Sunteck pre-sales grow 55 pc Q-o-Q

Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q2 FY22 financial results on October 11.

A press release said, in the second quarter of FY2022 the company continued its robust operational momentum achieved in the first quarter. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency, it said.

The pre-sales of the company grew by 55 per cent Q-o-Q and 36 per cent Y-oY to Rs 272 crore. Collections grew by 20 pc Q-o-Q qoq and 47 per cent Y-oY to Rs 207 crore, according to the release.

The company’s focus on execution of its existing portfolio complemented by strong in-house development capabilities has been an enabler in maintaining the sustained growth in cash flows, said the release further.

With projects across the pricing spectrum in MMR, the company is confident to maintain the sturdy growth in pre-sales driven by new launches as well as ready-to-move-in inventory, it added.