According to a regulatory filing, Sunteck Realty posted a 34% increase in its consolidated net profit to ₹56.83 crore for the third quarter of the current fiscal year, compared to ₹42.52 crore in the year-ago period. The company's total income rose substantially to ₹356.04 crore in the October-December period from ₹174.76 crore in the corresponding period of the preceding year, as reported by The Economic Times.
On the operational front, Sunteck Realty's sales bookings increased to ₹734 crore during the third quarter of this fiscal from ₹635 crore in the year-ago period, according to the regulatory filing. This growth in sales bookings reflects the company's strong market performance and customer demand for its projects during the quarter.
As reported by The Economic Times, Sunteck Realty recently acquired a 1.75-acre land parcel located at Andheri, Mumbai. The project has an estimated revenue of ₹2,500 crore, marking a significant addition to the company's development portfolio. This acquisition represents the company's third strategic addition to its development portfolio in the current financial year.
According to the regulatory filing, the recent Andheri acquisition follows two other major projects added during the current fiscal year - the Mira Road project on Western Express Highway and a redevelopment project at Andheri near Western Express Highway. The combined estimated revenue potential of these three upcoming projects is around ₹5,000 crore, significantly expanding the company's future revenue pipeline.
As reported by The Economic Times, Sunteck Realty is one of the leading real estate developers in the country. The company maintains a portfolio of over 50 million square feet spread across 32 projects, establishing its position as a significant player in India's real estate development sector.
