Sunteck Realty Limited announces financial results for Q2 & H1 FY22

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Spread the News online news,Mumbai, November 12th,2021: Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q2 & H1 FY22 financial results.

Rs cr
OperationalDataQ2FY22Q1FY22QoQ %Q2FY21YoY %H1FY22H1FY21YoY %

                                                                                                                                                         Rs cr

P&L StatementQ2FY22Q1FY22QoQ %Q2FY21YoY %H1FY22H1FY21YoY %
OPM %27%22% 20% 25%22% 
Net Profit153404%1135%188122%

Commenting on the Q2 FY22 financial results, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Aggressive sales strategy and strong brand recall has led to success across our various sub-brands and pricing spectrum, enabling us to grow our pre-sales in a strong manner. In addition, we have been focused on augmenting our construction execution across board, which has further complemented our sales momentum as well as collections growth.

Market consolidation in favor of quality and well-funded real estate companies has been an ongoing trend and Sunteck has been a key beneficiary of this trend, continuously expanding its business portfolio with attractive return opportunities. In fact, since the first wave of COVID-19 in 2020, Sunteck has been the largest acquirer of highly value-accretive projects in the MMR – a trend it sustains even today. We have added approx. 23 mn sq ft across 5 projects in Vasai, Vasind, Borivali, Kalyan and Pen. We shall bring in our best-in-class construction and development capabilities and endeavor to create a landmark development in each micro-market.

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.”