Sunteck Realty rises as Q1 pre-sales bookings jump

Sunteck Realty

13/07/2021 05:43

** Shares of real estate development co  SUNT.NS  jump 8.5%
to 379.2 rupees, highest since mid-Feb
    ** Co reported on Monday Q1 FY22 pre-sales bookings rose 74%
to 1.76 billion rupees ($23.64 million), YoY
    ** Growth led by performance of mid-income and affordable
housing projects - SUNT
    ** Co also reports collections for the qtr jumped 165% to
1.72 bln rupees
    ** Industry consolidation leading to rise in share of
business for organized developers, Sunteck to be among the
biggest beneficiaries of this trend - Kamal Khetan, SUNT
chairman 
    ** Stock marks biggest intraday pct. gain since May 10 
    ** Around 2.9 mln shares change hands by 0430 GMT, vs 30-day
avg. of 869,521 shares
    ** Including Tuesday's high, SUNT stock up ~9% YTD 
    


($1 = 74.4610 Indian rupees)

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com))