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Sunteck to Brigade, major listed realtors hike residential prices by 10%

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Sunteck Realty spurts after robust Q1 business update

Sunteck Realty surged 6.44% to Rs 371.05 after the company s pre-sales jumped 74% Y-o-Y (year-on-year) while collections grew 165% Y-o-Y in Q1 June 2021. Pre-sales grew 74% to Rs 176 crore in Q1 June 2021 as against Rs 101 crore in Q1 June 2020. For the full FY2021, pre-sales stood at Rs 1,022 crore. Collections soared 165% to Rs 172 crore in Q1 FY22 as against Rs 65 crore in Q1 FY21. For the full FY2021, collections was at Rs 780 crore. Collection efficiency stood at 98% of pre-sales in Q1 FY22 as against 64% in Q1 FY21. Commenting on the Q1 FY22 operational performance, Kamal Khetan, the chairman and managing director (MD) of Sunteck Realty, has said that: In the quarter gone by, we continued our strong momentum in operational performance. Both pre-sales and collections witnessed sturdy growth along with high collections efficiency. The industry consolidation is leading to rise in the share of business for organized developers and Sunteck will be one of the biggest benefici

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