Sunteck Realty Limited announces Operational Update for Q1FY22

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Mumbai : Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q1 FY22 operational updates. The company has reported 74% Y-O-Y growth in pre-sales to Rs 176 crore. Collections have grown by 165% Y-O-Y in Q1 FY22 to Rs 172 crore. The company’s collection efficiency improved to 98% of pre-sales during the quarter as against 64% a year ago.

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 forward.”

-Odisha Age