Sunteck Q4 concall highlights
Pre sales of 1915crs in FY24 a growth of 20%.
Long term credit rating upgraded to AA.
Company is now net debt free.
Expect a pre sales growth of 30-35% in FY25.
Sunteck has an inventory of around 8 months in projects under construction.
Launch pipeline:
Q2 – new phase of Mira Road and Naigaon
Q3 – 5th Avenue ODC
Q4 – Napean Sea Road
Value of inventory to be launched will be 4000 – 5000cr.
Revenue recognition to be higher than FY24 as 4th Avenue, Max World and sales from BKC will be recognized. Margins should also be better.
Value of ready to move in finished inventory is 1500 – 1600cr.
Looking for new business development in Luxury segment.
Sunteck has leased two commercial properties in BKC for rent of 70cr annually for a period of 29 years.
Looking to add new commercial property in ODC. Will use cash flow of business to create rental assets.
Disclosure: Invested
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