Sunteck Realty Q3 net profit jumps over 3-fold to Rs 20.6 cr

Sunteck Realty Ltd today reported an over three-fold jump in consolidated net profit at Rs 20.60 crore for the third quarter ended December.
Its net profit stood at Rs 5.58 crore in the year-ago period, the company said in a regulatory filing.
Income from operations increased to Rs 83.68 crore in the third quarter of this fiscal from Rs 77.11 crore in the corresponding period of previous year.
"On the operational front, we were able to clock good sales at our BKC projects. The luxury residential segment at BKC has performed better even after demonetisation.
"These developments in BKC have thus defied the impact of demonetisation and we remain optimistic about residential sale prices in BKC going forward," Sunteck Realty CMD Kamal Khetan said.

Mumbai-based Sunteck Realty focuses on a city centric development portfolio of about 23 million square feet spread across 25 projects and 4 rented assets.