Sunteck Q3 profit jumps over two fold to Rs 55.66 cr

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

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.