Mumbai's leading real estate development company, Sunteck Realty, with differentiated strengths across ultra-luxurious & premium residential and commercial properties, today announced that its promoters have increased their stake from 73.52% to 73.75%. This move of the promoter shows confidence in the company's growth prospects and strong fundamentals.

Kamal Khetan, chairman & managing director said, ''With strong balance sheet, robust outlook on existing & new pre-sales and cash flow visibility, we are confident that the performance of the company will continue to grow. We are very well poised to capitalize on the several opportunities opening up in the real estate industry.''

Shares of the company gained Rs 6.35, or 2.88%, to trade at Rs 227.00. The total volume of shares traded was 58,938 at the BSE (2.53 p.m., Thursday).