Sunteck Realty gains after recording pre-sales of Rs 396 crore in Q3

Sunteck Realty advanced 2.37% to Rs 376.50 after the company recorded 12% YoY increase in pre-sales to Rs 396 crore in Q3 FY23.

Pre-sales in the same period last year were Rs 352 crore. The company's 9M FY23 pre-sales stood at Rs 1,066 crore, a growth of 33% on a YoY basis.

Collections increased by 13% to Rs 304 crore in Q3 FY23 from Rs 270 crore in Q3 FY22. Collections for 9M FY23 stood at Rs 920 crore, registering a growth of 42% on YoY basis.

Additionally, collections efficiency for 9M FY23 stood at 86% against 81% in 9M FY22.

Sunteck Realty (SRL) is engaged in the development of residential and commercial properties. SRL's developmental activities are mainly spread out in the Mumbai Metropolitan Region, along with some development in Tier-II cities such as Jaipur, Nagpur and Goa through completed or forthcoming projects. Till date, SRL has delivered over five million sq-ft (msf) and has ongoing development portfolio of over 7 msf.

The company's consolidated net profit declined 84.73% to Rs 2.33 crore on a 41.06% fall in sales to Rs 80.75 crore in Q2 FY23 over Q2 FY22.

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