Sunteck Realty presales jump 89% YoY in Q1



The real estate agent said its presales jumped 89% to Rs 333 crore in the first quarter June 30, 2022 compared to June 1, 2021.

Presales fell by 33.8% last quarter from Rs 503 crore recorded in Q4 FY22.

Collections stood at Rs 285 crore in the first quarter of FY23, fell by 29.45% quarter-on-quarter, but surged by 66% year-on-year.

The new project launched in the coming quarters, as well as the sales momentum in the ongoing projects, will lead to continued growth momentum in the company’s presales and cash flow and thus increase its market share, said the society.

Sunteck Realty (SRL) is one of the fastest growing luxury real estate development companies based in Mumbai. On a consolidated basis, the property company reported a net loss of Rs 4.31 crore against a net profit of Rs 10.41 crore in Q4 FY22 compared to Q4 FY21. Net sales declined by 18.6% year-on-year to Rs 155.99 crore during the period under review.

Shares of Sunteck Realty fell 0.75% to Rs 503.45 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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