Sunteck Realty Stock: The shares of Suntech Realty, a real estate firm, could rise by up to 42 percent. Jefferies expects this. Jefferies raised the target price for the stock from Rs 690 per share to Rs 700, while maintaining the “buy” rating.
The new price is 42 per cent higher than the price of shares on BSE 13 November. Suntech Realty has been credited with a strong sales performance and a solid balance sheet by the brokerage firm.
Brokerage believes they will support long-term growth of the company. Suntech Realty shares rose sharply on the 14th of November. Stock opened at 500 Rupees, with an early lead on BSE.
The stock then rose to Rs 515, a 5 percent increase over the previous close price.
10% cheaper in a week Sunteck Realty
Suntech Realty’s shares have risen by 19 percent in the past six months. In just one week, the price dropped by 10 percent. As of the end September 2024, the promoters owned 63.24 per cent of the company.
The BSE upper price band is Rs 589.60, with a circuit limit of 20 percent.
Profits increased by 348% during Q2
Suntech Realty’s quarterly net profit increased by 348 percent, to Rs 35 crore. Revenue increased 578 percent from Rs 169 crore a year ago. Pre-sales also increased by approximately 33 percent, to Rs 524 cr.
The 2024 quarter saw a collection increase of about 25 percent, to Rs 267 cr.
The company’s diverse city-centric development portfolio spans 52.5 million sq. ft. across 32 projects. All 11 brokerages that cover Suntech Realty have maintained the “by” rating.
Quick Fact
| Company name | Sunteck Realty |
|---|---|
| Possible target price | ₹700 |
| Expected potential rise | 42% |
| 6-month share increase | 19% |
| 1-week share decrease | 10% |
| Promoter ownership | 63.24% |
| Q2 net profit | ₹35 crore |
| Q2 net profit increase | 348% |
| Q2 revenue | ₹169 crore |
| Q2 revenue increase | 578% |
| Q2 pre-sales | ₹524 crore |
| Q2 pre-sales increase | 33% |
| Q2 collection | ₹267 crore |
| Q2 collection increase | 25% |
| Development portfolio | 52.5 million sq. ft. across 32 projects |
| Brokerage rating | “Buy” by 11 brokerages |
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