Stories
Kolte-Patil Developers Shares Surge Following Record Q2 Sales and Launch Performance
- •Kolte-Patil Developers reported a 52% year-on-year increase in sales value to ₹1,019 crore for the September quarter, marking its highest-ever quarterly sales.
- •Realizations for the quarter stood at ₹7,829 per square foot, remaining stable compared to the previous year.
- •Collections grew by 33% to reach ₹795 crore during the quarter compared to the same period last fiscal.
- •The company achieved its strongest-ever launch performance with the 'Vyana at The Reserve' project in Vadgaon, Pune, generating ₹616 crore in sales from approximately 1 million square feet.
- •CEO Hrishikesh Parandekar highlighted favorable long-term fundamentals in India's residential real estate market despite near-term demand softening in Pune.
Key Questions Answered
For the September quarter, Kolte-Patil reported its highest-ever quarterly sales value of ₹1,019 crore, marking a 52% increase from the previous year. Additionally, the company's collections rose by 33% to reach ₹795 crore compared to ₹596 crore in the year-ago period.
Kolte-Patil achieved its strongest-ever launch performance by introducing approximately 1 million square feet at the "Vyana at The Reserve" project in Vadgaon, Pune. This project alone generated record sales of ₹616 crore for the company.
CEO Hrishikesh Parandekar noted that while near-term demand has softened across the broader market, particularly in Pune, India's long-term residential real estate fundamentals remain favourable due to urbanization and rising aspirations. He also highlighted that the sector is seeing consolidation which benefits established developers.
