MUMBAI: Sunteck Realty has reported 67% year-on-year jump in consolidated net profit at Rs 58.9 crore for the quarter ended June.
Revenue from operations rose 58% to Rs 211.1 crore led by improved new bookings and collections.During the quarter, the company achieved 42% rise in new bookings worth Rs 181.6 crore, while collections improved 23% to Rs 161 crore, Sunteck said in its earnings release.The improvement in market sentiments with increased traction for our BKC and ODC, Goregaon west projects has led to strong growth in the operational performance, said Kamal Khetan, Chairman Managing Director, Sunteck Realty.In the forthcoming quarter, the realty developer is looking to be present across the pricing spectrum in the residential segment, by launching the first phase of aspirational luxury project at Naigaon near Mumbai under the asset light joint development model.The company is also looking at picking up distressed projects within Mumbai Metropolitan Region (MMR).