Sunteck Realty is on radar after the company posted a dismal set of Q1 earnings. In an interview to CNBC-TV18, Kamal Khetan, CMD of the company spoke about the results and his outlook going forward.
In past quarter we sold 11 units at Oshiwara District Centre (at Goregaon, Mumbai) and this is without any activation, marketing; we were going slow because of demonetisation, Real Estate Regulatory Authority Act (RERA) and goods and services tax (GST), said Khetan.
"We are looking forward to do something in the mid-income value housing. We are negotiating something and hopefully we will be coming out with some good news," he added.
On debt front, he said it's reduced by Rs 300 crore last year.
"There are a lot of distressed opportunities in the market and if we have to acquire something and for that if we need to raise money, we will definitely look at an appropriate time and decision will be taken accordingly," said Khetan.
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