Sunteck Realty Reports 33% Year-On-Year Pre-Sales Growth to Rs 524 Crore for Q2 2024-25
Sunteck Realty, a prominent real estate developer, has announced a significant 33% increase in pre-sales to Rs 524 crore for the quarter ending September 2023. The company also recorded a 25% rise in collections to Rs 267 crore. The strong performance und
Sunteck RealtyPresales GrowthReal EstateMumbaiInternational ProjectsReal Estate NewsOct 14, 2024
This stellar performance has bolstered the company’s pre-sales numbers for the first half of the 2024-25 fiscal year, which now stand at Rs 1,026 crore, a 31.2% increase from Rs 782 crore in the corresponding period last year. Collections for the first half also saw a 21.3% rise, reaching Rs 609 crore from Rs 502 crore a year ago.
Sunteck Realty’s success can be attributed to its strategic focus on city-centric projects. The company boasts a development portfolio of approximately 52.5 million square feet, spread across 32 projects. These projects are strategically located in key areas of Mumbai, ensuring accessibility and convenience for residents. Currently, Sunteck Realty is working on three major upcoming projects, which include
1. Nepean Sea Road, South Mumbai This prime location in South Mumbai is known for its premium residential and commercial properties. Sunteck Realty’s project here promises to offer luxury living with modern amenities.\n2. Bandra Bandstand Situated in the heart of Bandra, this project aims to cater to the growing urban population with high-quality residential units and commercial spaces.\n3. Burj Khalifa Community, Dubai Expanding its footprint internationally, Sunteck Realty is also developing a project in the prestigious Burj Khalifa community area in Dubai, further solidifying its reputation as a global player in the real estate market.
Commenting on the company’s performance, the CEO of Sunteck Realty expressed confidence in the future, stating, 'We are delighted with the strong pre-sales and collections figures for the quarter. This growth is a testament to our commitment to delivering high-quality projects in strategic locations. We look forward to continuing this momentum and expanding our portfolio to meet the evolving needs of our customers.'
Sunteck Realty’s focus on city-centric development and its commitment to quality have made it a trusted name in the real estate sector. The company’s ongoing projects and future plans promise to further enhance its presence in the market and provide valuable opportunities for both investors and homebuyers.
Frequently Asked Questions
What is the pre-sales growth reported by Sunteck Realty for Q2 2024-25?
Sunteck Realty reported a 33% year-on-year growth in pre-sales, reaching Rs 524 crore for the quarter ending September 2023.
How much did Sunteck Realty's collections increase in Q2 2024-25 compared to the same period last year?
Sunteck Realty's collections increased by 25% to Rs 267 crore in Q2 2024-25 compared to the same period last year.
What is Sunteck Realty's development portfolio size?
Sunteck Realty's development portfolio spans approximately 52.5 million square feet across 32 projects.
Where are Sunteck Realty's upcoming projects located?
Sunteck Realty's upcoming projects are located in Nepean Sea Road in South Mumbai, Bandra Bandstand, and the Burj Khalifa community area in Dubai.
What is Sunteck Realty's focus in terms of project development?
Sunteck Realty focuses on city-centric development, strategically locating its projects in key areas of Mumbai and expanding internationally to areas like Dubai.
Related News Articles
Revolutionizing Luxury Real Estate: The Rise of Fractional Ownership
Discover how fractional ownership is changing the luxury property market, making high-end homes in cities like Mumbai and Bangalore more accessible to investors.
Info Edge Sees 75% Surge in Q1 Profit, Driven by Naukri and 99acres Growth
Info Edge's Q1 profit jumps 75.6% to Rs 258.8 crore, driven by strong growth in recruitment and real estate businesses.
Real Estate vs Mutual Funds: Which Investment Avenue Should You Choose?
Investing in real estate or mutual funds requires careful consideration of market conditions, tax implications, and personal risk profiles.
Avoiding Housing Project Delays: A Homebuyer's Guide to Due Diligence
Close to 2000 under-construction housing projects remain stalled, jeopardizing consumers' investments. Homebuyers must do their due diligence when choosing a real estate development partner.
2025: A Year of Record-Breaking Luxury Real Estate in Mumbai
The Mumbai Metropolitan Region (MMR) has seen a significant surge in luxury real estate transactions, with a 26% rise in high-value property sales. M3M, a leading real estate developer, is at the forefront of this trend, focusing on delivering premium res
Haryana Real Estate Regulatory Authority Directs Anant Raj Builders to Pay Interest and Execute Conveyance Deed
In a landmark decision, the Haryana Real Estate Regulatory Authority (Haryana RERA) has ordered Anant Raj Builders to pay interest and execute a conveyance deed in favor of a homebuyer. This move is seen as a significant step towards protecting the rights