Sunteck Realty to Sub-Divide Shares To Make it Affordable for Small Investors

In order to make it affordable for small investors, Sunteck Realty would sub-divide shares to face value or Rs 1 each, Sunteck Realty said on Thursday.

In its BSE filing, the Mumbai based developer said that the board has approved "sub-division of the equity shares of face value of Rs 2 each into equity shares of face value of Re 1 each, making it affordable for small investors".

Having consolidated a net profit at Rs 28.97 crore, Sunteck Realty posted an over seven-fold jump during the fourth quarter ended March 31, 2017.

Rising to Rs 216.14 crore in FY 16-17, Sunteck Realty's net profit has witnessed a sharp rise as compared to Rs 27.32 crore in the previous high.