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Sunteck Realty sales bookings jump 23% at Rs 1,602 crore in FY23

The firm's sales bookings stood at Rs 537 crore in the fourth quarter of the last financial year (Q4 FY23), up 36 per cent on QoQ basis

Real Estate, Realty sector, Construction, Realty

Pratigya Yadav New Delhi

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Sunteck Realty, a real estate firm, on Monday reported a 23 per cent year-on-year (YoY) increase in sales bookings at Rs 1,602 crore for FY23. Sales bookings in FY22 stood at Rs 1,303 crore.

The firm's sales bookings stood at Rs 537 crore in the fourth quarter of the last financial year (Q4 FY23), up 36 per cent on QoQ basis. 

The Mumbai-based developer said that its collections in Q4 FY23 reached Rs 330 crore, marking an 8 per cent quarter-on-quarter (QoQ) increase. Its FY23 collections grew 19 per cent year-on-year (YoY) to Rs 1,250 crore.

The company has signed a lease deal with Upgrad, the online educator, for its premium commercial project Sunteck at BKC Junction in Mumbai. The project is set to generate a total revenue of approximately Rs 2,000 crore over the entire lease tenure. Upgrad will be paying starting rentals of close to Rs 300 per square feet. per month on carpet area basis.

The total leased out area is approximately 2 lakh square feet on built up area basis. The gross total capital value of the project of close to 8 per cent capitalisation rate is estimated at approximately Rs. 550 crore.

"We have signed an exclusive lease deal with Upgrad for our premium commercial project Sunteck BKC51 at BKC Junction. The project is set to generate a total revenue of approx. Rs 2,000 crore over the entire lease tenure," realty firm said in a statement.

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First Published: Apr 24 2023 | 7:59 PM IST

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