Highest-ever annual sales value of Rs. 2,822 crore; 26% YoY growth
Highest-ever annual sales volumes of 3.92 million sq. ft.; 20% YoY growth
Highest-ever collections of Rs. 2,070 crore
Launched projects with GDV of Rs. ~3,800 crore during FY24
PUNE, APRIL 12, 2024 (TGN): Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune based real estate player with growing presence in Mumbai and Bengaluru, has announced key updates on its real estate operations during the quarter and full year ended 31st March 2024.
| New Area Sales | Q4FY24 | Q3FY24 | QoQ | Q4FY23 | YoY | FY24 | FY23 | YoY |
| Volume (million sq. ft.) | 1.03 | 0.98 | 4% | 0.97 | 6% | 3.92 | 3.27 | 20% |
| Value (Rs. crore) | 743 | 746 | – | 704 | 6% | 2,822 | 2,232 | 26% |
| Realization (Rs. /sq. ft.) | 7,226 | 7,579 | -5% | 7,225 | – | 7,193 | 6,817 | 6% |
| Collections (Rs. crore) | 592 | 493 | 20% | 589 | 1% | 2,070 | 1,902 | 9% |
Summary of operational performance:
| New Area Sales | H2FY24 | H1FY24 | HoH | H2FY23 | YoY |
| Volume (million sq. ft.) | 2.01 | 1.91 | 5% | 2.10 | -4% |
| Value (Rs. crore) | 1,489 | 1,333 | 12% | 1,420 | 5% |
| Realization (Rs./sq. ft.) | 7,397 | 6,979 | 6% | 6,748 | 10% |
| Collections (Rs. crore) | 1,085 | 985 | 10% | 1,024 | 6% |
Collections include contribution from DMA projects
- Achieved highest ever annual sales value of Rs. 2,822 crore during FY24 marking a growth of 26% YoY
o Launched projects with a total GDV of Rs. 3,800 crore across projects in Pune and Bengaluru
o New launches contributed around ~63% to the total pre-sales value for FY24
o Contribution from the 24K projects across Pune led to improved realizations for the year
o KPDL’s flagship project, Life Republic Integrated Township, recorded robust annual sales volumes of 2.3 million sq. ft., marking the highest-ever annual sales achieved
- In Q4 FY24, recorded quarterly pre-sales of Rs. 743 crore, resulting in a 6% YoY growth
o KPDL’s flagship project, Life Republic Integrated Township, achieved sales volumes of ~6.4 lakh sq. ft during Q4
Commenting on the performance, Mr. Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “The residential real estate segment witnessed an unprecedented surge during the year driven by various factors including rising disposable incomes and increased affordability, strong economic growth resulting in increasing consumer confidence, policy reforms and stable interest rates empowering buyers to invest in their dream homes. FY24 has been a significant year for Kolte-Patil Developers, characterized by highest ever sales of Rs. 2,822 crore and volumes of 3.92 million sq. ft. and highest ever collections of Rs. 2,070 crore. Our strategic focus on lifestyle-centric residences, particularly our ’24K’ brand projects across Pune, have yielded encouraging response, with a noticeable uptick in customer demand. The continued success of our flagship project, Life Republic, where we sold 2.3 million sq. ft. in FY24, is an outcome of reimagining the township as a response to evolving customer needs and markets dynamics.
As we progress, our focus remains on delivering exceptional value to our customers and responding adeptly to ensure sustainable growth. We are confident that our ongoing efforts will bolster our position in key operating markets of Pune, Mumbai Metropolitan Region (MMR), and Bengaluru. As we enter the new financial year, we remain committed to establish new benchmarks, maintain our business momentum, and elevate standards within our industry.”
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 58 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of >26 million sq. ft. 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: ’Kolte-Patil’ (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 fifteen projects (two completed, five on going, eight 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 Asia’s Greatest Brand 2017 by AsiaOne, The Economic Times – The Game Changers of Maharashtra 2018, Times Realty Icons – Best Realtor 2019, CNN NEWS18 – Developer of the Year Residential 2019, ET Now – Most Trusted Brand India’s 2019, Top Challengers 2019-20 by Construction World Global Awards Online,Trusted Brand of the Year, Times Realty, 2021- 22 and Residential High Rise Architecture India2021, Asia Pacific Property Awards (IPA).
For more details on Kolte-Patil Developers Ltd., visit www.koltepatil.com.
