Credit rating agency, CARE has reaffirmed 'A' rating to Sunteck Realty’s Non convertible Debenture (NCD) worth Rs 20 crore. The rating continues to derive strength from the company’s business strategy of acquiring land for projects with mediumterm development plans or through joint venture (JV) or joint development agreement (JDA), adequate cash flow visibility from tied-up receivables despite extension of timelines in key projects as well as financial flexibility due to its moderate financial leverage.
Sunteck Realty primarily focuses on the development of ultra premium and luxury residential properties in city-centric locations of Mumbai. Its development activities include multi-unit apartment buildings, block re-developments, planned communities and commercial spaces.
