Sunteck Realty booked houses worth Rs ₹537 crore in the March quarter, up 36 per cent on the quarter and up 6.8 per cent on year.
Collections during the quarter lagged sales at ₹330 crore, up 8 per cent on quarter but down 18.3 per cent on year.
The Mumbai-based real estate developer said that it has signed a lease deal with Upgrad at its commercial project SunteckBKC51 from which it expects revenue of ₹2,000 crore over the tenure of the lease.
The monthly rental is ₹300 per square feet and the company has leased out 2 lakh square feet. The gross capital value of the project is estimated at ₹550 crore, assuming 8 per cent capitalisation rate.
In FY23, the company sold homes worth ₹1,602 crore, up 23 per cent on year while collections at ₹1,250 crore, up 19 per cent on year.
Collection efficiency for FY23 stood at 78 per cent.