Sunteck Realty Shares Soar on Strong Q2

15 Oct 2024 , 12:28 PM

Sunteck Realty shares rose nearly 9% to Rs 602.3 on Tuesday in BSE trading after the real estate firm reported a strong performance for Q2 FY25, with pre-sales reaching Rs 520 crore, a 33% year-on-year (YoY) increase driven by sustained demand in the Mumbai Metropolitan Region.

The company’s collections for the quarter increased by 25% year on year to Rs 270 crore. Sunteck Realty has added seven projects (Vasai, Vasind, Borivali, Kalyan, Pen-Khopoli, Mira Road, and Dubai) totalling ~26.5msf, using an asset-light approach.

Pre-sales increased by 21.3% to Rs 1,026.7 crore in the first half of the current fiscal year, up from Rs 782 crore in the same period last year.

Sunteck Realty also collected Rs 267 crore in the second quarter of fiscal 2025, up 24.8% year on year. Collections for the first half of the fiscal year totalled Rs 609 crore, a 21.3% increase over the same period the previous year, when they were Rs 502 crore.

Sunteck Realty Limited (SRL) is one of India’s largest luxury real estate developers. Founded in 2000 by Mr. Kamal Khetan, the company currently has a portfolio of around 52.5 million square feet distributed across 32 projects.

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