Kamal ji, just one question on the Dubai launch. So while you highlighted that the time line remains uncertain, is there a possibility this project will get launched in this financial or in FY28?

So Harsh, we are very clear that we are -- all the -- as we shared earlier also, we have required all the required regulatory approvals are in place. And the project today remains launch ready. Only the timing of the launch has to be obviously recalibrated due to -- we all know that it's an ongoing situation, and we don't want to launch in such a situation. Just to recap, our land parcel is one of the most prime -- in the prime location next to Dubai Mall in Burj Khalifa Community Downtown Dubai. So that is one very big advantage whenever the markets -- we are almost launch ready. And whenever the market is there, we will immediately launch, but the market is right, I mean to say. And our land cost to GDV is very healthy, and there is no debt on the project. So we maintain that our earlier communication once again that project continues to remain highly profitable irrespective of the situation what we are. And just to bring it to your knowledge, like our investment in Dubai as on today on the project is close to not more than 200 crores, 225 crores. So that is again a very -- and from that kind of investment, we are looking at such a large surplus cash flow, which will be coming out. And we are definitely looking at this cash flow whenever it comes to bring it to India for the growth of it -- again, growth of the company overall.

Understood, sir. That's clear. Coming to your launch pipeline, like you highlighted that you have broken down the GDV in three parts. So to-be launched GDV is close to 16,000 crores. Can you please break down what quantum can be launched in FY27 and FY28 and which would be the key projects here?

So, to-be launched GDV, if you go, that includes obviously 9,000 crores coming from Dubai projects. So if you remove that 9,000 crores, so to-be launched GDV is close to 8,370 or 7,100 crores, sorry, 7,100 crores, close to. And which is like ODC, the additional tower in ODC, our Andheri redevelopment project near Western Express Highway, then what we are looking at Sunteck Park Mira Road 2, Mira Road 1 is already ongoing. So we'll be launching now -- looking to launch the new project, which we have acquired last year. And the Vasai, there will be 1 tower. We recently launched 2 towers, and we are targeting to launch one more tower this year. Then Naigaon, we are looking to launch again 1 or 2 towers. Again, we launched last year. Again, we are launch -- planning to launch this year again. So looking at all these things, if you see, this is all put together is close to 7,100 crores.

Sure. So I believe this entire inventory will come into launch in this financial year?

Yeah. Sorry.

So uncertainty is definitely only related to -- we can talk about Dubai because we don't know how long the situation will be there. Otherwise, all the other projects pipeline, what we are looking to launch this year is close to 7,000 crores, what we are looking to launch.

Understood. And sir, one last question. What is the growth guidance for the presales for this financial year and maybe even for FY28 also, if you can just throw some light?

So looking at the project pipeline, Harsh, we are very confident that we'll maintain -- although this quarter, we have done 20% growth in presales, but we are confident overall in the full year, we will match our -- what we have given the guidance of 25% to 30% growth in our presales. Considering the full year of '27, we'll be at least 25% to 30% higher than the last year. With strong pipeline, we are really very confident about it.

Sure. And any new business development?

I'm sorry to interrupt you, Mr. Pathak, but you may please re-join the queue for questions. Thank you.

Sure. Thanks.

Thank you. Our next question comes from the line of Rishith Shah with Axis Capital. Please go ahead.

Yes. Thank you for the opportunity and good evening sir. So a couple of questions. So first, on the sales mix. So we -- this quarter, we have seen a good increase in the sales coming from affordable segment as well as on the premium side, like ODC, SBR, etc. So I mean, on the aspirational luxury specifically, what led to this growth? And similarly, some views on the premium luxury segment as well?

So aspirational luxury, in fact, obviously, we are seeing the market getting improved because of the -- the reason I feel is aspirational luxury slightly, we feel is picking up because of the lower interest rate and also some sign of recovery somehow we are seeing. And mainly it came -- basically, we see that coming from Naigaon and Kalyan, -- both are now giving, and we are very bullish on now Kalyan picking up more strongly. So obviously, we have a large GDV there. So we want to monetize as early as possible. So we are -- that two projects, obviously, both are in aspirational luxury, only those two. It has come from both the projects. And when it comes to premium luxury, obviously, Sunteck City and Sunteck City in Goregaon and Sunteck Sky Park in Mira Road and the Sunteck Beach Residences, SBR, all three contributed for this 391 crores. And coming quarter, we are again very confident because we'll be launching in this segment, Sunteck Sky Park 2, which is the next acquisition what we have done and also the Tower 2 in Sunteck City, which will be coming. So due to this, we see the growth picking up. And that's why we are confident that we will be able to achieve 25% to 30% growth in our presales for the FY27.

Sure, sir. Just a follow-up. So launch that we had this quarter was just the SBR and nothing in the aspirational segment, right?

