The note from Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd summarizing the year gone by for Sunteck Realty and Real Estate Sector for your reference.

  The note from Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd summarizing the year gone by for Sunteck Realty and Real Estate Sector for your reference.

 The journey of the Indian real estate industry in the year 2020 will be remembered for its profound structural and radical impact on the business as a whole. From a gruelling economic slowdown to an unbidden pandemic, Covid-19, the year brought about inimitable changes to the way we live, work and shop.

 Urbanisation came to a halt and reverse migration took place. Living spaces were redefined and work from home got a leg up. Homes became more than dwelling spaces; everyone wanted more room inside than outside. Second homes became primary for many.

 As the lockdown eased and the pandemic lost some of its initial stings, residential buyers returned to the market, demanding more space, better designs and greater connectivity in every sense. Many of these brand-conscious buyers wanted to buy from builders who were financially sound and credible and could complete the project within deadlines, along with the incentives from state governments and easing of home loan rates.

 Some of us in the industry responded with well-designed products that perfectly fit emerging needs and customer profiles, leading to the highest number of residential registrations (in almost a decade) in November 2020. 

 There is a definite urgency among customers to upgrade their living standards, owing to the changing work-life conditions. This has resulted in a faster pick-up of ready-to-move-in inventory of affordable luxury and premium luxury segments. Owing to the unlock India efforts by the government and various stimuli announced for customers, the second quarter of FY21 had been robust for us. Our pre-sales saw substantial growth for Q2 FY21 at Rs 200 crore, up by 98% Q-o-Q and by 96% Y-o-Y as well. Collections have also grown at 117% Q-o-Q to Rs 141 crore for FY21.

 The enhanced interest of homebuyers to purchase a home online and the introduction of a virtual interface has supported the sales growth for affordable to mid-segment residential apartments in 2020. Our digital platform SunteckAer enabled the sales team to grab the attention of the right kind of audiences, including NRIs. The robust digital platform kept the momentum of inquiries and sales unfazed, thereby helped our team to clock the near-normal footfall.