Sunteck Realty 's wholly owned subsidiary has acquired approximately 4.5 acres of land located in Borivali West, Mumbai. The acquisition enhances the company's residential portfolio in a key western suburb.

Land acquisition details

The transaction was disclosed to the stock exchanges on October 5, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table summarises the key details of the acquisition as disclosed:

The specific location adjacent to New Link Road represents a significant urban pocket in the western suburbs of Mumbai, known for its connectivity and demand for residential projects. This addition expands Sunteck Realty's existing land bank in the region.

Regulatory disclosure

The company confirmed that the transaction does not fall under related party transactions. The disclosure was signed by Rachana Hingarajia, Company Secretary, on October 5, 2026.

Sunteck Realty 's board has approved a scheme of arrangement to demerge its wholly owned subsidiary, Satguru Corporate Services Private Limited, and appointed EY as internal auditor.

Board decisions at a glance

The two decisions represent notable corporate governance developments for the real estate company. The approval of the scheme of arrangement with Satguru Corporate Services, a subsidiary of Sunteck Realty, reflects a significant structural change sanctioned at the board level. Alongside this, the appointment of EY as internal auditor signals a formal step in strengthening the company's internal audit framework.

Demerger scheme details

The Board of Directors, in its meeting held on October 1, 2026, approved the Scheme of Arrangement between Sunteck Realty Limited (Resulting Company) and Satguru Corporate Services Private Limited (Demerged Company). The scheme is being executed under Sections 230-232 of the Companies Act, 2013, and other applicable provisions. This move involves the separation of the wholly owned subsidiary from the parent entity, subject to regulatory approvals including the National Company Law Tribunal.

The scheme provides for the demerger and consolidation of the Demerged Business Undertaking of Satguru into Sunteck on a going concern basis. This undertaking comprises the residential real estate project under "Sunteck City 4th Avenue Undertaking". As Satguru is a wholly owned subsidiary, no shares are proposed to be issued pursuant to the scheme, ensuring no change in the shareholding patterns of either entity.

Financial impact of the demerger

The turnover of the Demerged Business Undertaking of Satguru for the year ended March 31, 2026, was ₹869 crore. This figure represents approximately 77% of the total consolidated turnover of Sunteck Realty for the same period. The consolidation is expected to achieve administrative and operational efficiencies, facilitate efficient pooling of financial and managerial resources, and enable project-specific capital allocation strategies.

Auditor appointment

Acting on the recommendations of the Audit Committee, the board appointed M/s. Ernst & Young LLP, Chartered Accountants, as the Internal Auditor of the company. The appointment is valid up to March 31, 2027. EY is described as a global leader in assurance, tax, transaction, and advisory services, recognized for enhancing risk management and governance processes through its internal audit services.