{"id":181752,"date":"2026-04-22T07:17:46","date_gmt":"2026-04-22T11:17:46","guid":{"rendered":"https:\/\/alphastreet.com\/india\/sunteck-realty-limited-sunteck-q4-2026-earnings-call-transcript\/"},"modified":"2026-04-22T07:36:22","modified_gmt":"2026-04-22T11:36:22","slug":"sunteck-realty-limited-sunteck-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/sunteck-realty-limited-sunteck-q4-2026-earnings-call-transcript\/","title":{"rendered":"Sunteck Realty Limited (SUNTECK) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Sunteck Realty Limited (NSE: SUNTECK) Q4 2026 Earnings Call dated Apr. 22, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Kamal Khetan<\/strong> \u2014 Chairman & Managing Director<\/em><\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Prashant Chaubey<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Pritesh Sheth<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Abhinav Sinha<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and Gentlemen, good day and welcome to the Suntec Realty earnings call for Q4 and full year FY26. 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 that this call will be for 30 minutes and for the duration of this conference call all participant lines will be in the listen only mode. This conference call is recorded and the transfer for the same may be put on the company’s website.<\/p>\n

After the management discussion there will be an opportunity for you to ask questions. There will be a Q and A session and we will request you to restrict your questions to two per participant. Should you need assistance during the conference call, please signal an operator by pressing Star and 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 prospect.<\/p>\n

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 from those suggested by such statements. I now hand the conference over to Mr. Kamal Ketan from Suntec Realty Ltd. Thank you. Hand over to you<\/p>\n

Kamal Khetan<\/strong> \u2014 Chairman & Managing Director<\/em><\/p>\n

A very good evening to everyone and thank you for joining us today to participate in our company’s earning conference call for the fourth quarter and full year of financial year FY26. I would like to take you through the key development for this period and before that to share the general outlook on the real estate. We believe that Uber Luxury and Premium Luxury to continue to do well and the aspirational luxury segment is also showing some signs of initial recovery given the decrease in home loan rate and income tax benefits.<\/p>\n

Coming to our results we delivered a strong financial performance for the full year of FY26 with revenue growth of 32% year on year, EBITDA growth of 64% year on year and a PAT growth of 34% year on year demonstrating our robust operational resilience and sustained profitability over the last three years since FY24 we have doubled our revenue growth and grown our EBITDA by 2.6x and nearly tripled our pat. On the operational performance front. I’m pleased to share that we have closed FY26 on the strong note.<\/p>\n

Our full year pre sales stood at rupees 32 billion registering a robust growth of 25% over FY25. This strong performance reaffirms the guidance we had shared at the start of the year. Sales contribution was well distributed across projects with our Uber Luxury and Premium luxury segment continuing to drive a larger share of our pre sales. This segment mix carries a high embedded EBITDA margin and we expect it to contribute meaningfully to our margin expansion going forward. It’s important to note that our unsold under construction inventory is Today less than 12 months amongst the lowest in the market and the ready unsold stock in our marquee projects gives us our required liquidity when needed.<\/p>\n

On the cash flow front, we have generated a strong net cash flow surplus of rupees 5.5 billion for the full year FY26 representing a growth of 48% year on year. This has enabled us to maintain our net debt to equity at negligible level of 0.06x. Despite the strong investment in business development. We have invested rupees 8.1 billion in full year of FY26 compared to rupees 1.8 billion for full year of FY25. This demonstrates our commitment towards expanding our development portfolio while preserving the balance sheet discipline.<\/p>\n

On the business development front in FY26 has been a strong year for the portfolio expansion. During the year we added three new projects to our portfolio with a combined gross development value of approximately rupees fifty billion which includes first one to 2.5 acres redevelopment project at Andheri near Western Express highway, the second one near 3.5 acres joint development project at Mira Road and lastly the outright acquisition of 1.75 acre land parcel at Anderi near International Airport which with this additions the total GDV of Suntec as of FY26 stands at approximately rupees 441 billion gross of pre sales.<\/p>\n

We remain firm and continue to evaluate more opportunities with a strong focus on high IRR and high equity multiple philosophy. We are incredibly proud of our sustainability leadership. In the 2025 Dow Jones Sustainability Index and Assessment we achieved an impressive ESG score of 78 out of 100 placing us among the top three Indian real estate developers on the global benchmark. Along with that we have also earned a stellar 99 out of 100 in the 2025 Global Real Estate Sustainability benchmark securing the coveted the Green five star rating.<\/p>\n

