Sunteck Realty Q2 Updates: Pre-sales Rise 33%, Collections Up 25%

Sunteck Realty's pre-sales registered a growth of Rs 1,026.7 crore in the first half of fiscal 2025. End Quote

(1888PressRelease) October 16, 2024 - Sunteck Realty Ltd. reported a 32.7% uptick in pre-sales in the July–September quarter, according to a provisional business update released on Monday. Total pre-sales stood at Rs 524 crore year-on-year for the quarter ended September, as compared to Rs 502 crore in the quarter ended June. In the first half of the current fiscal, pre-sales had registered a growth of Rs 1,026.7 crore, a notable 21.3% increase from Rs 782 crore that was witnessed in the previous financial year's similar period.

The real estate developer also registered collections of Rs 267 crore in the second quarter of fiscal 2025, up 24.8% on a year-on-year basis. For the first half of the financial year, collections stood at Rs 609 crore, a growth of 21.3% from the corresponding half of the preceding fiscal at Rs 502 crore. The company is expected to announce its earnings for the second quarter on Oct. 18, according to the Bloomberg data.

Q1 Updates
Sunteck Realty Ltd.'s presales rose 29.7% YoY to Rs 502 crore in the quarter-ended June, according to the provisional numbers released by the company. The collections for the quarter stood at Rs 342 crore, 18.8% higher in comparison to Rs 288 crore collected over the same period in the previous fiscal, the company said in an exchange filing.

Share Price Movement
The real estate company's share price fell as much as 1.34% intraday and closed 0.33% lower at Rs 554.40 apiece compared to a 0.66% rise in the NSE Nifty 50.

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