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Sunteck Realty Limited announces Operational Update for Q1FY22

~Records 74% Y-O-Y rise in April-June bookings at Rs 176 crore~

Goa: 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-SalesSegmentQ1 FY22Q1 FY21FY2021

(Full Year)

BKC ProjectsLuxury90
ODC ProjectsMid-income7641484
Naigaon ProjectsAffordable6548217
Other ProjectsMixed3512231
Total  1761011,022
Rs cr
CollectionsSegmentQ1 FY22 Q1 FY21FY2021

(Full Year)

BKC ProjectsLuxury2695
ODC ProjectsMid-income5929278
Naigaon ProjectsAffordable4835230
Other ProjectsMixed391177
Total 17265780

 

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.”

 

 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 such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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