Sunteck Realty Limited (NSE: SUNTECK) Q1 2026 Earnings Call dated Jul. 18, 2025
Corporate Participants:
Unidentified Speaker
Kamal Khetan — Chairman & Managing Director
Prashant Chaubey — Senior Vice President – Corporate Finance
Prashant Chaubey — Chief Financial Officer
Analysts:
Unidentified Participant
Biplab Debbarma — Analyst
Sourabh Gilda — Analyst
Vasudev Ganatra — Analyst
Biplab Debbarma — Analyst
Abhinav Sinha — Analyst
Sourabh Gilda — Analyst
Anuj Upadhyay — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Suntech Realty Earnings conference call for Q1FY26. We have with us today Mr. Kamal Ketan, the Chairman and Managing Director of the company. Mr. Prashant Chaube, the Chief Financial Officer and Mr. Abhishek Shukla, the Vice President of Strategy and Investor Relations. Please note this call will be for 30 minutes and for the duration of the conference call. All participant lines will be in the listen only mode. This conference call is being recorded and the transcript for the same may be put up on the website of the company.
After the management’s discussion there will be an opportunity for you to ask questions. There will be Q and A session and we request to restrict questions to two per participant. Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touchstone phone. Before I hand the conference over to the management, I would like to remind you that certain statements made during the course of this call may not be based on historical information or facts and may be forward looking statements including those related to business statements, plans and strategies of the company, its future financial condition and growth prospects.
These forward looking statements are based on expectations and projections and may involve a number of risks and uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by such statements. I would like to turn the conference over to Mr. Ketan, the chairman and Managing Director of the company. Thank you. And over to you sir.
Kamal Khetan — Chairman & Managing Director
A very good afternoon to everyone and thank you for joining us today. We are off to a strong start with several positive developments that sets the tone for the year ahead. I would like to highlight a few key achievements that showcases our progress and momentum. We achieved a significant milestone with highest ever first quarter pre sales bookings of rupees 657 crores in Q1 of FY26 representing a year on year growth of 31% as against 502 crores in Q1 of FY25. Building on our strong performance, we reaffirm our guidance of achieving similar or a better growth for the full year of FY26.
As the Uber luxury and premium luxury segment continues to drive a larger share of our presales. We anticipate further margin expansion contributing to our overall profitability. On the business development front, I am pleased to share the addition of 2.5 acres of redevelopment project at Andheri Mumbai near Western Express highway with gross development value of Rupees 11 billion. With this project and more to be added in coming quarters. We are confident on of taking our GDV to more than Rupees 500 billion from the current GDV of Rupees 400 billion. We are accelerating our BD activity and have already invested more than Rupees 3 billion in current quarter compared to Rupees 1.8 billion for the full year FY25.
We continue to scale our operations by aggressively investing to drive the growth but at the same time our prudent cash flow management allows our balance sheet to remain strong with negligible net debt to equity ratio of 0.02x. As we are increasing our GDP value exponentially, we are gearing up for the new launches and we have set a target to launch new projects worth 11 billion. Sorry 110 billion GDV in the coming 3 quarters of the financial year FY26. I repeat this we have set a target to launch new projects worth Rupees 110 billion GDV value in the coming three quarters of the financial year FY26.
Our strong financial foundation enables us to pursue strategic initiative and be more agile and responsive to changing market conditions ultimately driving long term value creation for the company. I shall now hand over the call to Prashant Chaube to take you through the financial performance of Q1FY26.
Prashant Chaubey — Senior Vice President – Corporate Finance
Thank you sir. Good afternoon everyone. I trust you have had the opportunity to go through the latest results and the investor presentation which are published on our company website and the stock exchanges. I would like to take this opportunity to share brief update on financial and operational performance of Quarter 1 FY26. The key details are we sold Rupees 657 Crores worth of area in Quarter 1 of FY26 which is a 31% growth over Quarter 1 of FY25. Collections for Quarter 1 FY26 stood at Rupees 351 Crores as compared to Rupees 342 Crores in Quarter 1 of FY25.
