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Residential and commercial real estate firm, Sunteck Realty released their quarterly financial report with a net consolidated profit of Rs. 68.25 crores posting a 95% rate of growth as compared to Rs. 34.95 crores made during the corresponding quarter of the previous fiscal year.
Sunteck Realty total consolidated revenue in the quarter under review grew by 58.3% to Rs. 211.08 crores in comparison to Rs. 133.37 crores amounted during the June-end quarter of the previous year. EBITDA (earnings before interest, tax, depreciation, and amortization) for the company rose by 57.8% to Rs. 111.6 crores.
The company’s standalone revenue was reported at Rs. 69.3 crores as against Rs. 56.19 crores in the Q1 FY18. The firm’s standalone profit stood at Rs. 62.04 crores versus Rs. 42.78 crores for the same time period as mentioned before. The company said in the statement that they achieved 42% year-on-year jump in fresh bookings worth Rs. 181.6 crores and also realized collection worth Rs. 161 crores sporting a 23% rise.
The company’s CDM said, “Sunteck has delivered a robust financial performance during the first quarter of FY19. The improvement in market sentiments with increased traction for our BKC and ODC (Oshiwara district center), Goregaon West projects has led to strong growth in the operational performance as well.”
