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 

Bengaluru, 1st July 2021: Sunteck Realty Limited, luxury real estate developer, announced its Q4 and FY21 financial results.  

 Rs cr 
Pre-Sales Segment 1QFY21 2QFY21 3QFY21 4QFY21 FY2020 (Full year) FY2021 (Full year) 
BKC Projects Luxury – – – 90 72 90 
ODC Projects Mid-income 41 53 189 201 273 484 
Naigaon Projects Affordable 48 32 62 75 763 217 
Other Projects Mixed 12 115 99 113 231 
Total  101 200 349 371 1,221 1,022 
 
 Rs cr 
Collections  Segment 1QFY21 2QFY21 3QFY21 4QFY21 FY2020 (Full year) FY2021 (Full year) 
BKC Projects Luxury – 44 – 51 100 95 
ODC Projects Mid-income 29 31 114 104 269 278 
Naigaon Projects Affordable 35 41 65 89 278 230 
Other Projects Mixed 26 73 77 68 177 
Total  65 141 252 321 715 780 

 Rs cr 

P&L Q4FY21 Q3FY21 QoQ % Q4FY20 YoY % FY2021 FY2020 YoY % 
Revenue  191 217 -12% 87 120% 614 560 10% 
EBITDA 39 49 -20% 956% 137 168 -19% 
OPM % 20% 22% 4% 22% 30% 
Net Profit 10 23 -55% -13 NM 42 75 -44% 
NPM % 5% 11% -15% 7% 13% 

              Rs cr 

Cash Flow Statement FY2021 FY2020 
Cash Flow – Operating Activities 286 -78 
Cash Flow – Investing Activities 14 -18 
Cash Flow – Financing  Activities -332 88 
Net increase/decrease in Cash & Cash Equivalents (C&CE) -32 -8 
C&CE at the beginning of the year 83 91 
C&CE at the end of the year 52 83 

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. 

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