Sunteck Realty

June 26 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY - INCORPORATES WHOLLY OWNED SUBSIDIARY EMINARA BUILDCON PRIVATE

Source text: ID:nNSE93HYw0

Further company coverage: SUNT.NS

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** Sunteck Realty SUNT.NS shares jump 8.6% to 370.4 rupees

** Real estate developer posted Q4 profit surge of 26.5% Y/Y

** Investec ("Buy", PT 490 rupees) says co's strong balance sheet and low debt give it enough cash to support near-term project launches

** Brokerage expects pre-sales growing at about 27% CAGR over FY26–28 on planned Mumbai Metropolitan Region launches; potential delay in Dubai project to FY28 due to geopolitical risks

** Trading volume at 1.3 mln shares, about 4x 30-day average

** SUNT rated "strong buy" on avg by 12 analysts, median PT 555 rupees - data compiled by LSEG

** YTD, stock down nearly 14%

($1 = 93.4875 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

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April 21 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• MARCH-QUARTER CONSOL NET PROFIT 637.5 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.39 BILLION RUPEES

• RECOMMENDS FINAL DIVIDEND OF 150% OF 1.50 RUPEE PER SHARE

Source text: [ID:]

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Jan 27 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY DEC-QUARTER CONSOL NET PROFIT 582.2 MILLION RUPEES

• SUNTECK REALTY DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.44 BILLION RUPEES

Source text: ID:nNSE3Q4yPf

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Oct 16 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SEPT-QUARTER CONSOL NET PROFIT 489.7 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.52 BILLION RUPEES

Source text: [ID:]

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July 23 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY LTD - ENTERS JOINT DEVELOPMENT AGREEMENT IN MUMBAI

• SUNTECK REALTY LTD - EXPECTS 550,000 SQ FT SALE COMPONENT

Source text: ID:nBSE3y08Dg

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March 26 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• TO INVEST USD 10 MILLION TO USD 20 MILLION IN SUNTECK LIFESTYLE INTERNATIONAL

Source text: [ID:]

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March 7 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• INCORPORATES WHOLLY OWNED SUBSIDIARY ASTRICA REALTORS

Source text: ID:nBSE6vHHbj

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** Shares of Sunteck Realty SUNT.NS jump 8.2% to 533.25 rupees

** Real-estate firm reported Q3 consol net profit at 425.2 mln rupees (about $5 mln) vs loss 97.2 mln rupees a year ago

** Its pre-sales grew 40% y/y, rev from ops jumped four-fold to 1.62 bln rupees

** Over 887,000 shares traded in first 10 mins of trading, already set for busiest trading session since mid-Oct

** Analysts' avg rating on stock is "strong buy", median PT is 732.5 rupees - LSEG data

** Stock gained ~14% in 2024

($1 = 86.3525 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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Jan 20 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY DEC-QUARTER CONSOL NET PROFIT 425.2 MILLION RUPEES

• SUNTECK REALTY DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 1.62 BILLION RUPEES

Source text: ID:nBSEbF1klq

Further company coverage: SUNT.NS

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** Shares of Sunteck Realty SUNT.NS rise as much as 8.7% to 602.75 rupees

** Real estate developer's pre-sales and collections in Q2 rise 32.7% Y/Y and 24.8% Y/Y, respectively

** Stock on track to snap three straight sessions of losses

** SUNT rated "strong buy" on avg, its median PT is 701 rupees - LSEG

** Stock last up 8%, taking YTD gains to 34.3%

(Reporting by Ashish Chandra in Bengaluru)

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Oct 14 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY - COLLECTIONS IN Q2 FY25 UP 24.8% ON Y/Y

• SUNTECK REALTY - Q2 PRE-SALES UP 32.7% Y/Y

Source text for Eikon: [ID:]

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** Shares of Ajmera Realty & Infra India AJME.NS rise 5.2% to 666 rupees, set for best day in over four months

** Real estate developer reports 20% YoY growth in Q2 collections and sales value rose 1% YoY

** Busiest session for the stock in about two weeks; more than 48,000 shares change hands as of 12:08 p.m. IST

** Stock up ~64% so far this year, set for fifth straight year of gains

** YTD, peer Sunteck Realty SUNT.NS up ~27%

(Reporting by Dimpal Gulwani in Bengaluru)

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Aug 14 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• JUNE-QUARTER CONSOL NET PROFIT 227.8 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.16 BILLION RUPEES

Further company coverage: SUNT.NS

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Aug 13 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• DUBAI PROJECT JV PARTNERS TO WITHDRAW ALL EXISTING LEGAL DISPUTES

• TO START DEVELOPMENT OF DUBAI PROJECT UNDER SUNTECK MAS REAL ESTATE DEVELOPMENT

Source text for Eikon: ID:nBSE5xdN5s

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Updates

** India's Nifty realty index .NIFTYREAL adds ~1.5%, extends gains into second straight session

** India eases new property tax rules to now allow individuals to also opt for property sales with indexation benefits, or for new rule of sales without indexation benefits

