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Sunteck Realty Limited announces financial results for Q2 & H1 FY22

Sunteck Realty Limited announces financial results for Q2 & H1 FY22 1

Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q2 & H1 FY22 financial results.

Rs cr
OperationalDataQ2FY22Q1FY22QoQ %Q2FY21YoY %H1FY22H1FY21YoY %
Pre-sales27217654%20036%44830248%
Collections20717220%14147%38020684%

 Rs cr

P&L StatementQ2FY22Q1FY22QoQ %Q2FY21YoY %H1FY22H1FY21YoY %
Revenue1369347%147-7%22920213%
EBITDA362177%3024%574527%
OPM %27%22% 20% 25%22% 
Net Profit153404%1135%188122%

Commenting on the Q2 FY22 financial results, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Aggressive sales strategy and strong brand recall has led to success across our various sub-brands and pricing spectrum, enabling us to grow our pre-sales in a strong manner. In addition, we have been focused on augmenting our construction execution across board, which has further complemented our sales momentum as well as collections growth.

Market consolidation in favor of quality and well-funded real estate companies has been an ongoing trend and Sunteck has been a key beneficiary of this trend, continuously expanding its business portfolio with attractive return opportunities. In fact, since the first wave of COVID-19 in 2020, Sunteck has been the largest acquirer of highly value-accretive projects in the MMR – a trend it sustains even today. We have added approx. 23 mn sq ft across 5 projects in Vasai, Vasind, Borivali, Kalyan and Pen. We shall bring in our best-in-class construction and development capabilities and endeavor to create a landmark development in each micro-market.

Going forward, we expect to leverage our brand franchise and management expertise to evaluate new growth opportunities and thereby continue to increase our overall market share.”

About Sunteck Realty

Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. SRL has an immaculate track record of having one of the lowest net Debt/Equity ratios, financial prudency and sustainable growth. The company focuses on a city centric development portfolio of about 38 million square feet spread across 19 projects. Sunteck Realty has differentiated its projects under five brands – ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial & Retail developments. The company has been a trendsetter in creating iconic destinations such as the flagship project, Signature Island at Bandra Kurla Complex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon – the largest township of MMR’s western Suburbs.

Disclaimer

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Sunteck Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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