APN News

  • Friday, September, 2021| Today's Market | Current Time: 12:59:34
    • Pre-sales grows by 74% yoy to Rs 176 cr
    • Collections grows by 165% yoy to Rs 172 cr
    • Revenue grows by 69% yoy to Rs 93 cr
    • EBITDA grows by 32% yoy to Rs 21 cr
    • Gross operating surplus cash flow of Rs 32 cr generated during the quarter leading to sustained low net debt/equity

    Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q1 FY22 financial results.

             Rs cr
    Operational DataQ1 FY22Q1 FY21YoY %Q4 FY21FY 2021
     Rs cr
    P&L StatementQ1 FY22Q1 FY21YoY %Q4 FY21FY 2021
    OPM %22%28% 18%22%
    Net Profit3-3NM1042

    Commenting on the Q1 FY22 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “In this transformational environment, we remain focused on execution of our existing portfolio – reflected in construction and collection progress of our various projects. We continue to maintain our balance sheet strength, complimented by prudent cash flow management.

    Presently, we are witnessing strong consolidation across the industry and we will be one of the biggest beneficiaries of this trend. The industry consolidation has already resulted in 3 new project acquisitions for us at Vasai, Vasind and Borivali in MMR. Going forward, we expect to leverage our brand franchise and management expertise to continue to evaluate new growth opportunities and thereby increasing 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.”