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.

Powered by Capital Market – Live News

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

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Sallie R. Loera