Sunteck Realty Ltd Share Price – NSE  /  BSE

Realty, Small Cap

Sunteck Realty announced that India Ratings has upgraded the company's long term issuer rating from IND AA- to IND AA with stable outlook. The instrument-wise rating action is as under:

Term loans - IND AA/ Stable (upgraded)
Proposed term loans - IND AA/ Stable (upgraded)
Short term (OD facility/ fund based working capital limits) - IND A1+ (affirmed)
Proposed term loans (new) - IND AA/ Stable (assigned)

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The pre-sales are higher by 49% as compared with the figure of Rs 455 crore posted in Q3 FY24.

Sunteck’s FY24 pre‐ sales stood at Rs 1,915 crore, a growth of 20% on a YoY basis.

The company recorded collections of Rs 296 crore in Q4 FY23, down 10% YoY and down 32% QoQ. The real estate developers collections for FY24 added up to Rs 1,236 crore, down 1% YoY.

Sunteck Realty (SRL) is engaged in the development of residential and commercial properties. SRL's developmental activities are mainly spread out in the Mumbai Metropolitan Region, along with some development in Tier-II cities such as Jaipur, Nagpur and Goa through completed or forthcoming projects.

The company had reported a consolidated net loss of Rs 9.73 crore in the quarter ended December 2023 as against net profit of Rs 2.07 crore during the previous quarter ended December 2022. Sales declined 52.48% to Rs 42.45 crore in Q3 FY24 over Q3 FY23.

The scrip had lost 0.78% to end at Rs 427.50 on the BSE yesterday.

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Sunteck Realty is expanding its annuity income business of its commercial portfolio as it enters a long term understanding/ agreement of its second premium commercial building at BKC Junction, Sunteck Icon, to Bennett, Coleman & Co.  

The built]up area of Sunteck Icon is approximately 2 lakh square feet with an approximate rental of Rs. 300 per Sq. Ft. per month on carpet area basis. This will allow the company to generate a revenue of close to Rs 2,000 crore over the tenure of 29 years.  

This encompasses a major milestone for the company as this is the second building on BKC Junction for Sunteck after leasing out BKC51 to Upgrad last year in March 2023 for 29 years.

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Godrej Properties Ltd, Jindal Stainless Ltd, Hindalco Industries Ltd, Divis Laboratories Ltd are among the other stocks to see a surge in volumes on BSE today, 13 February 2024.

Sunteck Realty Ltd recorded volume of 7.17 lakh shares by 10:47 IST on BSE, a 20.85 times surge over two-week average daily volume of 34390 shares. The stock gained 0.65% to Rs.458.70. Volumes stood at 26029 shares in the last session.

Godrej Properties Ltd recorded volume of 1.59 lakh shares by 10:47 IST on BSE, a 7.4 times surge over two-week average daily volume of 21447 shares. The stock lost 0.98% to Rs.2,233.25. Volumes stood at 32715 shares in the last session.

Jindal Stainless Ltd witnessed volume of 8.67 lakh shares by 10:47 IST on BSE, a 5.39 times surge over two-week average daily volume of 1.61 lakh shares. The stock dropped 3.80% to Rs.567.60. Volumes stood at 1.4 lakh shares in the last session.

Hindalco Industries Ltd saw volume of 5.46 lakh shares by 10:47 IST on BSE, a 2.32 fold spurt over two-week average daily volume of 2.36 lakh shares. The stock dropped 13.15% to Rs.505.80. Volumes stood at 1.97 lakh shares in the last session.

Divis Laboratories Ltd notched up volume of 18316 shares by 10:47 IST on BSE, a 2.03 fold spurt over two-week average daily volume of 9028 shares. The stock rose 0.61% to Rs.3,763.10. Volumes stood at 28075 shares in the last session.

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