For the quarter ended September, the number of pre-sales or bookings of real estate developers increased by 55% from the previous quarter and 36% year-on-year to reach Rs 2.72 billion. Both pre-sales and collections developed strongly, and the collection effect was too great.
The company mentioned in the documents submitted to the regulator that as the company continued to maintain the strong operating momentum achieved in the first quarter of fiscal year 2022, the quarterly collections increased by 20% from the previous quarter and 47% year-on-year. Developers attach great importance to the execution of their current investment portfolios, supplemented by internal growth capabilities, which have been the driving force for maintaining the continuous development of capital flows.
The company said that through the measures taken within the entire pricing range of the Mumbai Metropolitan Area (MMR), the company has a guarantee that in addition to the inventory that is ready to move in, the pre-sales driven by new products will also maintain strong development. In the second quarter of this fiscal year, the developer also launched a value-added joint growth plan with Amar Dye Chem of Shahad in Kalyan, near Mumbai.
This 50-acre project may grow by about 10 million square feet and is expected to generate about 90 billion rupees in revenue in the next 7-8 years. This will further strengthen the company’s capital flow and stability table. The company has been a major beneficiary of market consolidation in the residential sector, allowing it to expand its corporate investment portfolio with attractive return alternatives.
In the last 18 months, Sunteck acquired four initiatives in Vasai, Vasind, Borivali, and Shahad (Kalyan), including approximately 18 million square feet of investment portfolio. Looking to the future, the company hopes to use its franchise model and management experience to judge new development plans, thereby increasing its overall market share.
News Source : The Greater India
