Sunteck Realty Q1 PAT up by 67% at INR 589 million

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Sunteck Realty Limited, Mumbai’s premium real estate developer catering to the premium and ultra-premium segment today announced its financial results for the quarter ended June 30, 2018.

↑ PAT grows by 67%yoy during Q1FY2019

↑ Pre-sales grows by 42%yoy during Q1FY2019

↑ Collections grows by 23%yoy during Q1FY2019

Financial Highlights:

Commenting on the Q1FY2019 performance, Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Sunteck has delivered a robust financial performance during the first quarter of FY2019. The improvement in market sentiments with increased traction for our BKC and ODC, Goregaon West projects has led to strong growth in the operational performance as well. With ODC, Goregaon West, continuing to witness significant improvement in infrastructure, we believe our project Sunteck City within this zone will create significant value for its stakeholders, just like our ultra-luxury residences have done in BKC.

In the forthcoming quarter, Sunteck will capitalize on its brand and realize its objective of being present across the pricing spectrum in the residential segment, by launching the first phase of aspirational luxury project at Naigaon under the asset light JDA model. This project will be a major breakthrough for homebuyers as it will provide the experience of luxury in aspirational homes segment with a new brand under a completely new division. This project will further augment the sales potential of the company. Our prudent financial management philosophy and balance sheet strength gives us an edge to look at distressed opportunities within MMR and create significant value for the stakeholders going forward. We are motivated to grow and excited about the times ahead. We believe India’s real estate sector will throw-up unique growth opportunities thereby allowing us to scale up our business while maintaining attractive and sustainable RoEs.”

About Sunteck Realty

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 Rs5,900cr.

SRL focuses on a city-centric development portfolio of about 30 million square feet spread across 25 projects.

Sunteck Realty has four brand portfolio:

1) ‘Signature’: Uber luxury residences aimed at ultra HNIs

2) ‘Signia’: Super Premium residences in select suburban micro markets

3) ‘Sunteck City’: Large formats and mixed use developments

4) ‘Sunteck’: Commercial developments