Sunteck Realty - Resilient Performance In Tough Times: ICICI Securities
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ICICI Securities Report
As per Sunteck Realty Ltd.’s Q1 FY22 operations update, the company has clocked healthy sales bookings of Rs 1.8 billion in Q1 FY22 (up 74% YoY) along with quarterly collections of Rs 1.7 billion.
We believe that the company has been able to utilise its learnings from FY21 and has been able to clock higher sales even in a Covid-19 impacted quarter by adopting digital channels to drive its sales bookings.
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.
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