Sunteck Realty Ltd reported a 29.7% increase in pre-sales for Q1 FY25, reaching INR 502 crore compared to INR 387 crore in Q1 FY24. Collections rose by 18.8% to INR 342 crore from INR 288 crore year-on-year. The company saw a 25.95% decline in pre-sales from INR 678 crore in Q4 FY24. For FY24, pre-sales were INR 1,915 crore, and collections totaled INR 1,236 crore. Sunteck Realty, active in the Mumbai Metropolitan Region and Tier-II cities, reported a Q4 FY24 net profit of INR 101 crore, reversing a INR 28 crore loss in Q4 FY23.
Sunteck Realty Ltd has reported a substantial 29.7% increase in pre-sales for the quarter ending June 2024. The company's pre-sales amounted to INR 502 crore in Q1 FY25, up from INR 387 crore in Q1 FY24. This information was disclosed in a regulatory filing where Sunteck Realty highlighted its performance improvements.
The company also noted a significant rise in collections, which reached INR 342 crore in Q1 FY25, marking an 18.8% increase from INR 288 crore in the same quarter the previous year. Over the entire FY24, Sunteck Realty's pre-sales totaled INR 1,915 crore, with collections of INR 1,236 crore.
While the year-on-year growth is notable, the company's pre-sales saw a quarter-on-quarter decline of 25.95% from INR 678 crore in Q4 FY24. However, collections for Q1 FY25 improved by 18.75% year-on-year and 15.54% quarter-on-quarter, reflecting strong financial health and operational efficiency.
Sunteck Realty, engaged in the development of both residential and commercial properties, primarily operates in the Mumbai Metropolitan Region. It also has projects in Tier-II cities such as Jaipur, Nagpur, and Goa. The company's diverse portfolio and strategic location choices have contributed to its robust performance.
The financial results for Q4 FY24 were also impressive. Sunteck Realty reported a net profit of INR 101 crore, a significant turnaround from a net loss of INR 28 crore in Q4 FY23. Revenue for the same quarter surged to INR 427 crore, up from INR 49 crore in Q4 March 2023. This remarkable improvement underscores the company's effective management and growth strategies.
Sunteck Realty's performance in Q1 FY25, characterized by strong pre-sales and collection figures, highlights the company's resilience and capacity for sustainable growth. The positive financial results and strategic expansion into key markets position Sunteck Realty well for continued success in the real estate sector.
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