Quote on Sunteck Realty reported pre-sales growth of 76% by Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Sunteck Realty reported pre-sales growth of 76% by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Sunteck Realty reported pre-sales growth of 76%
MMR-based real-estate player Sunteck realty reported pre-sales of ₹176 Crores in Q1FY22, up by 76% as compared to Q1FY21. ODC project and Naigaon projects reported good pre-sales of ₹76 Crores and ₹65 crores respectively. Collections are very strong, with an efficiency of 98%. The company reported collections of ₹172 crores in Q1FY21 up by 165% as compared to ₹65 crores in Q1FY21.
Q1FY21 had the low base due to covid19 pandemic and if we look at quarter on quarter numbers then company has reported de-growth in business. We expect the next quarter to be better than this quarter as some of the 2nd covid wave restrictions have been uplifted. We expect the real-estate sector to do better in FY22, we have a neutral outlook for Sunteck Realty.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
