Sunteck Realty gains after decent Q4 biz update

Sunteck Realty rallied 2.83% to Rs 491.2 after the realtor's pre-sales jumped 36% year on year to Rs 503 crore in Q4 FY22.

Pre-sales grew 43% on a sequential basis in Q4 FY22 over Q3 FY22. On a full‐year basis, the realtor had pre‐sales of Rs 1,303 crore in FY22, up 27% YoY.

Collections stood at Rs 404 crore in Q4 FY22, rising 50% quarter on quarter and 26% year on year. On a full‐year basis, collections came at Rs 1,053 crore in FY22, rising 35% YoY

Collections efficiency for FY22 stood at 81%, up from 76% in FY21. The announcement was made before market hours today, 12 April 2022.

Sunteck Realty (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. SRL focuses on a city centric development portfolio of about 40 million square feet spread across 28 projects.

On a consolidated basis, the realty company's net profit declined 52.3% to Rs 11.11 crore on a 41% fall in net sales to Rs 128.1 crore in Q3 FY22 over Q3 FY21.

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