Sunteck Realty Limited announces “financial results for Q4 & FY21”

 Bengaluru, 1^st July 2021: Sunteck Realty Limited, luxury real estate developer, announced its Q4 and FY21 financial results.  

							Rs cr
Pre-Sales	Segment	1QFY21	2QFY21	3QFY21	4QFY21	FY2020  (Full year)	FY2021  (Full year)
BKC Projects	Luxury	-	-	-	90	72	90
ODC Projects	Mid-income	41	53	189	201	273	484
Naigaon Projects	Affordable	48	32	62	75	763	217
Other Projects	Mixed	12	115	99	5	113	231
Total		101	200	349	371	1,221	1,022
							Rs cr
Collections	Segment	1QFY21	2QFY21	3QFY21	4QFY21	FY2020  (Full year)	FY2021  (Full year)
BKC Projects	Luxury	-	44	-	51	100	95
ODC Projects	Mid-income	29	31	114	104	269	278
Naigaon Projects	Affordable	35	41	65	89	278	230
Other Projects	Mixed	1	26	73	77	68	177
Total		65	141	252	321	715	780

 Rs cr 

P&L	Q4FY21	Q3FY21	QoQ %	Q4FY20	YoY %	FY2021	FY2020	YoY %
Revenue	191	217	-12%	87	120%	614	560	10%
EBITDA	39	49	-20%	4	956%	137	168	-19%
OPM %	20%	22%		4%		22%	30%
Net Profit	10	23	-55%	-13	NM	42	75	-44%
NPM %	5%	11%		-15%		7%	13%

                                                                                            

              Rs cr 

Cash Flow Statement	FY2021	FY2020
Cash Flow - Operating Activities	286	-78
Cash Flow - Investing Activities	14	-18
Cash Flow - Financing  Activities	-332	88
Net increase/decrease in Cash & Cash Equivalents (C&CE)	-32	-8
C&CE at the beginning of the year	83	91
C&CE at the end of the year	52	83

Q4FY21 Highlights – 

• Strong pre-sales witnessed during the quarter. 
• Highest-ever collections achieved during the quarter. 
• Acquisition of ~7 acre land parcel at Borivali (West), under the asset light JDA model. The residential project in the western suburbs of Mumbai Metropolitan Region (MMR) will have ~1 mn sq ft of development potential.  
• Strong cash flows during the quarter resulting in further reduction of negligible net debt (excl. quasi-equity) to 0.18x from 0.24x in FY20. Our average cost of borrowing has further come down during the quarter. 

FY21 Highlights – 

• Strong positive operating cash flow of Rs 286 cr generated in FY21 
• Highest-ever pre-sales achieved in the mid-income segment driven by residential projects at ODC, Goregaon West - a Y-o-Y growth of 77%.  
• Strong pre-sales also witnessed in the ready to move in projects across segments. 
• Highest-ever collections achieved in a financial year in FY21 at Rs 780 cr. 
• Aggressive project acquisition done in FY21 within the industry - 3 new project acquisitions under the asset-light strategy totaling to approx. 8 mn sq ft. at Vasai, Vasind and Borivali. These projects will further strengthen the cash flows and balance sheet of the company. 
• The consolidated net debt has been reduced to Rs 498 cr (excl. quasi-equity) improving the Net D/E to 0.18x from 0.24x in FY20.