Mumbai-based Sunteck Realty pumps $10 to $20 million in SLIPL to fuel Growth

Following the announcement that its board had approved an investment of around $10 million to $20 million in its wholly owned subsidiary (WOS), Sunteck Lifestyle International (SLIPL), Sunteck Realty saw a 1.36% increase in value to Rs. 392.20.

SLIPL was established on October 25, 2013, as a private company limited by shares in Mauritius. Its primary function is that of an investment holding company.

The money will be used to support additional funding for organizations working on the ongoing Dubai Project. 

Depending on the Dubai Project's finance needs, the investment will be made in one or more tranches and structured as debt, convertible instruments, preference shares, or equity, according to the company's exchange filing. It is anticipated that the infusion will occur during the following 24 months.

The deal will be carried out at arm's length, yet it qualifies as a related party transaction because it involves Sunteck Realty and its wholly owned subsidiary. Additionally, the business made it clear that none of its group firms, promoters, or promoter groups have any stake in this deal.

After the investment, SLIPL will continue to be a fully owned subsidiary of Sunteck Realty.

One of the top developers of luxury real estate in India is Sunteck Realty (SRL). The company specializes in 32 projects totaling approximately 52.5 million square feet of city-centric development.

In comparison to the net loss of Rs. 9.73 crore in Q3 FY24, the company posted a consolidated net profit of Rs. 42.52 crore in Q3 FY25. In the December 2024 quarter, operating revenue was Rs. 161.76 crore, reporting a growth of 281.06% YoY.