Sunteck Q3 profit jumps over two fold to Rs 55.66 crore
New Delhi: Sunteck Realty has reported over two-fold jump in its consolidated net profit at Rs 55.66 crore for the quarter ended December 2017 on higher sales revenue.
Its net profit stood at Rs 20.6 crore in the year-ago period, the company said in a regulatory filing.
Total income also increased sharply to Rs 204.9 crore in the third quarter of this fiscal from Rs 90 crore in the corresponding period of the previous year.
"Sunteck has delivered a robust financial performance during this third quarter of FY2018. The improvement in market sentiments with a traction for our BKC projects has led not only to strong growth but also notable improvement in margins," the company's MD Kamal Khetan said.
The Mumbai-based firm focuses on a city-centric development portfolio of about 23 million square feet spread across 25 projects.
The company has projects in Bandra Kurla Complex (BKC), Oshiwara District Centre (ODC), Borivali, Airoli (Navi Mumbai), Andheri, Sion amongst other locations in Mumbai.