So yeah. So this quarter, we didn't do any launch. In spite of this, we could do good aspirational luxury sales.

Perfect. Secondly, I mean, regarding the collections, so how are we looking at the collections overall for this full year? Can you give any guidance? And related to that, anything on the RERA approval for the Nepean Sea project?

So proportionately, obviously, the collection has to grow, and that I made the same remark in my speech also opening speech. And obviously, the bigger collection will start happening once we start the construction of Nepean Sea Road. That will definitely give us a big collection. But if you see trailing months, if you see, our collections are close to 1,500 crores, which is again stronger than the past 12 months. And this will continue to become stronger and stronger, looking at the last few quarters, what we have been doing the presales.

Would you like to attach some number to it for this year?

We'll see a similar growth, I would say, 25% to 30% growth in the presales also. Yeah.

Perfect. Thank you so much.

Thank you. Rishith.

Thank you. Our next question comes from the line of Vasudev from Nuvama Wealth Management. Please go ahead.

Yeah. Thanks for the opportunity sir and congratulations on a good set of numbers. So sir, my first question is, how is our business development pipeline looking like? And in Q1, we had a BD spend of about 170 crores. So for the full year, what is the amount estimated?

So, Prashant, would you like to share?

Hi Vasudev, the 170 crores that we spent in quarter 1 is mainly for Nepean Sea, Mira Road 2 and certain redevelopment projects. So that is where we have spent the 170 crores.

So with this spend, obviously, some has gone into redevelopment and some we have initially given as a token money. So we are -- you will see some good acquisition BD announcements for sure. If you see last year also, it was like our highest spend on BD, what we did more than 800 crores in FY26. And we are looking to, in fact, surpass this number, looking at our strong balance sheet and the markets and what we are already under negotiation or in the advanced stage, we are looking to spend definitely this year also much more than the last year for getting into doing BD, more BD.

So we are -- this year, we are confident one, we will be delivering our project Sunteck OneWorld and maybe some more new floors in 4th Avenue. And there are some more new floors, which will be done on the 1st Avenue. So plus some additional floors even in Pinnacle. So all this will be constructed and delivered within this year. And this will give us additional sales as well from the projects. And this will be a strong cash flow because once we launch the project will be like these are the additional floors. So this will be completed in like three months to six months. So we are looking to monetize all this inventory in this current year itself. So this will be substantial, very large delivery.

Sure sir. That’s it from my side. I will join back the queue.

Thank you. Ladies and gentlemen anyone who wishes to ask a question press star and one. Our next question comes from the line of Jainam Shah with Equirus Securities. Please go ahead.

Yeah, hi. Thanks for the opportunity. So, the first question is on the resolution that Board has approved about the fundraising of around, let's say, INR2,000-plus crores through debt and equity. Is it just...

Sorry, sorry, sorry.

Yes. So will it, is it just an enabling resolution or are we planning for some fundraising in the near term?

So, this is, obviously, enabling resolution. And if you see every year, we take this enabling resolution. So there is, as on today, if you ask me, there is absolutely no planning of any fundraising.

Got it, sir. Sir, just for the clarification, one part on the Dubai project, you said that it's ready for the launch. There is no approval or anything which is pending, right?

Yes. Yes,

So, just wanted to check on the presentation part because in the presentation, the table that you have given in which it has been included in the to-be launched GDV, which is at around INR16,100 crores. And when we read the thing below the same to-be launched GDV, it indicates projects which are under approval process. So has there been any change in the presentation part or there is some approval which is pending? So both things are actually contradicting?

No, no, I appreciate. I think this is slightly we'll have to edit that. I agree, I appreciate your comment. You're totally right. So we should add like, it indicates projects which are to be in the approval process or approved or which are to be launched. You're exact, you’re correct. So I think we'll have to edit that.

Got it, sir. So, on the commercial revenue part, we are seeing this FY29 going up to INR450 crores in the presentation part. So what is the status of the construction for the 5th Avenue ODC as of now and by when it is expected to get delivered?

So 5th Avenue construction has already started residential. And we are, residential has already started. So we are looking to deliver that in three years from now. And you are asking about commercial. So commercial, we are looking to start very soon. And once we start there, we are targeting because it will be a spatial commercial. So we're looking to do complete that in 24 months, 24 months to 30 months.

Got it sir, got it. Yeah that’s it from my side.

Thank you. Thank you.

Thank you. Ladies and gentlemen, due to the time constraint, that was the last question for today. I now hand the conference over to the management for the closing remarks. Thank you, and over to you, team.

Thank you all for taking the time out of your busy schedule to join us today for the call. In case any of your queries have been left unanswered, please feel free to reach out to us. We truly value your continued support and look forward to strengthening this relationship. Thank you.

Thank you so much, sir. On behalf of Sunteck Realty Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.