Sunteck Realty pre-sales jump 89% YoY in Q1

The realtor said that its pre-sales jumped 89% to Rs 333 crore in Q1 30 June 2022 over Q1 June 2021.

Pre-sales declined 33.8% last quarter from Rs 503 crore recorded in Q4 FY22.

Collections stood at Rs 285 crore in Q1 FY23, fell 29.45% quarter-on-quarter, but jumped 66% year on year.

The new project launches over the forthcoming quarters along with sales momentum in ongoing projects, shall lead to continued growth impetus in the pre-sales and cash flows of the company and thereby grow its market share, the company said.

Sunteck Realty (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. On a consolidated basis, the realty company reported net loss of Rs 4.31 crore as against a net profit of Rs 10.41 crore in Q4 FY22 over Q4 FY21. Net sales declined 18.6% year on year to Rs 155.99 crore during the period under review.

 

Shares of Sunteck Realty were down 0.75% to Rs 503.45 on the BSE.

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