Sunteck Realty sees growth in pre-sales

Sunteck Realty Limited (SRL), Mumbai’s premium real estate developer, announced its Q2 FY20-21 operational updates on October 7.

According to a press release, SRL saw a substantial growth in pre-sales for Q2 FY21 at Rs 200 crore; it was up by 98 pc Q-o-Q and by 96 pc Y-o-Y as well. Collections also grew at 117 per cent Q-o-Q to Rs 141 crore for FY21;

Following the resumption of operations post-lockdown in Mumbai, the company has continued its strong sales momentum, supported by its digital platform, SunteckAer, as well as various other marketing initiatives for the ready-to-move-in and nearing-ready inventory, said the release.

With the construction activity inching towards pre-COVID levels, the company remains focused on accelerating the progress across the portfolio to offset the time lost on account of the ongoing pandemic, it added.

Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd, said, “Certainly, the momentum has picked up. A combination of favourable factors such as the reduced stamp duty and low interest rates is expediting the decision time cycle for prospective customers. We are observing a trend of enhanced interest and increased demand for some of our ready-to-move-in projects.”