Sunteck Realty Q4 Pre?Sales Grew By ~26% YoY

Real estate developer Sunteck Realty Ltd (April 16) announced its business update, showcasing growth in pre-sales for the fourth quarter and fiscal year 2023-24.

The company reported a 26% year-on-year (YoY) increase in Q4 pre-sales, amounting to Rs 678 crore. For the entire fiscal 2023-24 (FY24), Sunteck Realty's pre-sales reached Rs 1,915 crore, marking a 20% YoY growth.

Collections for Q4 of FY24 stood at Rs 296 crore, reflecting a 10.3% decline compared to the same period last year. Sunteck Realty's full-year collections for FY24 remained at  Rs 1,236 crore.

The company currently boasts seven large projects in the Mumbai Metropolitan Region (MMR), with a gross development value (GDV) of approximately Rs 30,000 crore.

The company said its “annuity income portfolio” has expanded with two "marquee leased assets at BKC Junction."

Shares of Sunteck Realty Ltd ended at Rs 428.25, down by Rs 1.30, or 0.30%, on the BSE.