I shall now hand over the call to Prashant Chaube to make you through the financial performance of Q4 and full year FY26.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Thank you, sir. Good evening everyone. I trust you have had the opportunity to go through our 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 a brief update<\/p>\n

Pritesh Sheth<\/strong> \u2014 Analyst<\/em><\/p>\n

On<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Financial and operational performance of quarter four and twelve months of FY26. The key details are. We sold rupees 10. 64 crore worth of area in quarter four FY26. A growth of 22%. During the full year. We booked pre sales of rupees 3157 crores. A growth of 25%. Year on year, collections for quarter four stood at rupees 432 crores. A growth of 39%. And for the full year collections stood at rupees 14. 33 crores. Growth of 14%. On the profit and loss statement front<\/p>\n

Pritesh Sheth<\/strong> \u2014 Analyst<\/em><\/p>\n

Operating revenue<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Stood at rupees 339 crores. For quarter four of FY26. EBITDA stood at rupees 97 crores with a margin of 29%. And net profit stood at rupees 63 crores with a net margin of 19%. On the full year basis operating revenue stood at rupees 11. 24 crore. For FY26. EBITDA stood strong at rupees 305 crores with a bit of margin of 27%. And net profit stood at rupee 202 crores with a net profit margin of 18%. Net debt to equity stood at 0.06x with a net cash surplus of rupees 552 crores during FY26. Thank you.<\/p>\n

With this we open the floor for questions.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you. We will now begin the question answer session. Anyone who wishes to ask a question may press Star and one on your touchstone telephone. If you wish to remove yourself from the question queue, you may press Star and. Two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. We have the first question from the line of Kunal Lakhan from clsa. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Hi. Good evening. Quickly if you can give an update on the Dubai project in terms of launch timeline. Now considering the Middle east issue.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Hi Kunal. Thank you for the question. So we all know obviously the impact of due to the impact of work. So the project is launch ready for us. And whenever we See the event settling down. We will be looking forward to launch the project as soon as possible asap. Just to recap, our land parcel is one of the most prime location next to Dubai Mall in Burj Khalifa community downtown Dubai. And our land cost to GDB is very healthy and there is no debt on the project. So we maintain our earlier communication that this project will continue to remain highly profitable<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And we are<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Very comfortable situation and this does not impact any of the company’s growth trajectory. As far as the launch exact timeline. Obviously we have to see the event settling down and only then we will be able to launch asap. I can repeat at the cost of reputation. We are project launch ready right now.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood. Sir, just one thing in terms of like the interest or the demand that you are sensing for this project pre war, do you sense the same kind of excitement around the project once things settle down?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So it will be only if I make any statement it will be more of a speculative. I think it is. It’s very important Kunal that we see them how this settles up. And just at the game that the reputation cost company has no debt on the entire balance sheet of Suntec. And also at the SPV project level we don’t have any debt at no. There is a zero debt at Dubai project level also. So. And our cost of acquisition is like compared to even the post war. Whatever, whatever settles. Even if the market comes down, I continue to maintain once again the profitability will continue to remain very high in this project irrespective of what happens.<\/p>\n

Because our cost of acquisition is very very low compared to the pre. Even if the market corrects by 1020% we are not worried about it. But we will be looking to launch this project asap.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood sir. My second question is on the business development side like we did some substantial spend this year, 800 crores plus what. What should we expect for say 27. Like you know should this number be higher than 800 crore or like say 20 25% growth over last year.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So business development we like last year we have put like close less than 2 billion rupee 200 crores. And this year we have done more than 800 crores. We are obviously looking at our cash flow, strong cash flow and we will be investing aggressively. But at the same time we are very very clear that our profitability and IRR are not compromised. And it’s obviously all depends on the good opportunity which we do. So in my, in my remarks also I made it very clear that while doing the BD we will always maintain our philosophy of high IRR and high equity multiple philosophy.<\/p>\n

So we are very clear and we will be at the same time looking at our strong cash flows and we see the same cash flows coming in years, in current year as well as the next financial year. So we are very, very optimistic about the BD investments as well.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure, sure. Just a follow up on the cash flow, sir. Like you know if you look at the collections, right this, this year itself, like the collection, which is significant. We are,<\/p>\n

Kamal Khetan<\/strong><\/p>\n

We are losing you. We are. Can you, can you repeat?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Am I audible, sir? Now.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

