New Delhi: Sunteck Realty Ltd has issued commercial papers of Rs 25 crore offering interest of 8.25 percent per annum. The commercial papers have been issued on 8 November and the maturity date is 6 March 2020, that is, they have a tenure of 119 days, the company said in a regulatory filing.
The papers are unsecured in nature and CARE Ratings have given them a rating of A1+.
Sunteck is a Mumbai-based company with focus on luxury and ultra-luxury residential real estate development. It has completed 6 projects with an area of around 2 million sq ft. The flagship project of the company are three residential projects- Signia Pearl, Signature Island and Signia Isles spread over 1.5 million sq ft at Bandra Kurla Complex in Mumbai.