(MENAFN- Adfactors PR) Bengaluru, 09 August 2024: Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL), a leading Pune-based real estate player, with growing presence in Mumbai and Bengaluru, announced its un-audited results for the first quarter ended 30 June 2024.
Operational Highlights – Q1FY25
New area sales Q1FY25 Q4FY24 QoQ Q1FY24 YoY
Value (Rs. crore) 711 743 -4% 701 1%
Volume (million sq. ft.) 0.96 1.03 -7% 0.93 3%
Realization (Rs./sq. ft.) 7,407 7,226 3% 7,545 -2%
*Collections (Rs. crore) 612 592 3% 513 19%
*Collections include contribution from DMA projects
Commenting on the performance for Q1 FY25, Mr. Atul Bohra, Group CEO, Kolte-Patil Developers Limited said,
"In a rapidly evolving real estate industry, we have been persistent in delighting customers with product offerings that enrich their lifestyle resulting in pre-sales of Rs. 711 crore and volumes of 0.96 million square feet for the quarter. Strong execution and timely deliveries resulted in our highest-ever quarterly collections of Rs. 612 crore, marking a 19% year-on-year growth. Sustaining the sales momentum, our flagship Life Republic project in Pune recorded sales volumes of 0.46 million square feet in Q1 FY25.
For the year till date we have launched projects with saleable area of close to 2 million square feet translating into top-line potential of about Rs. 1,500 crore across customer segments. I am glad to share that all the projects are receiving encouraging response from the market. The launches schedule is largely on track and we hope to be able to launch projects with top-line potential of Rs. 8,000 crore during the current financial year.
The underlying structural demand drivers remain strong, as customers continue to favour developers and projects that offer reliability, credibility, and a proven track record. The focus on housing, infrastructure development, and
urban planning is expected to provide sustained support to the housing sector. With a growing project development pipeline, under-borrowed Balance Sheet, a validated governance structure, and a strong brand connect associated with trust, we believe that Kolte-Patil is attractively placed to deliver sustainable growth across the coming years.
Financial Highlights – Q1 FY25
P&L Snapshot (Rs. crore) Q1FY25 Q4FY24 Q1 FY24
Revenue from Operations 340.8 526.4 571.2
EBITDA 27.8 -6.9 91.2
EBITDA Margin (%) 8.2% -1.3% 16.0%
Net Profit (post-MI) 6.2 -27.1 46.0
PAT margin (%) 1.8% -5.2% 8.0%
About Kolte-Patil Developers Limited:
Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL; KPDL), incorporated in 1991, is a leading real estate company with dominant presence in the Pune residential market, and growing presence in Mumbai and Bengaluru. Kolte-Patil is a trusted name with a reputation for high quality standards, design uniqueness, corporate governance, transparency and timely delivery of projects. The company has developed and constructed over 64 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of >28 million square feet across Pune, Mumbai and Bengaluru. The Indian Green Building Council (IGBC) has certified several of the company’s projects. KPDL markets its projects under two brands: ’KoltePatil’ (addressing the mid-income segment) and ‘24K’ (addressing the premium luxury segment).
Consolidating its leadership position in Pune, the company forayed into the Mumbai market in 2013 focusing on society redevelopment projects that have lower capital intensity. The company has signed fourteen projects (two completed, five on going, seven future projects) till date at prime locations across the city.
KPDL has seamlessly navigated varied economic cycles enabled by one of the lowest debt levels in the sector. The Company’s long-term bank debt has been rated ‘A+/Positive’, short-term bank loan facilities as A1 and nonconvertible debentures as A+/Positive by CRISIL.
The Company’s growth trajectory, internal processes and corporate governance practices have benefitted from partnerships with marquee financial institutions like KKR, JP Morgan Asset Management, Portman Holdings, ASK Capital, Motilal Oswal, ICICI Ventures, IL&FS, Planet Smart City and Marubeni Corporation.
Over the years, KPDL has received multiple awards and recognitions including Times Power Brand - Legacy Brand in Real Estate
– Pune 2023, ET Business Awards- Most Iconic Luxury Brand in Real Estate 2022, Residential High Rise Architecture India2021, Asia Pacific Property Awards (IPA), Times Realty, 2021- 22 and Residential High Rise Architecture India2021, Top Challengers 2019-20 by Construction World Global Awards Online,Trusted Brand of the Year, Times Realty Icons - Best Realtor 2019, CNN NEWS18 – Developer of the Year Residential 2019, ET Now – Most Trusted Brand India’s 2019, The Economic Times - The Game Changers of Maharashtra 2018 and Asia’s Greatest Brand 2017 by AsiaOne.
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