The strong collections has resulted in a net operating cash flow surplus of rupees 108 crores in quarter one of FY26. On the PL fund operating revenue stood at Rs. 188 crores for quarter one of FY26. EBITDA stood strong at rupees 48 crores in quarter one of FY 26 representing 52% growth over quarter one of FY25. EBITDA of rupees 31 crores EBITDA margin stood at 25% up 15% on year. On year basis we reported net profit of rupees 33 crores which is a 47% growth over quarter one of FY25 and net profit margin stood at 18%.
Our net debt to equity stood at 0.02x and switch India ratings has affirmed long term credit rating of double edge table to us. With this we open the floor for questions. Thank you.
Questions and Answers:
operator
Thank you. Ladies and gentlemen, we will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use their handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. We take the fourth question from the line of Biplup Debarma from Antique Stockbroking. Please go ahead.
Biplab Debbarma
Good afternoon sir. And good afternoon. Prashant.
operator
If you can please unmute your line and ask your question.
Biplab Debbarma
Am I audible now? Hello, Am I audible?
operator
Since there is no response, we’ll move on to the next question which is from the line of Saurabh Gilda from JM Financial. Please go ahead.
Sourabh Gilda
Yeah, hi, I’m audible. Hello. Hello. Am I audible? Hello. Hello.
Kamal Khetan
There is no problem in your line.
operator
Yeah, I think I heard him. Yes sir, I’m here.
Kamal Khetan
Is there a problem in your line on?
operator
No sir.
Kamal Khetan
Then why the questions are not getting asked?
operator
I do apologize sir, but I will still check on that. Just give me a moment please.
Kamal Khetan
Is there a problem?
Unidentified Speaker
He has not unmuted the line. Analyst,
Kamal Khetan
You have not unmuted the line. You have not unmuted the line for. Analyst
operator
Saurabh’s line is unmuted from my answer.
Kamal Khetan
Then give it to someone else. There is some problem. People are saying there is an lying problem. Can you give it to the third participant and unmute the line?
operator
Sure sir, just give me one moment. We take the next question from the line of Abhishek Lozia from Motilal Oswald Financial Services Ltd. Please go ahead.
Kamal Khetan
Good afternoon. Am I audible?
Prashant Chaubey
Yeah, yeah, yeah. Very much.
Unidentified Speaker
Yes. Good afternoon sir. So my question is about collections. Collections somehow looks little weaker. Is there any reason to it or what? How should one look at the collections?
Kamal Khetan
Hi Abhishek Prashant Desai. So if you look at the collections Both on a Q1Q basis and on a year. On year basis our collections have gone up and in the coming quarters you will see these collections improving even Further as you are witnessing our pre sales is coming from newly launched projects. So as the construction moves ahead you will see collections moving collection momentum gaining further strength going forward.
Unidentified Speaker
Okay sir. Thank you. Thank you.
operator
Thank you. We take the next question from the line of Vasudev from Nuvama Wealth Management Ltd. Please go ahead.
Vasudev Ganatra
Yeah. Thank you for the opportunity sir. And congratulations on these great set of PCs. So my first question is you said we are trying to targeting to launch new services.
operator
Please unmute your line and ask your question.
Kamal Khetan
Is there a problem in your system? I think most of the people are not able to. You unmute their lines now.
operator
Yes sir. Oh no sir, the previous question. I did ask his question. Yes.
Kamal Khetan
Why three people have not been able to. We are not able to hear them.
operator
Well let me check once again. We do have follow up questions from Biplub from Antics Broking.
Kamal Khetan
Now can you ask Big club once again.
Biplab Debbarma
Yeah. Hello. Am I audible?
operator
If you can please proceed with your question.
Biplab Debbarma
Am I audible? Am I audible?
operator
Please unmute yourself from your end and ask your question.
Biplab Debbarma
Am I audible?
Kamal Khetan
Was there is a problem in your system. Huh? It cannot happen this way. There is a problem in your system.
operator
So let me check. Just give me one moment please.
Kamal Khetan
There is a problem in your system. Please just check.
operator
Till then we’ll move on to the next question from the line of Abhinav Sinha from Jeffries. Please. Please go ahead.
Kamal Khetan
Okay. Okay. Even he is not able to.
