Sunteck Realty Limited, a Mumbai-based luxury real estate firm, reported a net consolidated profit of Rs 3.02 crore in the first quarter of the fiscal year 2021-22, according to a Bombay Stock Exchange(BSE) filing.
Previously, the company had a net consolidated loss of Rs 3.08 crore in the same quarter of FY20.
The net consolidated income of Sunteck Realty in the first quarter of FY22 was Rs 96.11 crore, up 52% from Rs 63.20 crore in the same quarter the year before.
Kamal Khetan, chairman and managing director, Sunteck Realty told the media that the market is seeing a lot of consolidation and that they will be one of the major benefactors of it. The company has acquired three new projects in the Mumbai Metropolitan Region (MMR) as a result of the industry consolidation: Vasai, Vasind, and Borivali.
