Sunteck Realty Reports 33% Year-on-Year Growth in Pre-Sales for Q2 2024
Real estate developer Sunteck Realty has reported a 33% year-on-year increase in pre-sales, reaching Rs 524 crore for the quarter ended September 2023. The company also recorded a 25% rise in collections to Rs 267 crore.
Sunteck RealtyReal EstatePresalesGrowthMumbaiReal EstateOct 14, 2024
The quarterly performance has significantly bolstered the pre-sales numbers for the first half of the 2024-25 fiscal year. Sunteck Realty's pre-sales have surged to Rs 1,026 crore, a 31.2% increase from Rs 782 crore recorded in the same period last year. Similarly, collections for the first half of the year have risen by 21.3%, reaching Rs 609 crore compared to Rs 502 crore in the previous year.
Sunteck Realty is known for its strategic focus on city-centric developments. The company's portfolio includes a diverse range of projects totaling around 52.5 million square feet across 32 locations. This extensive portfolio positions Sunteck as a key player in the real estate market, particularly in urban areas where demand for high-quality living spaces is consistently on the rise.
Currently, Sunteck Realty is actively working on three new projects. These include a project in South Mumbai’s Nepean Sea Road, another in the Bandstand locality of Bandra, and an international project in Dubai's Burj Khalifa community area. These projects are expected to further strengthen the company's market presence and attract a broader audience.
Sunteck Realty's focus on prime locations and quality developments has been a driving force behind its success. The company's commitment to delivering superior living experiences and its ability to adapt to market demands are key factors in its continued growth and strong financial performance.
Frequently Asked Questions
What is Sunteck Realty's pre-sales growth for Q2 2024?
Sunteck Realty reported a 33% year-on-year growth in pre-sales, reaching Rs 524 crore for the quarter ended September 2023.
What is the total pre-sales for the first half of 2024-25?
Sunteck Realty's pre-sales for the first half of 2024-25 reached Rs 1,026 crore, a 31.2% increase from Rs 782 crore a year ago.
How much did Sunteck Realty's collections grow in Q2 2024?
Sunteck Realty's collections grew by 25% to Rs 267 crore in Q2 2024, compared to the same period last year.
What is Sunteck Realty's total project portfolio size?
Sunteck Realty's project portfolio includes around 52.5 million square feet spread across 32 projects, focusing on city-centric developments.
What are the new projects Sunteck Realty is currently working on?
Sunteck Realty is currently working on three new projects: one in South Mumbai’s Nepean Sea Road, another in the Bandstand locality of Bandra, and an international project in Dubai's Burj Khalifa community area.
Related News Articles
Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base
Aadhar Housing Finance projects disbursements and assets under management to grow at over 20% this year
No Reversal on Real Estate LTCG Tweaks: Government Stands Firm
Government sources have confirmed that there will be no reevaluation of the changes made to Long Term Capital Gains tax (LTCG) in the Union Budget, despite concerns over the removal of Indexation benefit on property sales.
Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties
EastGroup Properties, a real estate investment trust (REIT) specializing in industrial properties, is at a crossroads in the ever-evolving industrial REIT landscape.
Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore
In a strategic move, Godrej Group, through its real estate subsidiary Anamudi Real Estates, has acquired a significant plot of land in the bustling city of Mumbai for Rs 81 crore. This acquisition marks a major step in the company's expansion plans in one
Why Pattaya is the Next Big Thing for Indian Property Investors
A luxury sea-view condo in Pattaya costs as much as a mid-range apartment in Mumbai. Discover why Pattaya is quickly becoming a hot spot for Indian property investors, offering exceptional value and potential returns.
Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?
With reduced EMIs making home loans more affordable, Akshaya Tritiya could be the catalyst for a surge in real estate demand, especially in the luxury and high-end market segments.