And now you’re perfectly fine.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Just to follow up on the cash flows, sir, if you look at our collections this year the collections grew 14% YoY. Significantly lower than the sales growth of 25%. Right. And in a collection as a percentage of sales also like you know, it’s less than 50%. I mean in terms of cash flows, more so driven by collections. We should, we should see a substantial jump going into FY27, right?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yeah, definitely. FY27 we will have a better obviously person. That’s why you see the growth will continue to grow. It will have to become better and better. Yeah, I agree with you. FY27 and FY28 you will see a very, very strong cash flow. That’s why we are very, very bullish and optimistic about our acquisition strategy at the same time. Again just repeat meeting that without compromising on IRR and the, the multiples on the investment.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood, Understood. Thank you so much and all the best.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question from the line of Priteshit from Access Capital. Please go ahead.<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

Yeah, congrats on the continuation of growth trajectory. Just a couple of questions. First on the launches, you know, expected in FY27 apart from Dubai obviously which is an uncertain one. But apart from Dubai, which all launches should one expect to come by in FY27 and total GDV, if you can elaborate on that as well.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Sorry Prashant, you’ll like to answer this question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi. Hi Pritesh. So in terms of launches, we have a slew of launches that we are planning for the next 12 months. So as you are already aware, we have already launched Altavia Fifth Avenue in odc Goregaon West. So that project is already launched. Separately from that we have a project redevelopment project coming up in Andheri near Western Express Highway. Then we have a new tower coming up in Suntec Skypark in Mira Road. Then we have two more towers coming up in Suntec Beach Residences in Versailles.<\/p>\n

Then a new phase will come up in Suntec World in Nigaon plus the new acquisition in Mira Road that will also be launched in the current in the next 12 months. And already you have Napian Sea plus Napian Sea Road project is already there. So all these are you know the key launches that we are we have we see ourselves in the next 12 months<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

And in broader GDV of these launches if you have those number handy.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So it can be close to 6 to 7,000 crore of GDP. Close to approximately 7,000 crore of GDP.<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

Got it. That’s helpful. And just on you know the recent project that we have signed it’s mix of<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Just to just to correct 7000 crore of GDV from plus nipancy plus nippings. Yeah and plus BKC and plus the existing inventory.<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

Yeah yeah, sure sure. So second one on the recently acquired projects. Right. It’s mixed of outright as well as you know one redevelopment. You know what should be the margin expectations from those projects and if you can also highlight you know while bulk of the sales now is coming from the Uber luxury project, you know both BKC as well as as well as Nip and C Road, you know what should be the blended EBITDA margins that you know one should assume for FY26 pre sales that that we have done and and you know for whatever we have signed in FY26.<\/p>\n

Yeah.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So Pritesh from if you see current sales what we have done is 94 crores to approximately 100 crores have come from aspirational luxury and close to 360 to 70 crores have come from premium luxury and close to 600 crores have come from UPA luxuries and other commercials as well. So total if you see 10 to 15% is from aspirational luxury, 40 to 45% is from premium luxury and close to 50% is from Uber luxury and others commercials etc. So so these are the this is the way and when you come to when you are asking to to answer your second question what will be the kind of margin EBITDA margin what we are what we are looking at.<\/p>\n

So blended EBITDA margin we are looking at minimum 35 to 40% even in the new acquisitions we are not worried about coming down below 35%. We are very clear on that even in our new investment strategy or acquisition strategy or even a redevelopment or JVG JD so we are looking at minimum 30, 35% on each project basis.<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

Sure. So if I got you correctly FY26 pre sales. Whatever we have done then the debit margin should be 35:40 and that is what we are hoping to maintain for the up the recently signed projects as well.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So recently signed project you can say 30, 35% margins and blended will be close to 35 to 40%.<\/p>\n

Pritesh Sheth<\/strong><\/p>\n

Sure sir. Okay. Okay, that’s helpful. That’s it from my side and all the best.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you Pritesh. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question from the line of Puneet from hsbc. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, thank you so much. My first question is on, you know, some commentary on pricing trend. Where are you seeing the direction of pricing in Mumbai market? Are you finding still room to grow beyond inflation or should one assume more flattish growth there?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So Puneet, I gave in fact I feel that we should not expect too much of price rise from here. I think a stable price in this atmosphere or this current situation should be good enough. And we see the demand in Uber luxury and premium continue to maintain will be continued at the same momentum. We definitely feel we are very bullish on it. At the same time we are also feeling that even your aspirational luxury segment, affordable segment which is also looking a positive tick that we are seeing a good demand picking up there also because of the I think income tax benefits and also maintaining the home loans at a lower level.<\/p>\n

