Sunteck Realty Q2 Results Review - Steady; New Launches, Project Additions To Step Up: Prabhudas Lilladher

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilldher Report.Sunteck Reality Ltd. reported healthy pre-sales of Rs. 4 billion; increased 17% YoY and 2% QoQ driven by high mid-income projects. However, collections declined by 26% QoQ as large part of sales were executed towards end of the quarter. Sunteck Realty’s proven ability to market ultra-luxury projects, aggressive and multi-pronged land acquisition capabilities in various micro markets across Mumbai Metropolitan Region is an interesting play on Mumbai’s high value real estate market. We expect Sunteck’s pre-sales to grow two times over next three years aided by ongoing projects and strong new launches pipeline. Further given likely strong cash flow generation (Rs 8-10 billion over FY23-26E), we see Sunteck to step up new project additions which will be a key catalyst for stock performance. Adoption of asset light model has enabled the company to acquire scale without straining its balance sheet and this will likely continue in new project additions too. Maintain ‘Buy’ rating with a target price of Rs. 565/share..Click on the attachment to read the full report:.Sunteck Realty Q2 Results Review - Existing Engines Delivering A Mixed Show: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Sunteck Realty Q2 Results Review - Steady; New Launches, Project Additions To Step Up: Prabhudas Lilladher

Kalyan and Nepean sea project to launch in Q3 FY24 and H2 FY25 respectively.

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