Sunteck Realty FY20 collection up by 8 per cent

Mumbai-based premium housing construction player, Sunteck Realty has announced its operational updates for FY20 and Q4FY20.

The company’s pre sales stood at Rs 608 crore in Q4FY20, showing 110 per cent YoY growth. For FY20, pre sales stood at Rs 1,221 crore, showing two per cent YoY growth.

Looking at the collection, it declined by 15 per cent on YoY basis to Rs 175 crore in Q4FY20 as compared to Rs 207 crore in Q4FY19. For FY20, the collection amount stood at Rs 715 crore as against Rs 661 crore in FY19, showing eight per cent growth on YoY basis.

During FY20, the company sustained its strong sales momentum across various brands, enhanced by the new project launches of 4th Avenue SunteckCity, Oshiwara District Centre (ODC), Goregaon (W) and Sunteck MaxXWorld, Naigaon. A significant progress in the construction work across projects along with strong pre-sales has led to a major ramp up in collections.

In today’s trading session, the stock of Sunteck Realty opened at Rs 203 and jumped by three per cent and made an intraday high of Rs 206.15 on BSE.