** Before the 2-day rally, realty stocks slid ~9% in 10 sessions since new rule was made mandatory in budget on July 23

** The rally cuts losses since budget day to ~7%, while benchmark Nifty 50 .NSEI has dropped ~1%

** All 10 realty index members trading higher, led by DLF's DLF.NS 2.7% increase

** "Move offers flexibility to property sellers and is likely to stimulate investment and sales in the housing market by potentially reducing the tax burden on sellers," says Shishir Baijal, chairman and managing director at Knight Frank India

(Reporting by Hritam Mukherjee and Bharath Rajeswaran in Bengaluru)

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Updates

** India's Nifty realty index .NIFTYREAL reverses early gains to trade 3.2% lower, on track for worst day since June 4

** Government cuts long term capital gains tax (LTCG) on property sales to 20% (with indexation) to 12.5% (without indexation)

** Indexation allows raising the purchase price of an investment to adjust for inflation, which would mean a lower profit at sale, leading to lower taxes

** The indexation removal could lead to higher taxable gains, especially for properties held for a long time, said Amit Maheshwari, tax partner at AKM Global

** DLF DLF.NS fall 4.5%, while Brigade BRIG.NS, Macrotech MACE.NS and Godrej Properties GODR.NS drop 3.5%-4%

** Realty stocks had risen earlier after the government allocated 10 trln rupees ($119.6 bln) in urban housing boost

($1 = 83.6410 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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Repeats story published on July 19 with no changes to text

By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

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By Bharath Rajeswaran

BENGALURU, July 19 (Reuters) - India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities.

After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas.

While that could benefit consumer goods makers, real estate and housing finance firms as well as infrastructure and auto companies, some sectors could also stand to lose, said brokerages.

Here are some of their winners and losers.

RURAL-LINKED SECTORS

The government is expected to allocate more funds for rural schemes to stimulate consumption, aiding consumer goods makers like Hindustan Unilever HLL.NS and two-wheeler makers like TVS Motor TVSM.NS and Hero MotoCorp HROM.NS, according to Citi.

A less than 5%-7% increase in tobacco taxes could be a positive for ITC ITC.NS, the country's largest cigarette maker, according to Jefferies.

REAL ESTATE

The government is likely to allocate more funds for affordable housing, benefitting developers such as Macrotech Developers MACE.NS and Sunteck Realty SUNT.NS, Citi said.

Moreover, the introduction of an interest subsidy scheme for urban housing would boost financiers like Aavas Financiers AVAS.NS and Home First Finance HOME.NS, said Jefferies.

AUTOMAKERS

India doled out subsidies worth 115 billion rupees ($1.38 billion) over five years to drive the adoption of electric vehicles (EVs) and Macquarie expects the government to retain both the quantum and tenure in its latest scheme.

That could benefit Tata Motors TAMO.NS, India's top e-car maker, as well as IPO-bound e-scooter maker Ola Electric and e-bus makers Olectra Greentech OLEC.NS and JBM Auto JBMA.NS.

Conversely, lesser-than-expected EV subsidies could benefit Maruti Suzuki MRTI.NS, India's highest-selling car maker and one that has chosen to make hybrid cars over pure EVs.

MANUFACTURING

The push on production-linked incentive schemes, which incentivises local manufacturing and creates jobs, is expected to continue, according to HSBC.

That will help manufacturers of technology hardware, telecom equipment, electronics and medical devices among others, like Dixon Technologies DIXO.NS, Ideaforge Technology IDEF.NS, Biocon BION.NS.

Capital goods companies like Larsen & Toubro LART.NS and infrastructure firms could benefit from the likely rise in capital expenditure in the budget, according to Jefferies.

TRADING

Any change in capital gains tax -- either by raising the holding period or tax rate -- could be a dampener for equities, Morgan Stanley said, though it says such moves are unlikely.

But, if enacted, they would increase the tax burden on equity and mutual fund investors, eroding the tax advantage they enjoy over investors in other asset classes.

It could also lead to lower trading volumes, weighing on brokerages Motilal Oswal MOFS.NS, ICICI Securities ICCI.NS, Angel One ANGO.NS, 5 Paisa PAIS.NS among others.

The country's mutual fund association has petitioned that mutual fund units be exempted from long-term capital gains tax.

The government and regulators also want to rein derivatives trading -- which has largely powered the stock market's rally since the COVID-19 pandemic -- calling it risky and speculative.

