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Last Updated : Sep 25, 2017 11:49 AM IST | Source: CNBC-TV18

Expect H2FY18 to be better than H1FY18: Kolte-Patil Developers

In Q1, Kolte Patil saw decent revenue and profit growth but saw 800 bps hit in margins due to higher costs while cash flows and pre sales were also weak. In an interview to CNBC-TV18, Gopal Sarda, Group CEO of Kolte-Patil Developers spoke about the latest happenings in his company and sector.

In Q1, Kolte Patil saw decent revenue and profit growth but saw 800 bps hit in margins due to higher costs while cash flows and pre sales were also weak.

In an interview to CNBC-TV18, Gopal Sarda, Group CEO of Kolte-Patil Developers spoke about the latest happenings in his company and sector.

Q1 of FY18 was a very strong quarter on a quarter-on-quarter (QoQ) basis, he said.

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FY18 pre-sale will be up 15-18 percent year-on-year (YoY), he added.

Customers had gone into wait and watch mode because of Real Estate Regulatory Authority (RERA) and goods and services tax (GST), so May-June were slightly low but we are seeing uptick July onwards, said Sarda.

Business is coming back to normalcy and pre-sale number will be intact compared to QoQ performance, he further mentioned.

Expect H2FY18 to be better than H1FY18, he said.

For full interview, watch accompanying video...

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First Published on Sep 25, 2017 11:49 am
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