Sunteck Realty Shares Surge 6% After Recording ₹500 Crore In Pre Sales & Impressive Q2 Bizz Update

The Sunteck Realty shares were zooming on the National Stock Exchange after recording a whopping Rs 520 crore in pre-sales, which saw a 33 per cent jump as a result of rebust demand in mumbai metropolitan demand compared to previous year pre-sales numbers.

The stock touched a day high level of Rs 602.75 after ringing the opening bell at Rs 568.85 at the national stock exchange.

The shares of Sunteck Realty were trading at Rs 587.75 per share on the Indian stock exchanges, with over 6 per cent of the gain amounting to Rs 33.35 per share.

The stock has increased 34 per cent so far this year and 26 per cent over the past 12 months. 52 was the relative strength index.

Total project under developed

The quarter saw a 25 per cent YoY increase in the company's collections to Rs 270 crore. Using the asset-light model, Sunteck Realty has added seven projects totalling approximately 26.5 million square feet since the pandemic began in Vasai, Vasind, Borivali, Kalyan, Pen-Khopoli, Mira Road, and Dubai.

Pre-sales in first half

Pre-sales increased to Rs 1,026.7 crore in the first half of the current fiscal year, a significant 21.3 per cent increase over the Rs 782 crore recorded during the same period in the previous fiscal year.

Q2 FY25 Bizz update

In the second quarter of fiscal 2025, Sunteck Realty also reported collections of Rs 267 crore, a 24.8 per cent increase from the previous year. Collections for the first half of the fiscal year totalled Rs 609 crore, up 21.3 per cent from Rs 502 crore for the same half of the previous fiscal year.

On October 18, the business is anticipated to release its second-quarter earnings.

Published on: Tuesday, October 15, 2024, 02:48 PM IST