The real estate major was back in black in Q4FY24 by delivering net profit of Rs 101.3 crore as against net loss of Rs 27.9 crore in the year-ago period
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The brokerage firm has initiated its coverage on the realty stock with a ‘Buy’ rating and a target price of Rs 640, indicating an upside potential of over 30 per cent. The stock was trading at Rs 493.15 on BSE at 14:02 hours.
Sunteck Realty also also signed a pact with IFC (International Finance Corporation) to create a joint platform with a total investment of up to Rs 750 crores.