So that is now driving slight more demand than before.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Especially in last one month are you seeing any change in pattern given there is, you know clearly disturbance or uncertainty on account of war? I think slower footfalls in your projects or slower conversion rates at all.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

I can say definitely must have dropped by 5, 10% for sure. But I think conversion ratios are similar. But I think this is not more worrisome. I don’t see that it’s one month. If you see one month trajectory, I don’t think we should be worried about it. We are quite confident again at the cost of reputation. I maintain that we are quite confident on uber luxury as well as premium luxury segment. And we have seen, you have seen we have grown by throughout the year, 25% even the last quarter. We have done very well.<\/p>\n

So we are very bullish on it. We are very optimistic on it I would say. And at the same time we have seen in the last quarter even the demand picking up in aspirational luxury segment.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And any shortage of material labor that you are experiencing currently.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So yes, definitely there is some shortage but that was that I feel is more because of the like West Bengal elections. This all these elections the people labor tend to go for the voting purpose and all for various reasons. And again that. That is. We’ll see that coming back again because these elections are over by the end of this April. That’s not again a worrisome. Otherwise we don’t see much problem. Maybe in some finished goods there is the prices are increased like in tiles and all. Some of the goods which are import dependent, which are maximum imports are happening.<\/p>\n

But again we look see it as a temporary. Temporary thing because of this event which is going on. We are all waiting to. Waiting and watching it I think. But that is not for a real estate in Mumbai. Like our average selling price would be more than 25 30,000 rupees a square feet. That way for us even if construction cost goes up by let’s say 2% or 3% should not impact our profitability to that extent. So. And we consider this is very temporary. So we have very particular in buying our raw materials.<\/p>\n

Like when what is required immediately only that much we are buying because we see those sensitive materials obviously not to buy right now. Okay. But definitely there is some problem in some certain supply chain.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

But no short. Kindly<\/p>\n

Operator<\/strong><\/p>\n

Come back in the queue for follow up questions.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question from line of Rashid Shah from Access Capital. Please go ahead.<\/p>\n

Prashant Chaubey<\/strong><\/p>\n

Hi. Hi. Thanks for the opportunity. So two questions from my end. So firstly on the deliveries from the PNL angle what kind of deliveries or completions are we targeting for FY27.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

You would like.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi Richit. In terms of delivery in. In the. In the coming financial year we are looking at our project at Suntec One World in. In Nigao. So that project will come up for delivery and along with that all the ready inventory which is there. From there also revenue recognition will happen.<\/p>\n

Prashant Chaubey<\/strong><\/p>\n

Fair enough. And on the leading side. So on the fifth Avenue that is commercial part. So have we started on working on the construction of it?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So Rishi Fifth Avenue constructions we are looking to start very soon. Most of the approvals are in place. That’s why first we wanted to launch our residential tower in the fifth Avenue which is. We did recently Altavia and we got a good response. And for the commercial bit now the approvals almost we are through with most of the approvals and very soon you will see this construction starting now<\/p>\n

Prashant Chaubey<\/strong><\/p>\n

Just a follow up. How is the contribution from Fifth Avenue this quarter or maybe in the second half? Yeah,<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So I said we got a very good response and I would not be able to give you immediately the split. But I kept giving you which we considered in as a premium segment. In the premium segment this quarter we have done up close to 370. Approximately 370 crore sales. And quite a bit has come from that.<\/p>\n

Prashant Chaubey<\/strong><\/p>\n

If I can just add one more question. Any guidance that you would like to give for FY27 and the pre sales.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So FY27. See we remain very confident of sustaining similar growth. I can say so whatever we have done done right now growth in terms of growth percentage we will maintain that momentum very easily in coming year for sure. And with improved margins also because of our. Because of the prices have gone up and whatever we have booked right now till now the profitability that was from the historic sales. And now going forward we’ll have only better margin. Margins. Better and better margins.<\/p>\n

Prashant Chaubey<\/strong><\/p>\n

Perfect. Thank you.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Thank you. We have the next question from line of Abhinav Sinha from Jeffries. Please go ahead.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Hi Abhinav.<\/p>\n

Operator<\/strong><\/p>\n

Mr. Abhinav, can you hear us?<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

Yeah, hi, can you hear me now?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yeah, we can hear you. Yeah, yeah.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