Any move to do so, such as through higher taxes, will not only weigh on the market but also reduce trading volumes and in turn, affect brokerages and trading platforms, Jefferies said.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

(([email protected]; +91 9769003463;))

July 12 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY - Q1 COLLECTIONS UP 18.8% Y/Y

• Q1 Pre-Sales Up 29.7% On Y/Y

Source text for Eikon: [ID:]

Further company coverage: SUNT.NS

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May 24 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY LTD - TO CONSIDER ENABLING RESOLUTION FOR RAISING OF FUNDS

Source text for Eikon: ID:nBSE2Wxf8T

Further company coverage: SUNT.NS

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** Shares of Sunteck Realty SUNT.NS up ~2% at 435 rupees, among top gainers on realty index .NIFTYREAL

** SUNT Q4 pre-sales jump ~26%, taking FY24 pre‐sales up ~20%

** Stock set to snap four consecutive sessions of losses

** SUNT only 'strong buy' rated stock in 10-member realty index, per LSEG data

** Analysts median PT is 565 rupees - LSEG data

** Stock down 2.5% YTD vs realty index's 20.8% climb

(Reporting by Rama Venkat in Bengaluru)

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April 16 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• PRE‐SALES GREW BY ABOUT 26% Y/Y IN Q4 FY24

Source text for Eikon: ID:nBSE3kDYWj

Further company coverage: SUNT.NS

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** Shares of Sunteck Realty SUNT.NS rise as much as 2.3% to 440.05 rupees, last up 1.4%

** Real estate developer expands its annuity income business as it enters an agreement with Bennett, Coleman & Co for its building at Sunteck Icon

** Sunteck Icon to generate a rev of close to 20 billion rupees (nearly $240 million) over 29 years

** SUNT on track for third consecutive session of gains

** More than 440,000 shares change hands, nearly same as the 30-day avg

** Ten analysts covering the stock on average have a "strong buy" rating; median PT is 565 rupees - LSEG data

** Stock down ~2% YTD, had gained 35% in 2023 for best yearly gains since 2021

($1 = 83.4275 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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April 2 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK REALTY LTD - EXPANDS ITS ANNUITY INCOME BUSINESS

• SUNTECK REALTY LTD - CO GIVES BUILDING AT BKC JUNCTION, SUNTECK ICON TO BENNETT, COLEMAN & CO FOR LONG TERM TENURE

• SUNTECK REALTY - ENTERS LONG TERM AGREEMENT OF ITS SECOND PREMIUM COMMERCIAL BUILDING AT BKC JUNCTION TO BENNETT, COLEMAN & CO

• SUNTECK REALTY - AGREEMENT TO GENERATE A REVENUE OF CLOSE TO 20 BILLION RUPEES OVER TENURE OF 29 YEARS

Source text for Eikon: ID:nBSE1hkg8r

Further company coverage: SUNT.NS

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March 4 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• PROJECT RECEIVES FINAL EDGE GREEN BUILDING CERTIFICATION FROM IFC, WORLD BANK GROUP

Source text for Eikon: ID:nNSE1Brzh5

Further company coverage: SUNT.NS

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** Shares of real estate developer Sunteck Realty SUNT.NS up 1.71% at 469.15 rupees

** Brokerage Investec says co's upcoming project launches in Mumbai Metropolitan Region (MMR) to aid pre-sales growth in coming quarters

** Expects unsold projects in commercial hub Bandra-Kurla Complex BKC to start to see pickup in sales

** Says co's rental income from commercial properties expected to improve 8x-9x to 3 bln rupees ($36.2 mln) in next 3 yrs

** Hikes SUNT's target price to 640 rupees from 560 rupees, retains "buy"

** SUNT's 9x P/E ratio relatively "attractive" vs MMR-focussed peers Mahindra Lifespace Developers' MALD.NS 20.6x and Keystone Realtors' KEYS.NS 17.6x - Investec

** All 10 analysts rating stock recommend "buy" or higher, median TP is 565 rupees - LSEG data

** YTD, SUNT up 5% vs ~13% rise each in MALD and KEYS

($1 = 82.9881 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Sunteck Realty SUNT.NS up 4.5% at 479.50 rupees

** Real-estate developer said it will enter two locations in Mumbai, Nepean Sea Road and Bandra Bandstand

** Adds, the gross development value (GDV) of these projects is over 30 bln rupees ($360.92 mln)

** Co has more than doubled its GDV from 125 bln rupees in FY2022 to 301 bln rupees in FY2024 - SUNT

** Analysts' avg rating on SUNT is "strong buy", while rival Sobha SOBH.NS has "buy"; Godrej Properties GODR.NS and Oberoi Realty OEBO.NS are at "hold"

** Six out of nine analysts tracking SUNT have hiked PT in January - LSEG

** SUNT's median PT is 563 rupees, 17.4% higher than current market price - LSEG

($1 = 83.1210 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Jan 29 (Reuters) - Sunteck Realty Ltd SUNT.NS:

• SUNTECK TO ENTER POSH LOCATIONS AT NEPEAN SEA RD AND BANDRA‐ BANDSTAND WITH GDV OF OVER 30 BILLION RUPEES

Source text for Eikon: ID:nNSE2Npx84

Further company coverage: SUNT.NS

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