Sunteck Realty hits new high

Sunteck Realty, which had closed at Rs.512.10 on Friday, went on to hit a new high today at Rs.554 on the back of doubling volumes.

Th stock price hit a new high after the company announced a good operational performance for Q3FY22.

In pre-sales, the company clocked Rs.352 crore, up 29% (QoQ) for Q3FY22 and up 23% for 9MFY22.

Its collections rose 30% for the quarter at Rs.270 crore and by 41% for 9MFY22. Collections efficiency for the 9MFY22 stood at 81%, up from 71% in 9MFY21.

In the last 18 months, the company acquired 23 million sq ft of development potential across five projects at Vasai West, Vasind, Borivali West, Kalyan (Shahad) and Pen-Khopoli, totaling to an estimated Gross Development Value (GDV) of Rs.20,000 crore.