Sunteck Realty Limited has informed the Exchange regarding Change in Auditors of the company.
SUNTECK · price
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Awaiting price reaction for this filing.
Sunteck Realty's board, meeting on May 2, 2025, approved audited FY25 consolidated results showing strong growth — total income rose to Rs. 902.68 crore (up ~46%) and net profit more than doubled to Rs. 150.32 crore vs Rs. 70.03 crore in FY24, with basic EPS of Rs. 10.26 (vs Rs. 4.99). The board recommended a final dividend of Rs. 1.50 per share (150% on face value of Re. 1), subject to shareholder approval. It also approved an enabling resolution to raise up to Rs. 2,250 crore (Rs. 1,500 crore via non-convertible debt and Rs. 750 crore via equity-linked instruments) through QIP, FPO, rights issue, or other modes. Walker Chandiok & Co LLP (Grant Thornton) was re-appointed as Statutory Auditor for a second five-year term, and Mr. Veeraraghavan N. was appointed as Secretarial Auditor for FY26–FY30. Separately, Chairman & MD Kamal Khetan stepped down from the Audit Committee, which has now been reconstituted to comprise only Independent Directors (100% independent).
Strong FY25 earnings with profit more than doubling and a healthy dividend will likely be viewed positively by investors, while the Rs. 2,250 crore enabling fund-raising resolution signals flexibility for future growth or debt refinancing — the actual issuance size and timing will depend on future board/shareholder decisions. The re-appointment of the same auditors (no audit change) and a fully independent Audit Committee should be seen as governance-neutral to mildly positive.