SUNTECK
CLSA ON SUNTECK REALTY : 13.07.2021
• Presales down QoQ but up YoY in 1Q
• Targets 40% -50% growth in FY22
• Targeting 2x sales by FY24 led by strong mid-income
• Mumbai market seeing a sharper recovery
CLSA ON SUNTECK REALTY : 13.07.2021
* MAINTAIN BUY TARGET: 440 (PREVTGT:425)
* Sunteck Realty's collection efficiency continues to improve, CLSA increases pre-sales estimates by 12% & 9% for FY22 & FY23
* Presales Down QoQ But Up YoY In Q1, Targets 40%-50% Growth In FY22
* Co Confident Of Achieving 1,40-1,500 Cr In Presales In FY22
* Collection Efficiency Continues To Improve
* We Increase Our Presale Estimates By 12% & 9% For FY22 & FY23
* Like The Stock On Ramp-up Of Its Mid income & Affordable Hsg Portfolio
