SunTeck Realty
Sunteck Realty Limited (SRL) is a Mumbai"based real estate development company, catering to the premium ultra"luxury and luxury residential segment. SRL boasts of a city centric development portfolio of about 23 million square feet spread across 25 projects and 4 rented assets. Sunteck’s flagship projects at Bandra"Kurla Complex (BKC) comprises of three residential projects: Signature Island, Signia Isles and Signia Pearl.
The company for Q2FY17 showed a rise in consolidated net sales by almost 5 times (YoY) to Rs.142 crore and the other income of Rs.64 crore is what has given its bottomline so much traction. Net profit was up over 6 times at Rs.97 crore; sequentially it is up 62%. Thus lower base effect on YoY has given it a fantastic number for current Q2.
Its borrowings as at 30th Sept 2016 stands at Rs.1080 crore, up over 4 times from Rs.243 crore in previous Q2. The substantial interest outgo of Rs.26 crore v/s Rs.7 crore says it all.