Sunteck Realty Returns to Profitability with Stellar Q4 Results
Sunteck Realty posts net profit of ₹101.3 crore in Q4
Real EstateEarningsSunteck RealtyQ4 ResultsDividend DeclarationReal Estate NewsMay 30, 2024
The company's revenue from operations witnessed a remarkable increase of 773.01% to ₹426.9 crore, compared to ₹48.9 crore in the same period of the previous fiscal. The operating level EBITDA stood at ₹153.4 crore, a significant improvement from the ₹9.1 crore loss reported in the corresponding period of the previous fiscal. The EBITDA margin stood at 35.9% in the reporting quarter.
The company has also reported the highest-ever pre-sales in a financial year, amounting to ₹1,915 crore. The board has recommended a final dividend of ₹1.50 per equity share of the face value of ₹1 each to the shareholders for the financial year ended March 31, 2024. The dividend shall be subject to the approval of the shareholders at the ensuing Annual General Meeting.
Additionally, the board has approved an enabling resolution for raising funds in one or more tranches either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB, etc. or any other method for an aggregate not exceeding ₹2,250 crore. Specifically, the company plans to raise up to ₹1,500 crore through non-convertible debt via private placement in one or more tranches. Additionally, the company aims to raise up to ₹750 crore by issuing equity shares and/or other securities convertible into equity shares, also in one or more tranches.
Shares of Sunteck Realty Ltd ended at ₹474.45, down by ₹6.80, or 1.41% on the BSE.
Sunteck Realty Ltd is a leading real estate company in India, known for its premium residential and commercial developments. The company has a strong presence in Mumbai and is expanding its footprint across other cities in India.
Sunteck Realty Ltd is committed to creating exceptional living and working spaces that meet the highest standards of quality and sustainability. With a focus on customer satisfaction, the company strives to deliver innovative and luxurious projects that exceed expectations.
Frequently Asked Questions
What is Sunteck Realty's net profit in Q4? A: ₹101 3 crore Q: What is the company's revenue from operations in Q4? A: ₹426 9 crore Q: What is the EBITDA margin in the reporting quarter? A: 35 9% Q: How much dividend has the company declared per equity share? A: ₹1 50 Q: What is the company's plan for raising funds? A: Up to ₹2 250 crore through various methods
Answer not available
Related News Articles
Is Buying a Home in Dubai a Smart Investment for Indian Buyers?
Dubai's tax-free environment, high rental yields, and strategic location make its real estate market highly appealing for Indian buyers. However, it's essential to weigh the pros and cons before making such a significant investment.
Exploring Saif Ali Khan's Luxurious Properties: From Mumbai's Bandra to Gurgaon's Pataudi Palace
Saif Ali Khan, the Bollywood heartthrob and part of the influential Khan clan, is known for his charm both on and off the screen. Off the screen, his lavish lifestyle is a topic of much interest. From his stunning Bandra house in Mumbai to the iconic Pata
Godrej Properties Set to Surpass Rs 20,000 Crore Project Addition Target in FY25
Godrej Properties is likely to exceed its guidance of Rs 20,000 crore worth of project additions for business development in FY25, driven by a strong pipeline and robust operating cash flow.
Uncovering the Lasalgaon Onion Purchase Scam: A Probe into the Multi-Crore Fraud
The Lasalgaon onion purchase probe has uncovered a massive scam, with allegations of corruption and misappropriation of funds. Read on to know more about the investigation and its implications.
Unlock Investment Opportunities in Navi Mumbai: CIDCO Auctions 48 Plots and 218 Shops
CIDCO plots are located near the upcoming Navi Mumbai International Airport and JNPT Port, offering a golden opportunity for investors and citizens to build their dream homes and expand their businesses.
Mumbai: Bollywood Actor Ayushmann Khurrana and Wife Rent Out Luxury Goregaon West Apartment
Bollywood actor Ayushmann Khurrana and his wife have decided to rent out their luxury apartment in Goregaon West, reflecting a growing trend among celebrities to invest in real estate and capitalize on Mumbai's booming rental market.