Sunteck Realty sales bookings rise marginally to Rs 352 cr in Dec quarter

Mumbai-based Sunteck Realty on Monday reported a marginal increase in its sales bookings to Rs 352 crore for the quarter ended December 2021.

Its sales bookings stood at Rs 349 crore in the year-ago period, according to a regulatory filing.

During April-December period of the current fiscal, the company's sales bookings grew by 23 per cent to Rs 800 crore from Rs 651 crore in the corresponding period of the previous year.

The company said that in the last 18 months, it has acquired around 23 million square feet of development potential across five projects at Vasai West, Vasind, Borivali West, Kalyan (Shahad) and Pen-Khopoli, totalling to an "estimated Gross Development Value (GDV) of Rs ~20,000 crores."

In the forthcoming quarters, Sunteck has a slew of project launches lined-up both in the premium and aspirational residential segments.

"These launches will lead to continued growth momentum in the pre-sales of the company and thereby, grow our market share," it added.

Last week, Macrotech Developers reported a 40 per cent increase in its sales bookings to Rs 2,608 crore during the third quarter of this fiscal from Rs 1,862 crore in the year-ago period.

Mumbai-based Oberoi Realty has reported over two-fold jump in its sales bookings at Rs 1,965 crore for the third quarter ended December.

Housing sales were strong during the October-December quarter on pent up and festive demand. Historical low interest rate on home loans is one of the key drivers for the increased demand.