Mumbai: Investment of Rs 280 crore has been planned in the fiscal year 2014 by Piramal Sunteck Realty Pvt Ltd. Piramal Sunteck is the joint venture of the Sunteck Realty Ltd and Piramal Realty Ltd which will invest the money in its projects across the country including its Mumbai based residential projects.The joint venture is mostly focusing on the development projects in metro cities along with few projects in tier-2 cities. The company has the 36 million sq ft area under construction out of which 25.7 million is to be established in Mumbai.The group has invested Rs 130-140 crore in the previous fiscal year. The new investment will be endowed in three premium residential projects situated in Navi Mumbai, Mulund and Jaipur with apartments ranging around Rs 2 crore each.Sunteck is a young company in the real estate market with fewer track records yet the company observed the profit of Rs 185.8 crore in the December quarter against the Rs 6.3 crore. Fourth quarter earnings are yet to be announced by the company. The total revenue of the company was noted to be Rs 416.5 crore in December.Piramal Sunteck has announced it project, Signature Island situated in the Bandra-Kurla Complex (BKC) which received a great response. Prices in the Signature Island were ranging between Rs 35 to Rs 40 crore. Company officials said that the revenue of this project will start reflecting in their profit n first quarter of the fiscal year 2014.