Sunteck Realty subsidiary acquires 4.5 acres of land in Mumbai's Borivali West

Realty firm Sunteck Realty Ltd on Monday said its wholly owned subsidiary has acquired approximately 4.5 acres of land adjacent to New Link Road in Borivali West, Mumbai."We write to inform you that the wholly owned subsidiary of the Company has acquired land admeasuring approx. 4.5 acres, adjacent to New Link Road, Borivali West, Mumbai," according to a stock exchange filing.Sunteck Realty said the transaction does not fall under a related party transaction.ALSO READ | Sunteck Realty Q3 profit jumps 34% as revenue more than doubles to ₹344 croreFirst Quarter ResultsSunteck Realty Ltd reported a net profit of ₹42.3 crore for the first quarter of FY27, up 26.4% year-on-year from ₹33.4 crore in the corresponding quarter last year.The company's revenue increased 1.7% year-on-year to ₹191.6 crore, compared with ₹181.3 crore in Q1 FY26.Earnings before interest, taxes, depreciation and amortisation rose 38.7% year-on-year to ₹66.8 crore, from ₹48.1 crore in the year-ago period. The EBITDA margin expanded to 34.9% from 25.6%.The company's profit after tax margin increased to 22% from 18% in the year-ago quarter.ALSO READ | Sunteck Realty receives ₹59 crore GST notice for TDR procurement in FY23On the operational front, pre-sales increased to around ₹787 crore in Q1 FY27, up 20% year-on-year. Collections stood at around ₹409 crore, registering a 17% year-on-year growth.Mumbai-based Sunteck Realty is one of the leading real estate developers in the country. Shares of Sunteck Realty Ltd ended at ₹277.45, down by ₹2.15, or 0.77%, on the BSE.