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Business EconomyPosted at: Oct 7 2020 5:28PM


Sunteck Realty Limited announces its Q2 FY20-21 operational updates

Kolkata, Oct 07 (UNI) Sunteck Realty Limited (SRL), Mumbai’s premium real estate developer,
has announced its Q2 FY20-21 operational updates, witnessing a substantial growth in Pre-sales
for Q2 FY21 at Rs 200 crore, which was up by 98% Q-o-Q and by 96% Y-o-Y as well.
Collections also grew at 117% Q-o-Q to Rs 141 crore for FY21;
Following the resumption of operations post the lockdown in Mumbai, the Company has
continued its strong sales momentum, supported by its digital platform, SunteckAer as well
as various other marketing initiatives for the ready-to-move-in and nearing-ready inventory.
With the construction activity inching towards pre-COVID levels, the Company remains
focused on accelerating the progress across the portfolio to offset the time lost on account
of the ongoing pandemic.
Commenting on the same, Kamal Khetan, Chairman and Managing Director, Sunteck Realty
Ltd, said, “Certainly, the momentum has picked up. A combination of favorable factors such
as the reduced stamp duty and low interest rates is expediting the decision time cycle for
prospective customers. We are observing a trend of enhanced interest and increased demand
for some of our ready-to-move-in projects such as Signia High, Borivali, and 1st Avenue,
Sunteck City, Oshiwara District Centre, Goregaon (W). By and large, there is a renewed interest
for high quality products offered by large organized developers, especially those with strong
balance sheet and high brand recall.”
“While our strong pre-sales in FY2020 would ensure higher collections in FY21, now, with the
home loans getting disbursed again, we are confident that our collections will grow much
stronger from here on,” he added.
UNI XC BM
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