Sunteck Realty rises 4% as realtor reports 7% increase in Q3 bookings

NEW DELHI: Shares of Sunteck Realty advanced 4 per cent in Tuesday's trade after the realtor said its sales bookings increased 7 per cent year-on-year to Rs 349 crore in the third quarter on better demand.

In a regulatory filing, the Mumbai-based developer said its sales bookings stood at Rs 349 crore during October-December quarter compared with Rs 325 crore in the same quarter last year.

On a quarter-on-quarter basis, sales bookings in Q3 were up 75 per cent from the previous quarter that saw sales of Rs 200 crore.


Following the development, the stock rose 4.19 per cent to hit a high of Rs 386.45 on BSE.

During the first nine months of FY21, sales bookings have risen 6 per cent to Rs 650 crore, from Rs 613 crore in the corresponding period of the previous year.

"As 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," Sunteck Realty said.

With the construction activity returning to pre-Covid levels, the company said it would focus on accelerating the project progress to offset the time lost on account of the ongoing pandemic.

Sunteck has a development portfolio of about 38 million square feet spread across 27 projects.