#Q3FY2020

[oursunteck]

Sunteck Realty Limited announces Q3 FY2020 results

Commenting on the Q3 FY2020 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Aggressive sales strategy coupled with new project launches has led to success across our sub-brands, especially 4th Avenue at Sunteck City, ODC enabling us to triple our pre-sales sequentially to INR 325 crores in Q3FY20. In addition, we have been focused on augmenting our construction execution across board, which has further complemented our sales momentum. This strong sales traction is likely to continue in the upcoming quarters. This has reiterated our confidence that ongoing reforms in the real estate sector are setting the stage for sustainable growth of organized developers such as Sunteck Realty. Our balance sheet strength and prudent cash flow management gives us an edge to acquire projects across pricing spectrums, including distressed opportunities to scale up our business while maintaining attractive RoEs.”

About Sunteck Realty Sunteck Realty Limited (SRL) is one of the fastest growing Mumbai-based luxury real estate development company. SRL focuses on a city centric development portfolio of about 30 million square feet spread across 25 projects. Sunteck Realty has differentiated its projects under five brands: 1) ‘Signature’: Uber luxury residences 2) ‘Signia’: Ultra luxury residences 3) ‘Sunteck City’: Premium luxury residences 4) ‘Sunteck World’: Aspirational luxury residences 5) ‘Sunteck’: Commercial & Retail developments The Company has been a trendsetter in creating iconic destinations - The flagship project Signature Island at Bandra Kurla Complex (BKC) is home to some of the head honchos of leading global conglomerates. Sunteck City in Oshiwara District Centre (ODC), Goregaon is a well-planned 23 acres mixed-use development and Sunteck Westworld at Naigaon is the largest township of MMR’s western Suburbs spread across 150 acres.

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For Q3FY2020, GDL’s consolidated adjusted net earnings came under pressure led by steep decline in volume and profitability in its CFS business. Positively however, the rail business sustained healthy volume growth and profitability.

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