Sunteck Realty shares: Nuvama retains 'Buy' call, trims target price

Shares of Sunteck Realty Ltd (SRL) closed 0.97 per cent higher at Rs 436.20 on Tuesday, implying a potential upside as per Nuvama Institutional Equities' outlook.

According to the domestic brokerage, Sunteck Realty reported Q2 FY26 pre-sales of Rs 700 crore, up 34 per cent YoY (year-on-year) and 7 per cent QoQ (quarter-on-quarter). Collections for the quarter were Rs 330 crore, up 24 per cent YoY but down 6 per cent QoQ. For H1 FY26, sales and collections stood at approximately Rs 1,360 crore and 610 crore, up 32 per cent and 12 per cent YoY, respectively.

The company maintained its guidance of 30–35 per cent YoY pre-sales growth in FY26E, supported by a healthy launch pipeline including the Nepean Sea Road project, ODC, Vasai and Naigaon. Nuvama highlighted Sunteck Realty's strong balance sheet with a net debt-to-equity of 0.05x as a key positive.

The brokerage, however, noted moderation in the MMR market, raising concerns about future sales growth. Despite this, the overall outlook remains positive due to ongoing projects and solid financials.

Based on these factors, Nuvama has retained its 'BUY' recommendation, trimming the target price to Rs 531 from the earlier Rs 560, factoring in a rollover to Q2 FY28E estimates.

Meanwhile, the stock market remained closed on Wednesday for Diwali Balipratipada.