Launch Timeline
Sunteck Realty Targets RERA Launch for Nepean Sea Road Project Before FY27 Ends
Sunteck Realty said on its Q2 FY27 earnings call on 27 October 2026 that it aims to launch its Nepean Sea Road project in South Mumbai under RERA before the end of FY27, which closes on 31 March 2027. Demolition work at the site is already underway, but RERA approval was still pending as of the call.
| Developer | Sunteck Realty Limited, Mumbai-based, promoted by the Khetan family |
|---|---|
| Location | Nepean Sea Road, Malabar Hill area, South Mumbai (PIN 400006) |
| Brand | Emaance, an invitation-only ultra-luxury brand |
| Configuration | Limited number of residences, reported as 40 to 50 homes of 8,000 to 10,000 sq ft |
| Price band | From about ₹2.5 lakh per sq ft, as stated in company material |
| Project value | About ₹3,000 crore GDV per the Chairman and Managing Director on the 27 October 2026 call; one third-party profile cites ₹5,400 crore |
| Land acquisition cost | About ₹200 crore, per an earlier summary |
| RERA status (as of 28 October 2026) | RERA approval pending; launch targeted before 31 March 2027 |
What happened
On 27 October 2026, Sunteck Realty held its Q2 and H1 FY27 earnings conference call, which covered the Nepean Sea Road project. Analysts asked about the project, which management described as a crown asset in its portfolio.
Abhinav Sinha of Jefferies asked whether a RERA launch could happen by March 2027. Chairman and Managing Director Kamal Khetan said the company is looking to launch with RERA, definitely before the end of FY27. Prashant Chaubey, Chief Financial Officer, also took part in the call.
Khetan said the project currently represents about ₹3,000 crore of gross development value (GDV). He said it was significant to the company even at that size.
Project details
The project is marketed under the Emaance brand and is also spelled Nepeansea Road in company material. Company material describes 40 to 50 residences, each planned to occupy a full floor with double-height duplex layouts and ceiling heights above 4.5 metres. Residences are priced from about ₹2.5 lakh per sq ft.
One third-party report says each residence will start at more than ₹150 crore. The same profile puts the total project value at ₹5,400 crore, a figure that differs from the ₹3,000 crore that management cited on the call.
Company material says Emaance was announced on 29 September 2025 as an ultra-luxury brand, with Nepean Sea Road and Dubai as flagship locations and about ₹20,000 crore of projects planned over 12 months across both.
Approval timeline and how it has moved
- April 2026: the company said it was confident of receiving construction and RERA approvals within the first half of FY27.
- Earlier 2026 filings: approval was expected by the end of Q4 FY26 or Q1 FY27.
- 27 October 2026: management said RERA launch is targeted before the end of FY27, which closes on 31 March 2027.
The timing has shifted several times. As of 28 October 2026, RERA approval has not been announced.
Sales while the project is pre-RERA
An earlier call summary said the Nepean Sea Road project is currently tenancy-based and that new sales need RERA registration. Management said the project involves complex tenancy arrangements, and that tenancy sales would continue in the interim. Management also expected collections to grow by 25% to 30%, with significant contributions once construction begins.
What it means for buyers
Buyers should note that the company's stated RERA timeline has moved from the first half of FY27 to a target before 31 March 2027. An earlier analyst summary said that any delay beyond Q1 FY27 could affect fresh booking momentum. A third-party analysis also noted that launches in this group have depended on approvals and have slipped before.
Until RERA approval is granted and the project is registered, new sales of units at this site cannot be treated as RERA-registered purchases.
What it means for investors and the market
An analyst summary described RERA approval as a key near-term trigger, since approval would clarify the project's ability to progress to later milestones. Management kept its full-year FY27 pre-sales growth target at 25%.
On the call, management said its FY27 launch pipeline, excluding Dubai, stands at INR 70 billion, with the second half weighted toward launches. Q2 FY27 revenue rose 27% year on year to about ₹321 crore, according to the company's reported figures. India Ratings has affirmed the company's IND AA/Stable rating.
Company background
Sunteck Realty Limited is a Mumbai-based developer focused on premium residential and commercial projects in the Mumbai Metropolitan Region. The company was founded in 2000 and is promoted by the Khetan family. It is listed on BSE (512179) and NSE (SUNTECK). Its previous projects include Signature Island at Bandra Kurla Complex, SunteckCity at Oshiwara District Centre and Sunteck World at Naigaon.
What comes next
- RERA approval and launch: the company is targeting both before 31 March 2027.
- Demolition: management said demolition of the third or fourth building on the site would begin within days of the call.
- Construction: an analyst note said construction for the first phase is expected to start in FY27.
Frequently asked questions
When does Sunteck Realty plan to launch its Nepean Sea Road project?
Management said on 27 October 2026 that it aims to launch the project under RERA before the end of FY27, which ends on 31 March 2027.
Has RERA approval been granted for the Nepean Sea Road project?
As of 28 October 2026, RERA approval was still pending, according to the company's earnings call.
How many homes will the Nepean Sea Road project have?
Company material describes a limited number of residences, reported as 40 to 50 homes, each of 8,000 to 10,000 sq ft.
What is the price of homes at the project?
Company material says residences are priced from about ₹2.5 lakh per sq ft. One third-party report says each residence will start at more than ₹150 crore.
Can buyers book homes at the project now?
An earlier call summary said the project is currently tenancy-based, and that new sales require RERA. Management said tenancy sales would continue in the interim.
What is the project's total value?
On the 27 October 2026 call, management put the project at about ₹3,000 crore of GDV. A third-party profile cites ₹5,400 crore.
Sources
- Sunteck Realty Reports Strong Q2 FY27, Revenue Jumps 27%; Acquires New Borivali Land Parcel (Free Press Journal)
- Sunteck Realty Launches Ultra-Luxury 'Emaance' Brand With ₹20,000 Crore Projects in Mumbai and Dubai (The Realty Today)
- Sunteck Realty enters Dubai's market with ultra-luxury project pipeline (Business Standard)
- About Sunteck Realty (Sunteck official site)