Goldman Sachs and Morgan Stanley have jointly acquired a 4.9 percent stake in Sunteck Realty Ltd through a block deal worth around ₹268 crore, according to stock exchange data.
The transaction was carried out on the Bombay Stock Exchange. Goldman Sachs Bank Europe SE bought about 36.52 lakh shares of the company. This represents a 2.5 percent stake. Morgan Stanley Asia (Singapore) Pte purchased nearly 35.09 lakh shares. This equals a 2.4 percent holding in Sunteck Realty.
Both investors acquired the shares at an average price of around ₹375 per share. The total value of the deal stood at ₹268.64 crore.
The shares were sold by CLSA Global Markets Pte Ltd. As a result, CLSA reduced its stake in the company. After the transaction, Goldman Sachs and Morgan Stanley became important institutional shareholders in Sunteck Realty.
Following the announcement of the block deal, Sunteck Realty’s stock saw positive movement in the market. Large institutional transactions usually attract attention from investors and traders. Such deals are often seen as a sign of confidence in a company’s business and future prospects.
Sunteck Realty Ltd is a Mumbai-based real estate developer. The company focuses mainly on residential projects. It also has select commercial and mixed-use developments. Most of its projects are located in the Mumbai Metropolitan Region.
The investment comes at a time when India’s real estate sector continues to draw interest from foreign institutional investors. Demand for housing in major cities remains steady. Developers have also improved their balance sheets and project execution in recent years.
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