Sunteck Realty up over 4%

Sunteck Realty is up in the green today morning, rising over 4% to Rs.386.45; it is now trading at Rs.317 levels, up around 1.5%.

The company, today morning published its operational performance for Q3FY21 and it looks quite optimistic. Its growth on Pre-sales for the quarter rose 75% sequentially and by 7% (YoY) at Rs.349 crore. Collections also grew at 79% QoQ and by 52% (YoY) at Rs 252 crore.

The company said that the uptake in sales was aided by its ready-to-move-in, nearing-ready inventory as well as newly launched projects.

The company recently launched the second tower at SunteckCity 4th Avenue, ODC. The reduced stamp duty and low interest rates expedited home purchase decision. With project execution ramping up, the collections across its projects have been sequentially growing and we remain confident to maintain this strong trend.