Sunteck Realty Presales Rose 29.7% In June Quarter

Sunteck Realty Ltd.'s presales increased 29.7% year-on-year to Rs 502 crore in the quarter-ended June, according to the provisional numbers released by the company.

The collections for the quarter stood at Rs 342 crore, 18.8% higher in comparison to Rs 288 crore collected over the same period in the previous fiscal, the company said in an exchange filing on Friday.

In May, the board of directors of Sunteck Realty approved the resolution to raise Rs 2,250 crore through private placement and the issue of equity shares. The company also approved the amalgamation of its wholly owned subsidiary companies—Starlight Systems Pvt. and Satguru Infocorp Services Pvt.—with Sunteck Realty.

Shares of Sunteck Realty closed 2.20% higher at Rs 284.26 apiece on Friday, as compared with a 0.81% gain in the country's benchmark NSE Nifty 50.