a self-liquidating residential product is a competitive sector where a number of funds are competing to lend to tier-1 developers. Funds that will be successful in the medium to long term will be the ones who can come out with innovative solutions.

Sashidharan,

4th February 2016

Comment

Yes, and till now, Sunteck has invested around Rs.1350 crore, including land and construction costs in the two projects. The investments have been funded through internal sources and cash received from the sale of these flats.

Sashidharan,

4th February 2016

Comment

As per Kamal Khaitan, chairman and managing director, Sunteck Realty Ltd.the company has grown with a good mix of debt and equity with a few exclusive partners in the past. Transaction with KKR will be the initiation of a long term strategic partnership.

bachu singh,

4th February 2016

Hi Bachu,
In the beginning of their relationship with the group KKR has invested in Signia Isles and Signia Pearl. Now they are looking forward to deepening their relationship with the group to explore more of these opportunities in the future.

Lokesh Patwa,

4th February 2016

Hope so, but last month, Sunteck Realty provided an exit worth Rs.270 crore to private equity firm Kotak Realty Fund from its investment in a mixed-use development project at Goregaon. In 2012, the PE firm invested around Rs.150 crore during the acquisition of 16 acres of land for the project. Kotak exited from the project at an internal rate of return of approximately 22%.

bachu singh,

4th February 2016

In a statement company said that it has signed a unconditional agreement with the global investment firm, under which the later would invest in Sunteck's flagship residential projects Signia Isles and Signia Pearl.

Sashidharan,

4th February 2016

Comment

Hi Sashidharan,
The projects, with around 150 flats costing Rs.20 crore and above, are expected to be completed this year. The company said it has sold about 110 units so far and has gained interest from many industrialists, senior executives of leading financial services firms and corporations, apart from Bollywood personalities, because of its proximity to the business hub.

Lokesh Patwa,

4th February 2016