Mr. Kamal Khetan ,Chairman and Managing Director, Sunteck Realty Ltd has over 18 years of professional experience in diversified sectors, largely in the real estate. He has an engineering degree in Electronics and Communications from Mangalore University.
Sunteck Realty is one of Mumbai’s niche premium real estate developers, which commenced its operations in the year 2000. The Company is currently developing an approximate area of 30 million square feet of high end residential projects and prime commercial projects spread across the cities of Mumbai, Nagpur and Goa. Over the past several years, the Company has focused on building a strong position as a brand synonymous with luxury and living. Founded and spearheaded by Mr. Kamal Khaitan, Sunteck Realty is a debt free company with a total market capitalization of INR 40 billion and is a listed on the National Stock Exchange (NSE) and BSE.
Speaking with Yash Ved of IIFL, Kamal Khetan says, "We expect 20% price rise in the residential segment and we are bullish on residential side."
Brief us about your current and upcoming residential and commercial projects?
The Company has already launched its high-end residential landmark projects -Signature Island at BKC with Duplex Apartments with areas of approx. 7,000 sq.ft to 11,000 sq.ft. Owing to a huge potential at BKC, the company plans to launch another two luxury residential project Signia Isles & Signia Pearl in the near future.
"Signature Island" is a high end luxury residential project which has been conceptualized from our experience in the industry and with inputs from some of the best minds who are luxury seekers. To ensure the highest quality of design & construction, the best & most reputed firms in India have been associated with the project, starting from the architects (Talati & Panthaky), structural engineers (Sterling Engineering Consultancy Services) and contractor (Shapoorji Pallonji). The location of the project, the size of the units, the clientele targeted, the intermediaries involved, the design of the apartment, all have been kept the most exclusive. It’s a one of its kind residential project in India.
The amenities that Sunteck Realty projects offer are best of class that include health club, gymnasium, indoor temperature controlled swimming pool, coffee lounge, children’s play garden, digital security system, car wash, concierge etc.
The company will launch Signia High at Borivali this festive season. 53 Storied Vaastu complaint premium residential tower with 96 opulently. Adorned apartments and sky villas, Sky Lounge with world class observatory and viewing deck with Business Center, Library lounge for residents.
The company has announced the launch of 'Signia Oceans', a 26 storey high-end luxury residential project in Airoli, New Mumbai. Located in Airoli,
The company is planning to launch its luxury residential projects in Mulund and Goregaon.
Brief us about current projects in hospitality and retail space?
We do not have current plans for these two asset classes on standalone basis, but we would continue to evaluate these asset classes. In our mixed use projects, we have retail space as part of the overall development designed as community shopping center rather than mall developments.
What is the total area under development?
Sunteck Realty Ltd is a leading real estate developer, with a Mumbai focus. It has over 30 million square feet of city centric developments across 27 projects. Of these developments, more than 80% are premium luxury residential with balance being commercial spaces. Nearly 80% of Sunteck’s economic value emanates from its Mumbai projects.
Apart from Goregaon, are you in the race for acquiring any Mumbai plots? Are you planning any JV?
We are a Mumbai focused company, and thus are constantly evaluating business growth opportunities across Mumbai. We are in advanced discussions for couple of situations, which will be announced when we have definitive agreements. We continue to acquire properties through various routes in Mumbai.
Government tenders (we have participated and won tenders in BKC MMRDA), Airoli (CIDCO)
Privately negotiated acquisitions with land owners – either as 100% acquisition, joint development or joint ventures, as the situation suggests or Redevelopment projects.
We are expecting generating cash flows of US$1bn by FY2013.
What is the outlook for the real estate industry?
The real estate industry is going to continue to be a high growth sector, with a significant potential to not only provide homes and business locations but also sustainably provide employment.In the medium-long term, we expect the industry to benefit from newer construction technology, design and building automation, as well as green technology.We also expect larger play in partnerships with government and local bodies to be able to develop comprehensive high density developments with requisite infrastructure and public amenities as well.
What is your view on real estate regulator?
We believe that the country requires a real estate regulator. This will help in making the sector more organized and customers and stakeholders to gain confidence in the industry.
How do you see the pricing scenario in the coming fiscal?
We expect 20% price rise in the residential segment and we are bullish on residential side. The commercial segment will take time to revive.
What is current employee strength?
We currently have around 125 employees, and are rapidly growing our headcount.
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