The wholly owned subsidiary, ARPL, will engage in construction, real estate and allied activities.
The company has acquired 100% of the share capital of ARPL. It has subscribed to 10,000 equity shares of ARPL, each with the face value of Rs 10, aggregating to Rs 1,00,000.
The company said that the transaction does not fall within related party transaction, and none of the company’s promoter, promoter group or group companies have any interest.
Sunteck Realty (SRL) is one of India's leading luxury real estate developers. The company focuses on a city-centric development portfolio of about 52.5 million square feet spread across 32 projects.
The company reported consolidated net profit of Rs 42.52 crore in Q3 FY25 as against net loss of Rs 9.73 crore in Q3 FY24. Revenue from operations stood at Rs 161.76 crore in the December 2024 quarter, registering a growth of 281.06% YoY.
The scrip shed 0.96% to end at Rs 397.05 on Friday, 7 March 2025.