Sunteck Realty's Q1FY18 results were above our estimates on all fronts. On a YoY basis, results are not comparable and show a sharp decline of 74.6% on the topline front due to high base effect (strong revenues recognition from Signia Pearl - BKC in Q1FY17). We believe overall results were good considering the challenging demand environment for the real estate industry New bookings rose 69% YoY to | 127.8 crore while collections improved 49% YoY to | 130.5 crore mainly on account of good latent...