New Delhi, June 23 -- Sunteck Realty Ltd was recently appointed as thedeveloper for the redevelopment of a housing society in Mumbai's Andheri (East). The gross development value (GDV) or revenue potential of this project is estimated at Rs.1,100 crore, as per media reports. This is a 2.5-acre land parcel and about 275,000 square feet will be available for free sale.

focused Sunteck has entered the redevelopment space to unlock high-margin opportunities, the management told Nirmal Bang Institutional Equities at the brokerage's investors conference last week. Sunteck's focus remains on projects with an internal rate of return of 30-40% and has several redevelopment projects in advanced planning stages.

It is also working on the redevelop...