In the transforming economic scenario we are constantly learning and innovating oursystems and processes to create a robust business driven by fundamentals that will beresilient to stay ahead of disruptions.
My warm greetings to all of you. FY19 has been a year of the Government's variousattempts to boost real estate demand as the sector needs a stimulus to kick-start growth the latest being its attempt to bridge the gap between ready and under constructionprojects via cut in GST rate from 12% to 5% and from 8% to 1% for affordable housingprojects.
The industry is at an infl ection point; the introduction of major reforms such asRERA GST and Insolvency and Bankruptcy Code are giving way to greater transparency andreassuring customer's trust. As a result a much healthier ecosystem is evolving withinthe sector coupled with ongoing reforms and policies from the Government towardsaffordable housing ease of doing business and speedy completion of infrastructureprojects. Simultaneously the recent lending crisis has led to further consolidation inthe market as stressed developers are looking to deleverage through asset monetization andJDAs opening up many opportunities for organized players like us to make a larger impactin Mumbai Metropolitan Region. In the transforming economic scenario we are constantlylearning and innovating our systems and processes to create a robust business driven byfundamentals that will be resilient to stay ahead of disruptions.
The year gone by saw us achieve various milestones across multiple fronts. Wesuccessfully introduced World' brand into our portfolio with a phenomenal launch ofour aspirational luxury project in Naigaon - Sunteck WestWorld. With our presence nowacross the pricing spectrum complimented by aggressive sales strategy and strong brandrecall we saw success across our various sub-brands and doubled our pre-sales.
I am delighted to report yet another strong performance by your Company. Pre-sales ofyour Company increased by 105% from INR 588 cr in FY18 to INR 1202 cr in FY19.Collections for the year were strong and stood at INR 661 cr growth of 25% in comparisonto FY18. During the year our EBITDA margins increased by almost 200bps to 44% and weposted a strong PAT of INR 241cr. Our long-term credit rating of AA- by FITCH & CAREis fl a testament to our balance sheet strength and prudent cash ow management.
The focus on augmenting our construction execution across board has furthercomplemented our sales momentum. Construction is in full swing at all our ongoing projects- Sunteck City at ODC Sunteck WestWorld at Naigaon Signia Waterfront at Airoli Gilbirdat Andheri Sunteck Icon & Sunteck BKC 51 at BKC Junctions. The progress achieved atSunteck WestWorld reiterates Sunteck's in-house execution capabilities and not only in theuber luxury segment but also in aspirational luxury in terms of both speed and quality.
In the coming year we are geared up and excited for our upcoming launch of futurephases in Naigaon and ODC. Simultaneously we intend to expand our commercial & retailportfolio as the timing seems right - keeping in mind ongoing market dynamics increaseddemand for commercial spaces and with the Government approving REIT listings.
The passion and commitment of our teams helped us garner many external accolades andrecognition during the year. Your Company was included in the prestigious NSE index aswell as in the MSCI India Index. Sunteck Realty also featured in the International BrandEquity amongst the Top 10 Real Estate brands.
At Sunteck Realty Limited we have an eye to capture and deliver the best in the realestate industry. Beyond the Better' depicts our motive to evolve as India's mostpremium and trusted brand with high standards of ethical business practices corporategovernance and product quality. We have continuously challenged our limits and pushedourselves to created landmark projects across our brand portfolio. Our ability to foreseeopportunities across market segments has allowed us to strategically scale-up our businessand create strong and enduring value for all our stakeholders.
I thank you all and the entire Sunteck family our employees customers andpartners for your continued trust and support.
Chairman and Managing Director