Kolte-Patil Developers spurts as sales value grows 22% YoY in Q2

Sales volume rose 5.1% to 1.03 million square feet in second quarter of FY25 from 0.98 million square feet in same quarter previous year.

The company's sales value and sales volume grew 8.3% and 7.29%, respectively, as compared with Q1 FY25.

Realization was at Rs 7,472 per square feet, recording a growth of 16.28% YoY and 1% QoQ due to premium projects at Life Republic (LR) and 24K projects in Baner, Pimple Nilakh and LR driving the increase.

Collections stood at Rs 550 crore, up 16.53% YoY, driven by robust sales and consistent and timely execution of projects. However, collections declined 10.13% on QoQ basis.

Atul Bohra, Group CEO of Kolte-Patil Developers, said, 'I am happy to announce that we have achieved our highest-ever quarterly sales performance, a testament to the market's confidence in our offerings and execution capabilities. Our collections hit an all-time high in the first half of the year, reflecting the strong execution discipline we maintain across projects.

Our 24K premium luxury segment continues to gain momentum, with the 24K segment contributing 30% to our sales in Q2FY25 reflecting the demand shift toward aspirational living. Also, Life Republic township project has seen sustained volumes.

Backed by a strong pipeline of launches planned in the second half of the year, we are confident about meeting our pre-sales target of Rs. 3,500 crore for FY25. With robust industry trends supporting housing demand, especially in premium categories, we remain well-positioned to capitalize on the growing opportunity.'

The Kolte-Patil Developers group is one of the largest residential real estate developers in Pune. The company has a healthy project portfolio of affordable and mid-income, and luxury residential segments through its brands, Kolte-Patil and 24K, respectively, and is expanding its presence in Bengaluru and Mumbai. The company has developed and constructed over 64 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of over 28 million square feet across Pune, Mumbai and Bengaluru.

The company's consolidated net profit declined 86.4% to Rs 6.23 crore on 40.3% dropped in net sales to Rs 340.75 crore in Q1 FY25 over Q1 FY24.