Sunteck Realty Limited announces Operational Update for Q1FY22
- Pre-sales grows by 74% yoy in Q1 FY22 to Rs 176 cr
- Collections grows by 165% yoy in Q1 FY22 to Rs 172 cr
- Collection efficiency stood strong at 98% of Pre-sales in Q1 FY22 against 64% in Q1 FY21
Mumbai, July 12, 2021: Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q1 FY22 operational updates.
| Rs cr | ||||
| Pre-Sales | Segment | Q1 FY22 | Q1 FY21 | FY2021
(Full Year) |
| BKC Projects | Luxury | – | – | 90 |
| ODC Projects | Mid-income | 76 | 41 | 484 |
| Naigaon Projects | Affordable | 65 | 48 | 217 |
| Other Projects | Mixed | 35 | 12 | 231 |
| Total | 176 | 101 | 1,022 | |
| Rs cr | ||||
| Collections | Segment | Q1 FY22 | Q1 FY21 | FY2021
(Full Year) |
| BKC Projects | Luxury | 26 | – | 95 |
| ODC Projects | Mid-income | 59 | 29 | 278 |
| Naigaon Projects | Affordable | 48 | 35 | 230 |
| Other Projects | Mixed | 39 | 1 | 177 |
| Total | 172 | 65 | 780 |
Commenting on the Q1FY22 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The industry consolidation is leading to rise in the share of business for organized developers and Sunteck will be one of the biggest beneficiaries of this trend. Going forward, we expect to leverage our brand franchise and management expertise to evaluate new growth opportunities and thereby continue to increase our overall market share.
A key to our strong operational performance is being a dominant developer in each of the micro-markets and housing segments we are operating. Additionally, the focus on our core strength of sales & marketing and in-house construction capabilities will enable us to sustain this strong pre-sales and collections trend going for ward.”
About Sunteck Realty
Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development comp anies. SRL has an immaculate track record of having one of the lowest net Debt/Equity ratios, financial pru den cy and sustainable growth. The company focuses on a city centric development portfolio of about 38 million sq uare feet spread across 19 projects. Sunteck Realty has differentiated its projects under five brands – ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial & Retail developments. The company has been a trendsetter in creating iconic destinations such as the flagship project, Signature Island at Bandra Kurla Compl ex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon – the largest township of MMR’s western Suburbs.
Disclaimer
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Sunteck Realty Limited will not be in any way responsible for any action taken based on su ch statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequ ent events or circumstances.
