Sunteck Realty - All Eyes On Upcoming Launches: ICICI Securities
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ICICI Securities Report
As per Sunteck Realty Ltd.’s Q4 FY21 operations update, after a tepid H1 FY21, the company has clocked robust sales bookings of Rs 3.7 billion in Q4 FY21 as well (up 6% QoQ) along with record quarterly collections of Rs 3.2 billion.
With sales momentum sustaining for completed/launched inventory, the company is targeting to launch the Naigaon Phase III and Vasai/Vasind projects in FY22E which is expected to boost sales in FY22-23E.
Our optimism on the company is driven by value of new Borivali project addition and exclusion of Andheri West project as the joint development agreement with the landowner has been cancelled.
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