Sunteck Realty Q3 profit rises 34% to Rs 57 cr

Sunteck Realty has posted a 34 per cent increase in its consolidated net profit to Rs 56.83 crore for the third quarter of this fiscal year.

Its net profit stood at Rs 42.52 crore in the year-ago period.

Total income rose to Rs 356.04 crore in the October-December period of this fiscal from Rs 174.76 crore in the corresponding period of the preceding year, according to a regulatory filing on Tuesday.


On the operational front, Sunteck Realty Ltd's sales bookings increased to Rs 734 crore during the third quarter of this fiscal from Rs 635 crore in the year-ago period.

Sunteck Realty said it has recently acquired a 1.75-acre land parcel located at Andheri, Mumbai. The project has an estimated revenue of Rs 2,500 crore.

This is the company's third strategic addition to its development portfolio in the current financial year, following the Mira Road project on Western Express Highway and a redevelopment project at Andheri near Western Express Highway.

The combined estimated revenue potential of these three upcoming projects is around Rs 5,000 crore.

Sunteck Realty is one of the leading real estate developers in the country.

The company has a portfolio of over 50 million square feet spread across 32 projects.