Sunteck Realty Limited announces Q3 & 9M FY21results

·            Pre-sales grew by 75% q-o-q to Rs.349 crores, Collections grow 79% q-o-q to Rs.252 crores

·            Revenue up by 43% q-o-q, EBITDA up by 44% q-o-q

·            Reduction of debt driven by strong operating cash flows of Rs.53 crores

·            High buyer interest witnessed in both completed and newly launched projects

Kolkata, February 15, 2021: Sunteck Realty Limited, Mumbai’s premium real estate developer, announced its results today for the third quarter and nine-months ended FY21.

								Rs cr
Operational Data	Q3FY21	Q2FY21	QoQ %	Q3FY20	YoY %	9MFY21	9MFY20	YoY %
Pre-sales (new bookings)	349	200	75%	325	7%	650	613	6%
Collections	252	141	79%	166	52%	458	540	(15%)

								Rs cr
P&L Statement	Q3FY21	Q2FY21	QoQ %	Q3FY20	YoY %	9MFY21	9MFY20	YoY %
Revenue from Operations	205	143	43%	171	20%	401	477	(16%)
EBITDA	45	31	44%	49	(9%)	89	159	(44%)
Operating Margin	22%	22%		29%		22%	33%
Net Profit	22	14	59%	25	(12%)	33	86	(62%)
Net Profit Margin	11%	10%		15%		8%	18%

Commenting on the Q3FY21 and 9MFY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Our superior product offering across the pricing spectrum, solid execution and strong customer focus has enabled us to create a resilient brand franchise in the overall market.  The same is also visible in our pre-sales and collections momentum which has been growing at a strong pace sequentially as well as pre-sales surpassing last financial year figures in the first nine months.   

Our continued focus on prudent cash flow management has enabled us to generate strong operating cash flows which has aided in the further reduction of our already negligible debt. We intend to maintain this discipline going forward and focus on financial flexibility to grow our business.

The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. We believe, home buyers will continue to look for credible projects of reputed and financially strong real estate developers, as the pedigree of a trusted brand drives the preference for a new home buyer.

With a strong uptick on sales front across our portfolio of projects, especially in the mid-income and aspirational segments, we remain confident of emerging as one of the biggest beneficiaries of the ongoing consolidation in the industry basis our balance sheet strength, established track record and operational cash flow visibility. ” 

About Sunteck Realty

Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development companies. SRL has an immaculate track record of having one of the lowest net Debt/Equity ratios, financial prudency and sustainable growth. The company focuses on a city centric development portfolio of about 38 million square feet spread across 27 projects. Sunteck Realty has differentiated its projects under five brands - ‘Signature’: Uber luxury residences, ‘Signia’: Ultra luxury residences, ‘Sunteck City’: Premium luxury residences, ‘Sunteck World’: Aspirational luxury residences, ‘Sunteck’: Commercial & Retail developments. The company has been a trendsetter in creating iconic destinations such as the flagship project, Signature Island at Bandra Kurla Complex (BKC), Sunteck City in Oshiwara District Centre (ODC), Goregaon and SunteckWorld at Naigaon - the largest township of MMR’s western Suburbs.