Daijiworld Media Network - Mumbai
Mumbai, Sep 29: Realty major Sunteck Realty Ltd. announced its entry into the ultra-luxury residential segment with plans to launch two exclusive projects in Mumbai and Dubai by June next year, under a new by-invite-only brand, Emaance. The combined gross development value of the projects is estimated at Rs 20,000 crore.
Speaking to PTI, Sunteck Realty CMD Kamal Khetan said, “We are entering the ultra-luxury segment with Emaance, derived from the fusion of the words Immense and Indulgence, where each apartment will cost no less than Rs 100 crore, with prices potentially reaching up to Rs 500 crore.”
The first offerings include high-rise developments at Nepeansea Road in Mumbai and Dubai Downtown near the Burj Khalifa, marking Sunteck Realty’s maiden project outside India. Residences in these projects will be priced upwards of Rs 2.5 lakh per sq. ft, placing them among the country’s most expensive apartments.
Highlighting the growing demand for ultra-luxury homes, Khetan said, “With the expansion of the global billionaire and ultra-wealthy community, the appetite for such exclusive apartments has surged.”
Currently, Sunteck Realty’s portfolio spans 52.5 million sq. ft across 32 projects. The company recently reported a 47% rise in consolidated net profit to Rs 33.43 crore in Q1 of FY 2025-26, although total income fell to Rs 201.53 crore from Rs 328.01 crore in the same quarter last year.
The ultra-luxury Emaance projects signal Sunteck Realty’s ambition to cater to the highest echelon of homebuyers in India and abroad.