Sunteck Realty pre-sales climbs 30% YoY to ₹502 crore in June quarter

In its key operational updates for the June quarter, filed with stock exchanges on July 12, the realty firm said that its pre-sales for Q1FY25 fell nearly 26% to ₹502 crore compared to ₹678 in the quarter ended March 31, 2024. However in Q1FY25, the company’s pre-sales grew nearly 30% from ₹387 crore in the corresponding quarter of the preceding fiscal.

Sunteck Realty’s collections surged more than 15% in Q1FY25 to ₹342 crore compared to ₹296 crore in Q1FY24. Sequentially the company’s collections increased nearly 19% from ₹288 crore in Q4FY24.

Shares of Sunteck Realty have traded with an upward trend in the past one year. The stock has gained 2.31% in 5 days, 0.82% in a month and 25.82% in the past six months. Sunteck Realty’s shares have gained 69.94% in one year.

Sunteck Realty Limited (SRL) is a real estate developer. The company was founded in 2000 by Kamal Khetan. The real estate developer currently has a portfolio of about 52.5 million square feet spread across 32 projects, according to the company’s website.

Sunteck Realty’s consolidated revenue from operations for the quarter ended March 31, 2024, stood at ₹426.86 crore increasing over 773% from ₹48.87 crore in the same quarter of the preceding fiscal. The company’s revenue from operations for the full fiscal year ended March 31, 2024 stood at ₹564.84 up by 56% against ₹362.44 in FY23.

The real estate developer’s turned profitable in Q4FY24 as its Profit-After-Tax (PAT) stood at ₹101.33 crore compared to a net loss of ₹27.93 crore in the corresponding quarter of the preceding fiscal. The company’s PAT for the FY24 increased 4966% to ₹70.92 crore from ₹1.4 crore in FY23.

Sunteck Realty shares recovered from early losses to trade around 589.8 apiece, up 1.01% on the NSE at 1:30 pm.