Sunteck Q1 pre-sales grow 74 pc at Rs 176 cr

Sunteck Realty announced its Q1 FY22 operational updates on July 12. While pre-sales of Mumbai’s luxury real estate developer grew by 74 per cent yoy to Rs 176 crore, collections grew by 165 pc to Rs 172 crore in the quarter.

According to a press release, collection efficiency stood strong at 98 pc of pre-sales in Q1 FY22 against 64 pc in Q1 FY21

Commenting on the performance, Kamal Khetan, CMD, Sunteck Realty Ltd, said: “In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The industry consolidation is leading to rise in the share of business for organised developers and Sunteck will be one of the biggest beneficiaries of this trend. Going forward, we expect to leverage our brand franchise and management expertise to evaluate new growth opportunities and thereby continue to increase our overall market share.