Sunteck Realty Limited has announced key operational updates for Q2 FY23:
Pre-Sales: We had pre-sales of ~Rs 337 crores in Q2 FY23, up 24% on YoY basis. Our H1 FY23 pre-sales stood at ~Rs 670 crores, a growth of 49% on a YoY basis.
Collections: We had collections of ~ Rs 331 crores in Q2 FY23, up 60% on YoY basis. For the first half of FY23, collections stood at ~Rs 616 crores registering a growth of 63% on YoY basis.
Additionally, collections efficiency for H1 FY23 stood at 92%.
Business Development: The Company acquired a posh land parcel of ~7.25acres at Beverly Park, Mira Road under the JDA model. The project is estimated to have development potential of approx 2.5mn sq.ft built up area with a revenue potential of around Rs 3,000 crore. Post pandemic, we have done multiple acquisitions to the tune of 25.5 mn sq.ft i.e. Borivali West, Vasai West, Shahad-Kalyan, Vasind, Pen-Khopoli and now, Beverly Park, Mira Road.
ESG: We have been felicitated with EDGE Green Building Pre Certification for our 4 residential projects namely, Sunteck Beach Residences (SBR), Vasai; 4th Avenue Sunteck City, ODC, Goregaon (W); Sunteck Maxxworld and Sunteck Oneworld at Naigaon by EDGE-IFC (World Bank Group) for our endeavor towards ensuring that the company's projects are designed sustainably as next generation buildings, keeping the environment's wellbeing at the center of its mission. We at Sunteck Realty are taking systematic steps towards prioritizing sustainability as part of our culture.
Credit Rating: In a recent rating review by CARE Ratings of Sunteck Realty Limited's long-term and short-term loan facilities, we have achieved a long-term rating of "CARE AA-/Positive" and short-term rating of "A1+". The ratings favorably factors in healthy booking status at an intermediate stage of execution in the overall project portfolio, leading to the build-up of sizeable committed receivables thereby rendering robust cash flow visibility and further draws comfort from strong financial risk profile of the company characterized with low reliance on debt for the development of projects.
Shares of Sunteck Realty Limited was last trading in BSE at Rs. 397.00 as compared to the previous close of Rs. 393.15. The total number of shares traded during the day was 17919 in over 988 trades.
The stock hit an intraday high of Rs. 402.50 and intraday low of 394.00. The net turnover during the day was Rs. 7132150.00.