Sunteck Realty logs highest-ever collections in Q4 with 27% sequential growth
Realty developer Sunteck Realty has recorded its highest-ever collections and robust pre-sales during the quarter ended March at Rs 321 crore and Rs 371 crore, respectively led by the mid-income and ready-to-move-in segment.
The developer’s pre-sales grew 6% sequentially, while collections have risen 27% during the quarter.
Sunteck has also registered the highest-ever pre-sales in the mid-income segment driven by residential projects at ODC, Goregaon West, a year-on-year growth of 77%. Strong pre-sales were witnessed in the ready to move in projects across segments.
The developer has recorded the highest-ever collections in a financial year in 2020-21 at Rs 780 crore.
Suntek is one of the biggest beneficiaries of the ongoing consolidation in the real estate sector as it has already resulted in the acquisition of three new projects by the developer in the Mumbai Metropolitan Region (MMR).
Going forward, the realty developer expects to leverage its brand and management expertise to continue to evaluate new growth opportunities and increase market share.
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