Tag: Mr. Kamal Khetan

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Sunteck Realty Limited announces financial results for Q1 FY22

Jul 31, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.
         Rs cr
Operational Data Q1 FY22 Q1 FY21 YoY % Q4 FY21 FY 2021
Pre-sales 176 101 74% 371 1,022
Collections 172 65 165% 321 780

                     

  Rs cr
P&L Statement Q1 FY22 Q1 FY21 YoY % Q4 FY21 FY 2021
Revenue 93 55 69% 191 614
EBITDA 21 16 32% 35 137
OPM % 22% 28%   18% 22%
Net Profit 3 -3 NM 10 42

Commenting on the Q1 FY22 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “In this transformational environment, we remain focused on execution of our existing portfolio – reflected in construction and collection progress of our various projects. We continue to maintain our balance sheet strength, complimented by prudent cash flow management.

Presently, we are witnessing strong consolidation across the industry and we will be one of the biggest beneficiaries of this trend. The industry consolidation has already resulted in 3 new project acquisitions for us at Vasai, Vasind and Borivali in MMR. Going forward, we expect to leverage our brand franchise and management expertise to continue to evaluate new growth opportunities and thereby increasing our overall market share.

A key to our strong operational performance is being a dominant developer in each of the micro-markets and housing segments we are operating. Additionally, the focus on our core strength of sales & marketing and in-house construction capabilities will enable us to sustain this strong pre-sales and collections trend going forward.”

Sunteck Realty Limited rating affirmed ‘AA-’ with the outlook upgraded to ‘Positive’
Business World, News

Sunteck Realty Limited rating affirmed ‘AA-’ with the outlook upgraded to ‘Positive’

Feb 27, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.

Hyderabad: Sunteck Realty Limited, Mumbai’s premium real estate developer announced its long-term issuer rating affirmation of ‘AA-’ with the outlook upgraded to ‘Positive’ by India Ratings & Research (Fitch Group). The short term issuer rating has been affirmed “A1+”.

The upgrade in Outlook reflects the credit rating agency’s expectation of an improvement in the business profile of Sunteck due to acceleration in the already consolidating residential real estate market, with the pandemic-related disruptions having constrained demand and supply from unorganised real estate developers. The outlook upgrade is also supported by the resilient operating performance of Sunteck despite the pandemic. The price point diversity across completed, ongoing and new project launches, prudent financial policies, strong credit metrics and cashflow visibility also provided conviction to the outlook upgrade.

Commenting on the same, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “This affirmation of ‘AA-’ credit rating with upgrade in outlook to ‘Positive’ by India Ratings is a reflection of our continued focus on prudent cash flow management along with financial discipline. Strong operating cash flows has aided us in the further reduction of our already negligible debt. We intend to maintain this discipline going forward and focus on financial flexibility to grow our business. Our ongoing focus on execution driven by our strong in-house construction capabilities will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. With a strong uptick on sales front across our portfolio of projects, especially in the mid-income and aspirational segments, we remain confident of emerging as one of the biggest beneficiaries of the ongoing consolidation in the industry basis our balance sheet strength, established track record and operational cash flow visibility.”

Sunteck Realty Limited announces Operational Update for Q3FY21
News

Sunteck Realty Limited announces Operational Update for Q3FY21

Jan 12, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.

Hyderabad/Mumbai: Sunteck Realty Limited, Mumbai’s premium real estate developer, announced its Q3 and 9M FY20-21 operational updates.

Rs cr
Operational Data Q3FY21 Q2FY21 QoQ % Q3FY20 YoY % 9MFY21 9MFY20 YoY %
Pre-sales (new bookings) 349 200 75% 325 7% 650 613 6%
Collections 252 141 79% 166 52% 458 540 (15%)

SRL saw a robust growth in Pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY.

As the operations resume post lockdown, the Company has continued its strong sales momentum, supported by its ready-to-move-in, nearing-ready inventory as well as newly launched projects. With the construction activity returning to pre-COVID levels, the Company remains focused on accelerating the project progress across the portfolio to offset the time lost on account of the ongoing pandemic. SRL recently launched the second tower at SunteckCity 4th Avenue, ODC and received a tremendous response due to its esteemed brand lineage, differentiated product offering in the micro markets and commitment for the superior customer experience.

Commenting on the Q3 FY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Our customer-first approach has underpinned our continued strong performance. Our superior product offering coupled with strong customer servicing through out the life-cycle of our patrons has won us the brand loyalty we command in the market today. A combination of favorable factors such as the reduced stamp duty and low interest rates is expediting the home-purchase decision. We are observing a trend of increased demand and renewed buyer interest for high quality products, especially those with strong balance sheet and high brand recall. With project execution ramping up, the collections across our projects has been sequentially growing and we remain confident to maintain this strong trend.”

“Given the current socio-economic market dynamics, our continued focus on prudent cash flow management along with low debt ratios and financial flexibility have ensured our balance sheet strength on a sustained basis. We continue to focus on delivery driven by our strong in-house construction capabilities, which in turn will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. We believe, home buyers will continue to look for credible projects of reputed and financially strong real estate developers, as the pedigree of a trusted brand drives the preference for a new home buyer” he added.