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Sunteck Realty has posted a 34 per cent year-on-year increase in consolidated net profit to INR 56.83 crore for the third quarter of the current financial year, supported by a sharp rise in income and steady sales bookings. Total income nearly doubled to INR 356.04 crore, while quarterly bookings increased to INR 734 crore. The company also strengthened its development pipeline with a new land acquisition in Andheri, Mumbai, adding to two earlier projects announced during the year, with a combined revenue potential of about INR 5,000 crore.
Sunteck Realty has recorded a 34 per cent rise in its consolidated net profit for the third quarter of the current financial year, reflecting improved operational performance and higher income. The company reported a net profit of INR 56.83 crore for the quarter, compared with INR 42.52 crore in the corresponding period of the previous year, as per its regulatory disclosure. Advertisement
Total income during the quarter under review increased sharply to INR 356.04 crore, up from INR 174.76 crore reported in the same quarter last year. The rise in income indicates stronger execution and better project-level cash flows during the period.
From an operational standpoint, Sunteck Realty posted higher sales bookings during the quarter. The company's bookings rose to INR 734 crore, compared with INR 635 crore in the year-ago period, supported by steady demand across its key projects.
Alongside improved financial performance, the developer continued to expand its development portfolio. Sunteck Realty has acquired a 1.75-acre land parcel in Andheri, Mumbai, which is expected to generate an estimated revenue of around INR 2,500 crore once fully developed.
This acquisition marks the company's third strategic addition in the ongoing financial year. Earlier additions include a project at Mira Road along the Western Express Highway and a redevelopment project in Andheri, also located near the Western Express Highway. Together, these three upcoming projects are estimated to offer a combined revenue potential of nearly INR 5,000 crore.
Sunteck Realty is among the established real estate developers in India, with a development portfolio exceeding 50 million square feet across 32 projects, largely focused on the Mumbai Metropolitan Region.
Source PTI
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