Sunteck Realty Records 89% Jump in April-June Pre-sales
Sunteck Realty, a property developer has reported an 89% on-year jump in pre-sales of Rs 333 crore for the quarter ended in June. As per the company, its collections also rose 66% on year to Rs 285 crore during the quarter with collection efficiency at 86% The new project launches over the forthcoming quarters along with sales momentum in ongoing projects will lead to continued growth impetus in the pre-sales and cash flows of the company and thereby help grow its market share. While the ongoing consolidation in the real estate sector has accelerated following the outbreak of Covid19 pandemic. Large established and listed realty developers are gaining more market share in terms of sales and liquidity as homebuyers are relying more on developers’ execution track record and sound financial position to take the project to conclusion.
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