But on pre sales just following up on the previous one. Do you expect similar growth comment that you have given even X of Dubai?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yes, 100% confident that we irrespective of Dubai launch happening or not happening, we are seeing a similar growth because hence we are preparing ourselves to do more launches. And we are very confident that we’ll maintain our growth. Maintain our growth.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

Okay. And you said that maybe the footfalls are down a little but conversions are flat. So do you think the first quarter could be a little soft and most of this growth will be in the later part of the year?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

No, I don’t think so. So I said only one month we saw this. But because we can see that it’s a peak of the event, especially in the uber luxury and the premium luxury people would definitely like to wait and watch only due to that maybe some drop in conversion or a footfall. But otherwise if you see the quarter we have done in fact the best in only in that segment. That’s why I continue to maintain the bullishness in the premium luxury segment and the Uber luxury segment.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

Okay,<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Go ahead. Yeah.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

No, so on the Napian SeaWorld project, I mean the site appears to be shaping up quite well, you know, with the progress that we now see on ground. I just wanted to get a check on, you know, how large you think this can become. And do you think a proper RERA and plans can be, you know, floated and approved this year in FY27?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yeah, 100%. We are in fact you will see everything happening maybe in this first two quarter itself coming first two quarters. And you will see action on the construction site also. Construction site also. We’ll start the construction on the Bhagyasara plot, the first phase. And we are very confident on that. We are very, very confident on that.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

Okay, so finally on the Andheri JP Nagar project. So are you thinking of this as a commercial or a residential right now?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So it will be, I mean a slight early to mention that whether it will be residential or commercial. But we are definitely exploring both residential or commercials if it’s located because just off one Vericula Road and Sahar Road, very near to the international market. So. So in fact it has a great opportunity for commercial rentals. So that is making us feel looking at a strong balance sheet. We would like to also increase our rental portfolio. At the same time we are seeing the good residential demand in that location.<\/p>\n

So we are slightly in two minds. But we will take this decision in next 15 days and we will start accordingly. And we are quite confident at least we’ll break the ground in Q1 or maximum Q2 itself at Anderi JB Nagar project.<\/p>\n

Abhinav Sinha<\/strong><\/p>\n

Great sir, thanks. And all the rest.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question from the line of Harsh from Motila Roswell. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thanks for the opportunity. So my first question is on the pre sales. So what is the contribution that is coming from the BKCI NAP and C projects.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So harsh in Q4 if you look at the full 12 months uber luxury segment we are and, and we, we are giving a mix of uber luxury and the commercial. So in uber luxury we have definitely two projects which is BKC and an APNC node project. And so in Q4 the sales has been total put together is 609 crores. And in 12 months if you see it is close to 1500 crores.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, this 609 crores. Would it be possible to give a breakup between BKC and apnc? So I can<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Keep you the breakup if you want. I will. You can. Prashant, will you, you, you, you send the query. We’ll give you the detailed breakup on both the porta projects because this includes some portion of the commercial as well. So all three breakup. Prashant will be able to share with you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. So yeah, that’s it from my side. Yeah.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question. Blind of Puneet from hsbc. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes. So just on the follow up there is no shortage of material that you are facing. Right. I mean that’s. I wanted to solve that<\/p>\n

Kamal Khetan<\/strong><\/p>\n

It’s shortages. So we have some of the finished good materials. So we are not fortunately in many projects where the finishing. Except the one world where it’s going on. There is. There is absolutely no shop shortage in terms of cement or ski or RNC or the sand or a brick or those kind of things. So we don’t see any construction delays or construction price rise because of that too much only where the project is completing. We don’t want to wait maybe there something which is not available where we are finding it slightly difficult to source.<\/p>\n

But otherwise it is not that bad. The problem which is perceived as the problem which is like people are that believing that much.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Right. And. And while I appreciate on Dubai you have no debt and. And land cost to GDV is quite healthy. How much have you invested in Dubai so far?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So exact number I will be. I’ll give you so just to mention for the launch. So when. When we bought this land. So I’ll just give you a. A glimpse to make you understand. We have. We have partnered with the landlord at Dh385 million. Dh385 million. And that those days we have sent Dh70 million to Dubai. Only Dh70 million. And that’s to become a 50 partner in the Dh385 million property. And that 70 million was transferred from Suntec at the price approximately what I remember was close to 12 rupee to a dirham.<\/p>\n