Abhinav Sinha
Hello.
Unidentified Speaker
We can hear all of us
Kamal Khetan
but that’s the problem. So we are not able to hear them.
Unidentified Speaker
Yes, alternate line.
Kamal Khetan
Take the backup.
operator
Abhinav, if you can please unmute yourself and ask your question.
Kamal Khetan
Everybody’s unmuted.
Kamal Khetan
Yeah Abhinav, we can hear you. We can hear you now.
Abhinav Sinha
Okay. So let me just go ahead with my questions. Yeah. Nobody said good to see the strong numbers. Just couple of things. One is on the new launch project. Target that you have said of 11. You know 110 billion in the next nine months. So can you detail what are these projects?
Kamal Khetan
So yeah Abhinav. So this is the launches from ODC 5th Avenue. Suntech City which is close to more than 1500 crore. And then Bandra Benchtrand which is more than 1000 crore. Anderi this Western Express Highways which is the new acquisitions which is again 1100 crore. Mira Road. We are looking to launch one more new tower which is again 1000 crore. Wasai Suntec Beach Residences which is again two more new towers. Because we are from the old inventories we are almost exhausting most of the inventory. So two more new towers there close to 500, 600 crores there.
Nigong Suntec World the one more new phase from there we are looking to Again, garner another 500 crores launch new launch of rupees a GDP value of 500 crore. So total GDV value from this launch pipeline including on APNC road should be close to 11,000 crore. What we look at this three quarters.
Abhinav Sinha
Okay. And how much of this you think is it 2Q versus you know second half of the year. Should we build in something right now?
Kamal Khetan
So so you know you. We all know that we are in the world of uncertainty in the case of approvals when it comes it is not in the company’s hand most of the time. So but we want to. That’s why gave targets for the full year and we are confident that we will be able to launch this kind of a GDV value for this financial year up FY26.
Abhinav Sinha
Sure. The second second question is on the business development side where you spend you know close to 3 billion this quarter. So how much of this is for Andheri? If you can guide us and you know what is say on the horizon from this money.
Kamal Khetan
So I would say and would be very negligible in fact it is for all most of the things it’s new horizon or maybe in one or two existing months to increase the size of it.
Abhinav Sinha
Okay. And so this 500 billion GDV target. This we should achieve by March or. Maybe sometime next year.
Kamal Khetan
We are talking about FY26.
Abhinav Sinha
Okay. Okay. Okay.
Abhinav Sinha
Great to see the. The strong sort of outlook here. Thanks.
Kamal Khetan
Thanks. Thanks.
operator
Thank you. We take the next question from the line of Saurabh Gilda from JM Financial. Please go ahead.
Sourabh Gilda
Yes. Hi everyone. I’m audible.
Kamal Khetan
Yeah, you’re audible now.
Sourabh Gilda
Yeah. Hi. Congrats on the good set of numbers. Just wanted to get your outlook on the Napian C project. I think it has been doing very well since the launch and this quarter also I think that has driven the luxuries sales. So how do you see the territory in FY26?
Kamal Khetan
So we are if you see the sales are coming from both luxury projects BKC and ODC sorry BKC and Nipincy as well. And we are looking obviously that’s why to launch all our very premium end segments including Ben Stand, Bandra west and that’s why even the western suburbs are also driving good, good sales. We are seeing. So that’s why ODC and and so that’s how we are looking and this will continue in FY26 and FY27. So we are more focused on now Uber luxury and premium luxury.
Sourabh Gilda
Okay, thanks. And just taking the collection part again. Is there any collection guidance that one. Can look at this year?
Kamal Khetan
So collection guidance. Giving guidance of collection would be very hard. But we can say that we will be definitely doing much higher than what we have done collections last year because new sales which are happening is from the new launches. So once the construction of this project starts, obviously the collections will. You will see the exponential growth in the collection accordingly for sure. But it will be. It will be substantially more than what we have collected last year. I can say. So we are talking about sales pre sales growth of more than 30%.
Where we can say here also there can. There can be a similar or something. There will be a substantial growth. I can say some similar growth. We can look at the collection.
Sourabh Gilda
Similar. As the sales growth.
