Sunteck Realty on Monday reported a 36 per cent year-on-year rise in its gross sales bookings at Rs 272 crore for the quarter ended September on higher housing demand.
Its gross sales bookings stood at Rs 200 crore within the year-ago interval.
In a regulatory submitting, the Mumbai-based developer knowledgeable that collections from clients rose 47 per cent to Rs 207 crore within the second quarter of this fiscal 12 months as in opposition to Rs 141 crore within the corresponding interval of the earlier 12 months.
“In the second quarter of FY2022, the company has continued its robust operational momentum achieved in the first quarter of FY2022. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency,” Sunteck mentioned.
The firm’s concentrate on execution of its current portfolio complemented by robust in-house improvement capabilities has been an enabler in sustaining the sustained development in money flows, it added.
With tasks throughout the pricing spectrum in Mumbai Metropolitan Region, the corporate mentioned it’s assured to take care of the sturdy development in pre-sales pushed by new launches in addition to ready-to-move-in stock.
In the second quarter of FY2022, the corporate introduced a joint improvement plan with Amar Dye Chem Ltd at Shahad (Kalyan).
The 50-acre challenge with a possible improvement of about 10 million sq ft is predicted to generate a high line of round Rs 9,000 crore over the subsequent 7-8 years, the corporate mentioned.
This will additional strengthen the money stream and the stability sheet of the corporate.
In the final 18 months, Sunteck mentioned it has completed 4 challenge acquisitions at Vasai, Vasind, Borivali and Shahad (Kalyan) including about 18 million sq. to its challenge portfolio.
“Going forward, the company expects to leverage its brand franchise and management expertise to continue to evaluate new growth opportunities and thereby increasing overall market share,” the submitting mentioned.
Sunteck Realty focuses on a metropolis centric improvement portfolio of about 38 million sq. ft unfold throughout 19 tasks.