Construction Infrastructure
Sunteck Realty plans JDA to develop 10 mn sq ft at Shahad (Kalyan)
Sunteck Realty plans to develop integrated residential township in about 50-acre land parcel under the asset light joint development agreement (JDA) model with Amar Dye Chem at Shahad (Kalyan), Mumbai , the company said in a media release.
The project will see a potential development of about 10 million sq ft and is expected to generate around Rs 9,000 crore over the next 7-8 years, according to the company.
“Market consolidation in favor of quality and well-funded real estate companies has been an ongoing trend and Sunteck has been a key beneficiary of this trend, continuously expanding its business portfolio with attractive return opportunities,” said Kamal Khetan, chairman, Sunteck Realty.
This will be the fourth acquisition by Sunteck since covid-19 pandemic. Before this it has done three project acquisitions at Vasai, Vasind and Borivali, totaling about 8 million sq ft.
News Source: Business Standard
Construction Infrastructure
The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra
Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.
With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.
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