I sincerely hope that your families and you are safe and doing well.This Fiscal year 2020 the government announced a slew of measures for the real estatesector. These measures like the stimulus for the NBFCs and incentives for the affordableand middle-income housing projects have helped the sector to evolve but at the same timeled to consolidation in the Indian real estate sector resulting in increasedaccountability customer centricity and financial prudency.
With every subsequent challenge be it Demonetization GST RERANBFC crisis and now COVID-19 Sunteck has only emerged stronger each time. AtSunteck Realty Limited we have an eye to capture and deliver the best in the real estateindustry. Beyond the Better' depicts our motive to evolve as India's mostpremium and trusted brand with high standards of ethical business practices corporategovernance and product quality. Despite one of the most challenging decades for Indianreal estate we have consistently grown supported by our differentiated business model aswell as our in-sourced execution capabilities. While acquisitions under the asset lightstrategy ensures optimal leverage and minimal stress on our balance sheet our in-houseconstruction capabilities ensure stringent cost checks quality control and timelydelivery of our projects. Prudent cash flow management has ensured operational efficiencyacross organization levels. Today Indian real estate is undergoing another wave ofconsolidation as financially weak players find it increasingly difficult to adhere tocompliance norms. We intend to capitalize on these lucrative opportunities in the form offavourable JDAs and attractive land parcels at reasonable prices. We continue to be agileas we look to increase our market share. I would like to share that your company hassuccessfully added new projects under its asset light strategy in prime locations. Wecontinue to focus on MMR city centric locations and to aggressively pursue neweropportunities setting the stage for further sustainable growth and attractive ROEs.
With the ongoing COVID-19 pandemic your company is well-positioned tonot only withstand any potential downturn impact but also identify new opportunities forgrowth. While uncertainty in businesses and employment could lead to near headwindsinterest rates for housing are extremely low and affordability is attractive. The impacton residential segment should be limited as the importance of having a comfortable workfrom home environment is on the rise. In fact we are observing increased traction inready or near ready inventory. Further we are now focused on increasing our digitalpresence via our online platform SunteckAER so as to offer a seamless omnichannelexperience for our customers. This year both our launches 4th Avenue atSunteckCity ODC and Sunteck MaxxWorld at Naigaon met with overwhelming success.Sunteck MaxxWorld's launch in January 2020 outperformed the high benchmark set bySunteck WestWorld. Despite a tough macroeconomic environment I am pleased to inform youthat we were able to achieve our highest ever pre-sales in a financial year at
Rs. 1221 cr. While we are currently present across the pricingspectrum we anticipate our brands
- SunteckCity (large mixed use development between Rs. 1 & Rs. 5cr) and SunteckWorld (aspirational luxury between Rs. 25L and Rs. 1 cr) will garnerfurther traction in near to medium term. Collections for the year improved by 8% partlymoderated due to the pandemic impact towards the fourth quarter.
While we ended the year gone on a strong note the current year willpresent its own challenges and opportunities. While we invest in our systems and processesto integrate industry best practices we will ensure that our prudent cash flow managementand operational efficiencies further builds our agility to emerge stronger from hereon. Wehave continuously challenged our limits and pushed ourselves to create landmark projectsacross our brand portfolio. Our ability to foresee opportunities across market segmentshas allowed us to strategically scale-up our business and create strong and enduring valuefor all our stakeholders. I thank you all and the entire Sunteck family ouremployees customers and partners for your continued trust and support.
Chairman and Managing Director