12 rupee. So that 12 rupees today almost more than 24 rupee to the dirham. And that 385 million dirham was valued today. If we value the land today. Today’s market it is Dh1.6 billion. So even if I give you a rough estimate so 7. We are 50% 50% of the economic interest in the project from 70 million of the investment today. Even if I consider a land value of 1.6 billion it is 800 million. So 10x and plus the currency benefit which I which Suntec has transferred at 12 rupee to Adiram or 13 rupees to Adiram which is now today 24 to 25.<\/p>\n

So we are talking about 20x of the investment done by Suntech. Yeah, but. But your investment is only to<\/p>\n

Unidentified Participant<\/strong><\/p>\n

The extent of. Yeah. Your book investment is only<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Transferred in the current year for the launch to. We were almost launch ready that additional amount for the. How much is that payment? And so that exact number I will not have right now. If you want you can send the Query. We’ll give it to you the exact, exact number.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yeah. Prashant can share. Wait one second. Prashant can share. So.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi Puneet. We have invested approximately 60 million dirhams.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. So 70 plus 60 more. Right. That’s all?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes, yes, yes,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

That’s. Thank you. Current.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Yeah,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Current year.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, got it. Thank you so much. All the best. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Yeah, thank you. We have the next question line of Akash Gupta from Nomura. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi. Am I audible?<\/p>\n

Operator<\/strong><\/p>\n

Yes, we can hear you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi sir. Congrats on the great results. So basically I. I heard your commentary. It was fairly strong and you are guiding roughly similar PCs growth in FY27 versus the industry thinking, I mean investors thinking that there will be a real estate slowdown. My question to you is what’s driving this very strong demand for real estate according to you, even in FY27?<\/p>\n

Kamal Khetan<\/strong><\/p>\n

I feel it’s obviously what we are seeing is wherever we are doing, it’s obviously an end user demand and it is more like at the cost of reputation. I think this is the fourth time I’m saying I’m seeing this demand also picking up. It was always there in for last few years we have seen post Covid the demand was very good in uber luxury and premium luxury. Again we have now the positive side we are seeing is the demand picking up in the expiration and luxury as well as so so you know we have most of our projects are very large projects.<\/p>\n

So if this demand continues irrespective of even although we have done new acquisitions where we’ll be doing new launches apart from releasing more inventory and more launches in the existing project, we are very, very confident about our growth of whatever, whatever we have done in the current year. 6 Similar growth of 25% in the coming year as well. The reason is also one move which is very big positive. We are confident again of getting the RERA and starting the construction in in the current year at the Nipan Sea Road which will also give us a big boost.<\/p>\n

And we have a very low base and we need to sell very fewer unit compared to other developers I feel and aspirational luxury has become better. So all these points gives me makes us feel more confident while giving this guidance.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood sir. And my last question is that how much incentives are we giving like to customers, I mean to induce this demand in the sense that are we offering like payment plans, very aggressive payment plans to customers or we are giving heavy discounts? Is that the scene? Or we don’t have to do anything to induce demand.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

So I think if you see, very frankly, that’s why we are, I say that we have a strong cash flows and we are confident we don’t give any. And we are saying we will get a better margins in currency and it’s business as usual. In fact, it’s business as usual. There is absolutely no discounts. If there is a discount then I would not be able to give a better margin coming year for sure. Everything is as usual.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood sir, Very clear. Thank you so much and all the best.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

Thank you. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen. That was the last question for today. I now have the conference over to Mr. Kamal Ketan for closing comments.<\/p>\n

Kamal Khetan<\/strong><\/p>\n

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 strengthening, strengthening this relationship. Thank you once again,<\/p>\n

Operator<\/strong><\/p>\n

Thank you on behalf of Suntech Realty limited that concludes this conference. Thank you for joining us. And you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Sunteck Realty Limited (NSE: SUNTECK) Q4 2026 Earnings Call dated Apr. 22, 2026 Corporate Participants: Kamal Khetan \u2014 Chairman & Managing Director Unidentified Speaker Prashant Chaubey \u2014 Chief Financial Officer Analysts: Pritesh Sheth \u2014 Analyst […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089,14960],"class_list":["post-181752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings","tag-sunteck"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":143114,"url":"https:\/\/alphastreet.com\/india\/sunteck-realty-limited-q3fy23-earnings\/","url_meta":{"origin":181752,"position":0},"title":"Sunteck Realty Limited Q3FY23 Earnings","author":"Karan_Singh","date":"March 1, 2023","format":false,"excerpt":"A estate developer located in Mumbai, Sunteck Realty Ltd is dedicated to creating upmarket residential and commercial buildings within the Mumbai Metropolitan Area. 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