Sunteck Realty has reported 24% year-on-year growth in its pre-sales at Rs 337 crore for the quarter ended September taking its total pre-sales performance in the first half of the financial year to Rs 670 crore, up 49%.
The collections for the quarter rose 60% from a year ago to Rs 331 crore, while collections for the April-September period registered a 63% jump to Rs 670 crore with collection efficiency of 92%.
During the quarter, the company acquired a land parcel spread over 7.25 acres in Mira Road’s Beverly Park locality through a joint development agreement. The project is estimated to have development potential of around 2.5 million sq ft built up area and revenue potential of around Rs 3,000 crore.
Apart from this, post pandemic, the developer has made several acquisitions of a total 25.5 million sq ft in Borivali, Vasai, Shahad-Kalyan, Vasind and Pen-Khopoli.