Sunteck Realty on Monday released its key operational updates for the fourth quarter and the financial year 2022-23 through an exchange filing. In the financial year 2023 the company's pre-sales stood at Rs 1,602 crores with a growth of 23 per cent on a year-on-year basis while its collections were at Rs 1,250 crore with a 19 per cent year-on-year growth.
Additionally, collections efficiency for the financial year 2023 was 78 per cent.
Quarter 4 FY22
In the fourth quarter Sunteck Realty's pre-sales was at Rs 537 crore, with a 36 per cent growth against the previous quarter where it reported pre-sales of Rs 396 crore. The company's collection in the quarter ending March was at Rs 330 crore, up by 8 per cent on a quarter-on-quarter basis.
The company has signed an exclusive lease deal with Upgrad for its premium commercial project Sunteck BKC51 at BKC Junction. The project is set to generate a total revenue of approximately Rs 2,000 crore over the entire lease tenure. Upgrad will be paying starting rentals of close to Rs 300 per sq ft. per month on carpet area basis. The total leased out area is approximately 2 lakh sq. ft. on built up area basis. The gross total capital value of the project of close to 8 per cent capitalisation rate is estimated at approximately Rs. 550 crore.
The company in the exchange filing also said, "We have been recently awarded three ISO certifications, namely ISO 9001:2015 for the quality management system, ISO 14001:2015 for the environmental management system, and ISO 45001:2018 for occupational health and safety management system. It emphasizes our commitment to continuous advancements in all processes, policies, and communications leading to sustainable growth."
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
