Sunteck Realty receives ₹59.44 crore GST show-cause notice over TDR purchases
As filed · Sunteck Realty Limited has informed the Exchange about intimation under Regulation 30 of the SEBI Listing Regulations.
What happened
FactSunteck Realty received a GST Form DRC-01 show-cause notice for FY 2022-23 alleging tax liability on procurement of Transferable Development Rights from the open market. The notice aggregates to ₹59,43,79,402, including interest and penalty; the company says it will contest the demand and expects no material financial impact.
Why it matters
CapitSignal interpretationLitigation creates a contingent liability that is not in reported profit until it crystallises.
Scale
- 28.4% of FY26 revenue
₹59.44 Cr stated in the filing against ₹209.42 Cr revenue (FY26, standalone)
Source: financial_facts · exchange_table
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Margins
ContradictedEBITDA stood strong at INR82 crores with an EBITDA margin of 24%.
We reported net profit of INR57 crores, which is a 34% growth over quarter 3 of FY '25.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Amount claimed against the company
- Whether a provision has been made
- Next hearing or order date
- we will look for those completion of approval, and obviously, thereafter RERA and we'll be looking to launch t (management committed by H1 FY27)
- we are looking to launch one tower in Mira Road, which is Sunteck Sky Park, fourth tower, and then Vasai, we a (management committed by H1 FY27)
Evidence
- Sunteck Realty Limited has informed the Exchange about intimation under Regulation 30 of the SEBI Listing Regulations.(opens the original filing in a new tab)
- Earlier statement · 9M FY26
- Latest statement · 9M FY26
- Earlier statement · 9M FY26
How CapitSignal classified this
- Reasoning:
- The notice creates a contingent tax dispute of ₹59.44 crore. Sunteck Realty says the transactions are outside the scope of GST, the notice uses twice the actual amount, and a detailed audit for the year had already concluded.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%