Sales Bookings Of Sunteck Realty Goes Up 2% in FY20

New Delhi: The sales bookings of Mumbai-based Sunteck Realty Ltd (SRL) increased 2 percent to Rs 1,221 crore in the 2019-20 fiscal. SRL’s sales bookings were at Rs 1,202 crore in the 2018-19 fiscal.

In the fourth quarter (Q4) of the 2019-20 fiscal, the sales bookings of the company more than doubled to Rs 698 crore from Rs 289 crore in Q4 of the previous fiscal.

“The Indian economy is facing extraordinary challenges with the ongoing COVID-19 pandemic. While it’s still early to ascertain the impact on the real estate industry, I believe that Sunteck with its strong brand franchise and presence across the pricing spectrum, from uber-luxury to affordable segment, is well positioned to tackle challenges ahead," said Kamal Khetan, CMD, SRL in a statement.

Recently, the company got its Long-Term Issuer Rating at 'CARE AA-' with Stable outlook and Short-Term Issuer Rating at 'CARE A1+' from CARE Ratings.

The company’s consolidated net profit declined by 31 percent to Rs 33.64 crore in the third quarter of 2019-20 fiscal. The total income of the company remained almost at the same at Rs 199.34 crore in the third quarter of 2019-20 fiscal as compared to Rs 201.66 crore in the same quarter of the previous fiscal.