May 31, 2024: Real estate developer Sunteck Realty announced its financial results today for the fourth quarter (Q4 FY24) and full fiscal year (FY24) ended March 31, 2024. In FY24, the company recorded its highest ever pre-sales of Rs 1,915 crore. The company’s revenue in FY24 grew by 56% YoY to Rs 565 crore. The core EBITDA grew by 63% YoY to Rs 266 crore in FY24 with a 47% margin. Sunteck Realty’s profit after tax (PAT) grew by 4934% YoY to Rs 71 crore.
The net debt to equity ratio stood at zero and long-term credit rating was upgraded from AA- to AA by India Ratings (Fitch). Moreover, it has leased its two commercial assets- Sunteck Icon and Sunteck BKC 51- at BKC Junction for a tenure of 29 years.
In Q4 FY24, Sunteck Realty’s pre-sales grew by 26% YoY to Rs 678 crore. The company’s revenue in Q4 FY24 grew by 774% YoY to Rs 427 crore. The core EBITDA grew by 845% YoY to Rs 199 crore with margin of 46%. During the quarter, its profit after tax (PAT) stood at Rs 101 crore while the net profit margin stood at 24%.
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