Mumbai : Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q1 FY22 operational updates. The company has reported 74% Y-O-Y growth in pre-sales to Rs 176 crore. Collections have grown by 165% Y-O-Y in Q1 FY22 to Rs 172 crore. The company’s collection efficiency improved to 98% of pre-sales during the quarter as against 64% a year ago.
| Rs cr | ||||
| Pre-Sales | Segment | Q1 FY22 | Q1 FY21 | FY2021
(Full Year) |
| BKC Projects | Luxury | – | – | 90 |
| ODC Projects | Mid-income | 76 | 41 | 484 |
| Naigaon Projects | Affordable | 65 | 48 | 217 |
| Other Projects | Mixed | 35 | 12 | 231 |
| Total | 176 | 101 | 1,022 | |
| Rs cr | ||||
| Collections | Segment | Q1 FY22 | Q1 FY21 | FY2021
(Full Year) |
| BKC Projects | Luxury | 26 | – | 95 |
| ODC Projects | Mid-income | 59 | 29 | 278 |
| Naigaon Projects | Affordable | 48 | 35 | 230 |
| Other Projects | Mixed | 39 | 1 | 177 |
| Total | 172 | 65 | 780 |
Commenting on the Q1FY22 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The industry consolidation is leading to rise in the share of business for organized developers and Sunteck will be one of the biggest beneficiaries of this trend. 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.
A key to our strong operational performance is being a dominant developer in each of the micro-markets and housing segments we are operating. Additionally, the focus on our core strength of sales & marketing and in-house construction capabilities will enable us to sustain this strong pre-sales and collections trend going forward.”
-Odisha Age
