Sub: Disclosure pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulations")
We would like you to take note of our key operational updates for Q2 FY23:
Pre-Sales:We had pre-sales of ~Rs 337 crores in Q2 FY23, up 24% on YoY basis. Our H1 FY23 pre-sales stood at ~Rs 670 crores, a growth of 49% on a YoY basis.
Collections: We had collections of ~ Rs 331 crores in Q2 FY23, up 60% on YoY basis. For the first half of FY23, collections stood at ~Rs 616 crores registering a growth of 63% on YoY basis.
Additionally, collections efficiency for H1 FY23 stood at 92%.
Performance
Q2 FY23
Q2 FY22
YoY
Q1 FY23
H1 FY23
H1 FY22
YoY
Summary
Pre-sales
337
272
24%
333
670
448
49%
Collections
331
207
60%
285
616
379
63%
Aforesaid nos. are provisional
Business Development: The Company acquired a posh land parcel of ~7.25acres at Beverly Park, Mira Road under the JDA model. The project is estimated to have development potential of approx 2.5mn sq.ft built up area with a revenue potential of around Rs 3,000 crore. Post pandemic, we have done multiple acquisitions to the tune of 25.5 mn sq.ft i.e. Borivali West, Vasai West, Shahad-Kalyan, Vasind, Pen-Khopoli and now, Beverly Park, Mira Road.
ESG: We have been felicitated with EDGE Green Building Pre Certification for our 4 residential projects namely, Sunteck Beach Residences (SBR), Vasai; 4th Avenue Sunteck City, ODC, Goregaon (W); Sunteck Maxxworld and Sunteck Oneworld at Naigaon by EDGE-IFC (World Bank Group) for our endeavor towards ensuring that the company's projects are designed sustainably as next generation buildings, keeping the environment's wellbeing at the center of its mission. We at Sunteck Realty are taking systematic steps towards prioritizing sustainability as part of our culture.
Credit Rating: In a recent rating review by CARE Ratings of Sunteck Realty Limited's long-term and short-term loan facilities, we have achieved a long-term rating of "CARE AA-/Positive" and short-term rating of "A1+". The ratings favorably factors in healthy booking status at an intermediate stage of execution in the overall project portfolio, leading to the build-up of sizeable committed receivables thereby rendering robust cash flow visibility and further draws comfort from strong financial risk profile of the company characterized with low reliance on debt for the development of projects.
This is for the information of your members, and all concerned. You are requested to disseminate the above information on your respective websites.
Thanking you.
Yours truly,
For Sunteck Realty Limited
Rachana Hingarajia
Company Secretary & Compliance Officer Membership No. A23202
Sunteck Realty Ltd. published this content on 17 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 October 2022 03:22:03 UTC.
Sunteck Realty Limited is an India-based company, which is engaged in the activities of real estate development of residential and commercial projects. It is engaged in real estate activities with owned or leased property. It focuses on a city-centric development portfolio of approximately 52.5 million square feet spread across 20 projects. The Companyâs projects are under six brands, such as Signature: uber luxury residences, Signia: ultra-luxury residences, Sunteck City: premium luxury residences, Sunteck Beach Residences: marquee luxury destination, Sunteck World: aspirational luxury residences, and Sunteck: commercial and retail developments. Its commercial and retail projects include Sunteck Promenade, Sunteck Pinnacle, Sunteck Icon, Sunteck Crest, SunteckCity 5th Avenue, BKC 51, Sunteck Centre, Sunteck Grandeur and Sunteck Kanaka. Its residential projects include Signature Island, Signia Pearl, Signia Isles, Signia Waterfront, Signia Oceans, and others.