Despite the challenging environment, the company posted strong numbers in Q2. Speaking to CNBC-TV18 on the same, Kalele says realisations were delayed due to slow construction activities.
Sujay Kalele, Group CEO, Kolte-Patil Developers, says Pune is a stable market and they are targeting Rs 900 crore revenue realisation for FY14.
Kolte Patil, Pune‘s realty giant has no plans to delay any project launches in the city following a current slowdown, CEO Sujay Kalele told CNBC-TV18.
Sujay Kalele, Group CEO of Kolte-Patil Developers Ltd told CNBC-TV18 that his expectation for the overall sales for this particular year is about 2.5-3 million square feet.
The company has improved on margins this quarter substantially, says Sujay Kalele, Group CEO, Kolte-Patil Developers. Talking to CNBC-TV18, he says the net profit for the quarter stands at about Rs 45 crore, as against Rs 30 crore in the previous quarter.
Kolte-Patil is perhaps Pune‘s most formidable real estate developer. Now the company has its eye set on Mumbai and Bangalore.
Kolte-Patil's group chief executive officer, Sujay Kalele says the company‘s 49 percent buy out of the investor's stake was financed entirely by their internal accruals. The amount paid, according to Kalele is Rs 65 crore and will reflect in the balance sheet from the next quarter.
Sujay Kalele, vice president of the business development section of the company told CNBC-TV18 about the company‘s future ventures, expectations in 2013 and the challenges ahead.
Sujay Kalele, Chief Executive Officer of Kolte-Patil Developers credits realty developer‘s projects in Pune and Bangalore for their robust performance in the second quarter