Sunteck Realty Ltd.’s Key Operational Updates for Q4 & FY2022-23
Sunteck Realty issues disclosure pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Regulations). Some of the key operational updates for Q4 & FY2022-23 are the pre-sales of ~Rs 537 crores in Q4 FY23 is up 36% on QoQ basis. The FY23 pre-sales stood at ~Rs 1,602 crores, a growth of 23% on a YoY basis. The company had collections of ~ Rs 330 crores in Q4 FY23, up 8% on QoQ basis and the FY23, collections stood at ~Rs 1,250 crores registering a growth of 19% on YoY basis. Additionally, collections efficiency for FY23 stood at 78%. The company has signed an exclusive lease deal with Upgrad for premium commercial project Sunteck BKC51 at BKC Junction. The project is set to generate a total revenue of approx. Rs 2000 crores over the entire lease tenure. Upgrad will be paying starting rentals of close to Rs 300 per sq ft. per month on carpet area basis. The total leased out area is approx. 2 lakh sq. ft. on built up area basis. The gross total capital value of the project on ~8% capitalisation rate is estimated at approx. Rs. 550 Crs. We have been recently awarded three ISO certifications, namely ISO 9001:2015 for the quality management system, ISO 14001:2015 for the environmental management system, and ISO 45001:2018 for occupational health and safety management system. It emphasizes its commitment to continuous advancements in all processes, policies and communications leading to sustainable growth.
Tags : Sunteck Realty company deal Upgrad commercial project