House For Rs 100 Crore? Sunteck Realty To Launch Ultra-Luxury Homes In Mumbai, Dubai

Realty firm Sunteck Realty Ltd. has announced its foray into the ultra-luxury housing segment with plans to launch two new projects in Mumbai and Dubai by June next year, with an estimated revenue of Rs 20,000 crore.

The company will develop these ultra-luxury projects under a new 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.

He added that the apartments could cost as high as Rs 500 crore.

The company's initial offerings will include two high-rise ultra-luxury developments—one at Nepeansea Road in Mumbai and the other in Dubai Downtown, near the Burj Khalifa community. This will mark Sunteck Realty’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 the two proposed projects would be around Rs 20,000 crore.

As the ranks of global billionaires and the ultra-wealthy expand, the company said the appetite for such exclusive apartments has grown. Residences under these projects will be priced upwards of Rs 2.5 lakh per sq. ft, placing them among the most expensive in the country.

Sunteck Realty, one of the leading real estate developers in India, currently has a development portfolio of about 52.5 million square feet spread across 32 projects.

The company recently reported a 47% increase in its consolidated net profit to Rs 33.43 crore in the first quarter of the current fiscal, compared with Rs 22.78 crore in the year-ago period. Total income, however, declined to Rs 201.53 crore in April-June 2025-26 from Rs 328.01 crore in the corresponding quarter of the previous year.

(With inputs from PTI)