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HomeNewsTop NewsSunteck Realty posts net profit of Rs 101.33 crore in Q4 FY24

Sunteck Realty posts net profit of Rs 101.33 crore in Q4 FY24

 Sunteck Realty has reported net consolidated profit after tax of Rs 101.33 crore during the quarter ended March 31, 2024. It registered loss after tax of Rs 27.93 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.The company’s net consolidated total income stood at Rs 434.99 crore in Q4 FY24 as against Rs 56.90 crore it recorded in the similar quarter last year.

The board of directors recommended final dividend @ 150% of Rs. 1.50 per equity share of the face value of Re 1 each to the shareholders for the financial year ended March 31, 2024.The board approved enabling resolution for raising of funds in one or more tranches either by way of QIP, FPO, ADR, GDR, rights issue, debt issue, preferential issue, FCCB etc. or any other method for an aggregate not exceeding Rs. 2,250 crore in the following manner

a. non-convertible debt of not more than Rs. 1,500 crore by way of private placement in one or more tranches

b. by way of equity shares and/or any other securities convertible into equity shares of not more than Rs. 750 crore in one or more tranches

On January 19, 2024 and February 27, 2024, Sunteck YM Realty and Sundunes Real Estate were incorporated, as wholly owned subsidiaries wherein the holding company has subscribed 10,000 equity shares of face value of Rs 10 per share each amounting to Rs one lakh each on March 30, 2024 and April 23, 2024, respectively

On March 30, 2024, Piramal Sunteck Realty (PSRPL), a joint venture company, has completed the buy back of 112,600 fully paid-up equity shares (of which 50% i.e. 56,300 equity shares was of holding company) having face value of Rs 10 each at price of Rs 1,110 per equity share on a proportionate basis from its existing equity shareholders.

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