Sunteck Realty Limited Announces Financial Results For Q4 & FY21

* Pre-sales grew by 6% Q-o-Q to Rs 371 cr in Q4 FY21 

* Collections grew by 27% Q-o-Q and 83% Y-o-Y to Rs 321 cr in Q4 FY21  

* Net debt to equity ratio strengthened to 0.18x in FY21 from 0.24x in FY20  

* Strong positive operating cash flow of Rs 286 cr generated in FY21 

Sunteck Realty Limited, luxury real estate developer, announced its Q4 and FY21 financial results.  

Q4FY21 Highlights – 

* Strong pre-sales witnessed during the quarter. 

* Highest-ever collections achieved during the quarter. 

* Acquisition of ~7 acre land parcel at Borivali (West), under the asset light JDA model. The residential project in the western suburbs of Mumbai Metropolitan Region (MMR) will have ~1 mn sq ft of development potential.  

* Strong cash flows during the quarter resulting in further reduction of negligible net debt (excl. quasi-equity) to 0.18x from 0.24x in FY20. Our average cost of borrowing has further come down during the quarter. 

FY21 Highlights – 

* Strong positive operating cash flow of Rs 286 cr generated in FY21 

* Highest-ever pre-sales achieved in the mid-income segment driven by residential projects at ODC, Goregaon West - a Y-o-Y growth of 77%.  

* Strong pre-sales also witnessed in the ready to move in projects across segments. 

* Highest-ever collections achieved in a financial year in FY21 at Rs 780 cr. 

* Aggressive project acquisition done in FY21 within the industry - 3 new project acquisitions under the asset-light strategy totaling to approx. 8 mn sq ft. at Vasai, * Vasind and Borivali. These projects will further strengthen the cash flows and balance sheet of the company. 

* The consolidated net debt has been reduced to Rs 498 cr (excl. quasi-equity) improving the Net D/E to 0.18x from 0.24x in FY20.