Sunteck Realty has reported 348% on-year jump in net profit at Rs 35 crore for the quarter ended September. The developer’s revenue from operations also grew 578% from a year ago to Rs.169 crore.
Operating profit for the quarter registered 364% on-year growth at Rs 37 crore. The company’s pre-sales rose nearly 33% to Rs 524 crore, while collections increased to Rs 267 crore, up nearly 25%.
The quarterly performance has pushed pre-sales numbers for the first half of 2024-25 to Rs 1,026 crore, up 31.2% from Rs 782 crore a year ago. For the first half of the year, collections rose 21.3% from a year ago to Rs 609 crores.
Sunteck Realty focuses on city-centric development portfolio of around 52.5 million sq ft spread across 32 projects. It is currently working on three upcoming projects including one each in South Mumbai’s Nepean Sea Road, Bandstand locality of Bandra, and an international project in Dubai’s Burj Khalifa community area.