Sunteck Realty Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 7444.16 Crore) operating in Real Estate sector.
Sunteck Realty Ltd. key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Rent, Sale of services and Project Management Fees for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 96.12 Crore, down -50.63 % from last quarter Total Income of Rs 194.67 Crore and up 39.49 % from last year same quarter Total Income of Rs 68.91 Crore. Company reported net profit after tax of Rs 4.39 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY rating on SRIN with a revised target price of Rs590/share (earlier Rs580) based on 1x NAV incorporating project level adjustments. Post the recent Shahad project addition, the company has a significant presence in peripheral areas of MMR with 11.8msf of area in MMR’s extended Western suburbs and 12.6msf in MMR’s extended Eastern suburbs. Key risks to the call are slowdown in the Mumbai property market volumes and fall in residential/commercial prices.
Promoter/FII Holdings
Promoters held 67.15 per cent stake in the company as of 30-Jun-2021, while FIIs owned 21.28 per cent, DIIs 4.0 per cent.
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