Sunteck Realty included in NSE Indices

NSE Indices Limited (formerly known as India Index Services & Products Ltd. – IISL), a subsidiary of NSE, provides a variety of indices and index related services for the capital markets.

The scrip of Sunteck Realty Limited, Mumbai’s premium real estate developer catering to the premium and ultra-premium segment has been included in the prestigious NSE indices, the largest index and index service provider, effective September 28, 2018. The NSE today made the announcement following replacement of stocks in various indices as part of its periodic review.

NSE Indices Limited (formerly known as India Index Services & Products Ltd. – IISL), a subsidiary of NSE, provides a variety of indices and index related services for the capital markets. The company focuses on the index as a core product. The company owns and manages a portfolio of indices under the NIFTY brand of NSE, including the flagship index, the NIFTY 50.

Sunteck Realty Limited (SRL) is the fastest growing Mumbai-based real estate development company, catering to the Uber premium, premium, ultra-luxury and luxury residential segment. The company has delivered residential and commercial developments totaling Rs 5,900cr.

A report published by Arihant Capital mentions, “Along with strong visibility, and future cash flows from its ongoing and completed projects, the company is expected to cumulatively generate net cash flows of Rs 53.9bn. The company has been showing an increased traction in its new bookings and has reported 79% qoq growth in its new bookings for Q4FY18 at Rs 1.9bn. The company is also expected to perform at its best in the days to come. Going forward, SRL’s robust sales momentum coupled with strong execution of its ongoing projects would help the company to ramp up its earnings over the next few years. SRL is expected to report 13.1% CAGR in its earnings over FY18-20E with stable EBITDA margin of 38-40%.”

“Going forward SRL will be identifying emerging locations on the western suburbs of MMR, which are entitled for SOPs of affordable housing by keeping the unit size right. SRL is banking on increased volumes and faster turnaround for these types of projects to drive profitability, with an aim of value positioning with realisations around Rs 5,000/sq ft. For the large sized projects in affordable segment (like Naigaon) SRL plans to do acquisition under the asset-light JV/JDA model to mitigate risk” the report states.