Kamal Khetan
Not exactly. I would say because I am just understanding if you. We can at least say 0.9% of that. Because see you have to understand what we are doing is the new sales which are pre sales of the new, new launches. So new launches, the construction starts and it picks up. Then the collections will pick up. So that’s how it is. So but I can say it will be substantial more than the last year. Collection guidance will be very difficult for. Us to give it right now.
Sourabh Gilda
Okay. Okay sir, Fine. That’s helpful. Thanks so much.
Kamal Khetan
Thank you.
operator
Thank you. We take the next question from the line of Sriance Mehta from Aquarius. Please go ahead.
Unidentified Speaker
Yeah, so thanks for the opportunity. So first on any updates on our Dubai project? I mean when can we expect that to come on stream? And secondly, as far as our commercial asset of avenue is concerned, will the resi and commercial both come together?
Kamal Khetan
Yeah. So when it comes to Dubai project, I have maintained in fact even in my last call that Dubai launch will be. We are looking to be launching it closer to either Q4 of FD FY26 or closer or Q1 of FY27. That’s what we are targeting and we continue to maintain that. And when it comes to your commercial launch because our same RESC launch and ODC launch commercial both are Fifth Avenue and both are related to this environment clearance approval. Once we get the approval for the recipe simultaneously we are expecting expecting the approval for the commercial to also come.
Unidentified Speaker
Got it. Got it. And for one last if I can, in terms of our new GDB which we are targeting, will it be on our asset light model or will we Go for some land creation. How should one look at it?
Kamal Khetan
So it will be a combination of. I would say all three. All three. When I say in a satellite it will be redevelopment as well as JD JVs. And when it comes to asset heavy we have been doing so. If you see that this quarter we have invested almost 300 crore in just one quarter for new acquisitions. And if you see visible 180 crore which was invested in the last full financial year of FY25. So we are very clear that we want to go aggressively. At the same time we also want to launch this JDB aggressively.
Unidentified Speaker
Got it? Got it. That’s it. From my side. Thank you and all. Thank you.
Kamal Khetan
Thank you.
operator
Thank you. Ladies and gentlemen. If you wish to ask a question Please press star and 1. We take the next question from the line of Anuj Uphade from Investec. Please go ahead.
Anuj Upadhyay
Yeah. Hi. Thanks for the opportunity sir. So I do understand it’s difficult for. You to quote a number on the. Collection growth for the year. But at least if you get kind of a sense which are the project from where we can expect the collection to be higher relative basis that would be helpful. Who would be the major contributor in terms of the collection?
Kamal Khetan
So obviously major contribution, whatever we have already launched and the constructions have already started and incremental sales happening in those like ODC 4th Avenue which is. We have already received the occupation certificate There we are seeing a large collection coming up Mira Road which is launched last year and we have launched three towers and the construction is going at the full swing there. There we’ll see a huge collection there we have sold very heavily and there are six towers which are under construction There you will see a huge collection. All this will give you numbers which is higher than the current FY25 number which is much higher.
So if I’m saying I want to very clarify that if our presence grows by 30, 35% we might not grow collection by 30 35% but we can decently look at anything closer to 20% or 20 around that look that area. So that’s how we are looking at. Because more sales presales if you see are coming from the new launches. So the new launches obviously next year you will see that effect of those coming so incrementally you might see next year maybe we will be in line with the pre sales growth, our collection growth or maybe more than that.
Anuj Upadhyay
Fair point. This is very helpful. Thanks for that.
Kamal Khetan
Thank you. Thank you.
operator
Thank you. Ladies and gentlemen, a reminder if you wish to ask a question please press star and 1. Ladies and gentlemen, if you wish to ask a question, please press star and one. Ladies and gentlemen, we take that as the last question and I now hand the conference over to the management for their closing comments.
Kamal Khetan
Thank you all for taking the time out of your busy schedule to join us today for the call. In case if any of your queries have been left unanswered, please feel free to reach out to us. We truly value your continued support and look forward to strengthen this relationship. Thank you.
operator
Thank you. On behalf of Fintech Realty, that concludes this conference. Thank you for joining us. And you may now disconnect your lines. It.