Sunteck Realty booked houses worth Rs ₹537 crore in the March quarter, up 36 per cent on the quarter and up 6.8 per cent on year.
Collections during the quarter lagged sales at ₹330 crore, up 8 per cent on quarter but down 18.3 per cent on year.
The Mumbai-based real estate developer said that it has signed a lease deal with Upgrad at its commercial project SunteckBKC51 from which it expects revenue of ₹2,000 crore over the tenure of the lease.
The monthly rental is ₹300 per square feet and the company has leased out 2 lakh square feet. The gross capital value of the project is estimated at ₹550 crore, assuming 8 per cent capitalisation rate.
In FY23, the company sold homes worth ₹1,602 crore, up 23 per cent on year while collections at ₹1,250 crore, up 19 per cent on year.
Collection efficiency for FY23 stood at 78 per cent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.