Published on June 30, 2021
Hyderabad/Mumbai : Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q4 and FY21 financial results.
Rs cr | |||||||
Pre-Sales | Segment | 1QFY21 | 2QFY21 | 3QFY21 | 4QFY21 | FY2020 (Full year) | FY2021 (Full year) |
BKC Projects | Luxury | – | – | – | 90 | 72 | 90 |
ODC Projects | Mid-income | 41 | 53 | 189 | 201 | 273 | 484 |
Naigaon Projects | Affordable | 48 | 32 | 62 | 75 | 763 | 217 |
Other Projects | Mixed | 12 | 115 | 99 | 5 | 113 | 231 |
Total | 101 | 200 | 349 | 371 | 1,221 | 1,022 |
Collections | Segment | 1QFY21 | 2QFY21 | 3QFY21 | 4QFY21 | FY2020 (Full year) | FY2021 (Full year) |
BKC Projects | Luxury | – | 44 | – | 51 | 100 | 95 |
ODC Projects | Mid-income | 29 | 31 | 114 | 104 | 269 | 278 |
Naigaon Projects | Affordable | 35 | 41 | 65 | 89 | 278 | 230 |
Other Projects | Mixed | 1 | 26 | 73 | 77 | 68 | 177 |
Total | 65 | 141 | 252 | 321 | 715 | 780 |
P&L | Q4FY21 | Q3FY21 | QoQ % | Q4FY20 | YoY % | FY2021 | FY2020 | YoY % |
Revenue | 191 | 217 | -12% | 87 | 120% | 614 | 560 | 10% |
EBITDA | 39 | 49 | -20% | 4 | 956% | 137 | 168 | -19% |
OPM % | 20% | 22% | 4% | 22% | 30% | |||
Net Profit | 10 | 23 | -55% | -13 | NM | 42 | 75 | -44% |
NPM % | 5% | 11% | -15% | 7% | 13% |
Cash Flow Statement | FY2021 | FY2020 |
Cash Flow – Operating Activities | 286 | -78 |
Cash Flow – Investing Activities | 14 | -18 |
Cash Flow – Financing Activities | -332 | 88 |
Net increase/decrease in Cash & Cash Equivalents (C&CE) | -32 | -8 |
C&CE at the beginning of the year | 83 | 91 |
C&CE at the end of the year | 52 | 83 |
Q4FY21 Highlights –
FY21 Highlights –
Commenting on the Q4 and FY21 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “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.
During FY21, we have achieved strong pre-sales and highest-ever collections. Our collection efficiency was strong at approx.76%. This led to generation of strong positive operating cash flows of Rs 286 cr leading to reduction in our already negligible debt by Rs 233 cr. We are amongst the top quartile of the industry in terms of our leverage levels.
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.”