Sunteck Realty Limited announces Q4 &FY20 and Q1 FY21 results

Sunteck Realty Limited, Mumbai's premium real estate developer, announced its results today for the first quarter of FY21 and fourth quarter of FY20 along with full year, FY20.

HIGHLIGHTS of Consolidated Financials for Q4FY20

- Pre-sales (new bookings) stood at Rs.608.0 crores for Q4FY20 as against Rs.289.0 crores for Q4FY19
- Collections stood at Rs.175.0 crores for Q4FY20 as against Rs.206.5 crores for Q4FY19
- Revenue for Q4FY20 stood at Rs.91.6 crores as against Rs.269.7crores for Q4FY19
- Profit After Tax (PAT) for Q4FY20 stood at Rs.1.0 crore as against Rs.63.4crores for Q4FY19

HIGHLIGHTS of Consolidated Financials for FY20

- Pre-sales (new bookings) stood at Rs.1,220.8 crores for FY20 as against Rs.1,202.3 crores for FY19
- Collections stood at Rs.715.1 crores for FY20 as against Rs.660.9 crores for FY19
- Revenue for FY20 stood at Rs.607.8 crores as against Rs.856.8 crores for FY19
- Profit After Tax (PAT) for FY20 stood at Rs.101.1 crores as against Rs.241.1 crores for FY19

HIGHLIGHTS of Consolidated Financial results for Q1FY21

- Pre-sales (new bookings) stood at Rs.101.2 crores for Q1FY21 as against Rs.185.8 crores for Q1FY20
- Collections stood at Rs.65.1 crores for Q1FY21 as against Rs.189.2 crores for Q1FY20
- Revenue for Q1FY21 stood at Rs.60.7 crores as against Rs.178.2 crores for Q1FY20
- Profit After Tax (PAT) for Q1FY21 stood at Rs.3.1 crores as against Rs.36.3 crores for Q1FY20

Commenting on the Q4FY20 and Q1FY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: "The quarter gone by has been the most unprecedented and challenging one so far. However, despite the impact of COVID-19 and the subsequent economic slowdown, we have successfully maintained our sales momentum; project execution is steadily returning to pre-COVID levels and business development activity has picked up pace. With our highest ever pre-sales in a financial year and resumption of execution, we remain confident of booking stronger revenues and profit margins in the current financial year."

During the lockdown, Sunteck Realty launched its online digital sales platform, "SunteckAER" which received a very favourable response and as a result, the company achieved significant new bookings, especially in the ready-to-move in category.

On the execution front, post the Government approval and relaxations, work has resumed at all its construction sites. Since, Sunteck had retained workers on site, construction activity could be restarted immediately.

"Post-COVID, we are already witnessing strong consolidation across the industry. Given our balance sheet strength and established track record, we are well positioned to be one of the biggest beneficiaries. We intend to capitalize on the opportunity at hand, setting the stage for further sustainable growth and attractive ROEs - our recent acquisition of Vasai is a step in this direction." said Mr. Khetan.

Within the business development space, in line with its research-based and value-accretive approach, Sunteck Realty acquired a prime residential project of almost 50 acres, under the asset light strategy, in the prominent western suburb of Vasai (West). The project will largely cater to the mid-income segment with a focus on offering well designed homes with unobstructed sea views. In view of the ongoing COVID-19 pandemic, the Company hopes to cater to the emerging customer needs: residential premises that not only offer a luxurious lifestyle, but also ensures a comfortable 'Work from Home' environment.

Shares of SUNTECK REALTY LTD. was last trading in BSE at Rs.173.9 as compared to the previous close of Rs. 178.5. The total number of shares traded during the day was 63600 in over 942 trades.

The stock hit an intraday high of Rs. 181.5 and intraday low of 170.95. The net turnover during the day was Rs. 11306080.

Source : Equity Bulls

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