Sunteck Realty Q2 profit climbs to Rs 57.11 crore as revenue grows 27%

Sunteck Realty Limited, the Mumbai-based developer, reported consolidated profit of Rs 57.11 crore for the quarter ended September 30, 2026, compared with Rs 48.97 crore in the same quarter last year. Revenue from operations rose to Rs 320.81 crore from Rs 252.37 crore a year earlier, an increase of about 27 per cent. Profit grew by roughly 16.6 per cent over the period.

The board approved the unaudited standalone and consolidated results for the quarter and the half-year ended September 30, 2026 at a meeting held on October 26, 2026. The results were taken up along with a limited review report from Walker Chandiok & Co LLP, which issued an independent review report on both sets of figures.

Key figures for the quarter and half-year

Net profit for the first half of FY27, covering April to September 2026, rose 20 per cent year on year to about Rs 99 crore, while revenue for the half-year grew 16 per cent to about Rs 512 crore. Half-year pre-sales increased 19 per cent to Rs 1,611 crore. In the first quarter, the company had reported a net profit of Rs 42.27 crore and pre-sales of about Rs 787 crore, with collections rising 17 per cent to Rs 409 crore.

The company moved to the concessional tax regime under Section 115BAA of the Income-tax Act during the period, which led to a one-time tax adjustment in the results.

Items flagged in the auditor review

The auditors drew attention to two matters without modifying their opinion. The first is uncertainty over the recovery of Rs 14.03 crore from a partnership firm that is currently under arbitration. The second is a Rs 17.90 crore receivable from Piramal Sunteck Realty, the company's 50 per cent joint venture, which is tied to a dispute over lease premiums levied by CIDCO. Together the two items total about Rs 31.93 crore. Both matters are pending before the Bombay High Court. Management maintains that the full amounts are recoverable, and earlier filings for the joint venture balance were based on a legal opinion to the same effect.

A year-on-year reference point

The comparable quarter a year ago was supported by strong pre-sales of Rs 702 crore, up 34 per cent at the time, along with collections of Rs 331 crore and the launch of Emaance, the company's luxury brand. That quarter's profit was reported at about Rs 49 crore, with EBITDA near Rs 78 crore at a margin of around 31 per cent.

Borivali West land and the wider footprint

In a separate disclosure dated October 5, 2026, a wholly owned subsidiary acquired about 4.5 acres adjacent to New Link Road in Borivali West, Mumbai. The transaction was made under SEBI Regulation 30 and does not fall under related party rules. Borivali West is a dense residential district with strong road connectivity, which has made it a common choice for housing projects in the western suburbs. The company had earlier secured a 7-acre joint development agreement in the same locality in 2021 for a luxury residential project of about 1 million square feet.

Sunteck describes its portfolio as spanning about 23 million square feet across 25 projects, concentrated in premium and ultra-luxury residential segments. The company was founded in 1981, has delivered 17 residential and commercial projects worth about Rs 9,000 crore to date, and is listed on both the BSE and the NSE. Its projects are spread across BKC, Sion, Borivali, Andheri and Airoli in Navi Mumbai, with its headquarters in Vile Parle East.

What comes next

• An earnings conference call on the second-quarter and first-half FY27 results and business updates is scheduled for October 27, 2026 at 4:00 pm IST.
• The Bombay High Court matters covering the Rs 14.03 crore arbitration recovery and the Rs 17.90 crore CIDCO-linked receivable remain pending.
• For FY27, management reiterated guidance of 25 to 30 per cent growth in pre-sales and collections, made in its first-quarter update.
• The company has indicated a domestic launch pipeline of about Rs 7,000 crore for FY27, excluding its Dubai project.
• Project planning for the 4.5-acre Borivali West land is expected to begin.

Investors will be watching the outcome of the pending court proceedings and how pre-sales momentum carries into the second half of the year, since these will shape the company's earnings and liquidity in the quarters ahead.