Gopal Sarda, Regional Head Mumbai, Kolte Patil says the company didn't hit the threshold limit of revenue recognition in Q2 for its projects - Jazz, Bavdhan, Giga Residencies.
Welcoming the RBI‘s decision to cut repo rate by 25 bps ahead of the February 3 policy, Sujay Kalele, Group CEO, Kolte-Patil Developers, said he sees borrowing cost coming down.
The company has collaborated to develop NOW Realty residential project â€˜Sereno‘ that offers 0.6 msf of saleable area.
Lauding the central government‘s decision yesterday to ease foreign direct investment norms for construction, Sujay Kalele, Group CEO of Kolte-Patil Developers, said the policy measure would be a big boost to the real estate sector.
The realty firm also obtained locational clearance for first phase of 475 acre Sanjivani township in Talegaon, Pune and is planning to launch the first phase in Q4FY15
Sujay Kalele,Group CEO, Kolte Patil says the company has three projects that are in various stages of receiving approvals having about .35 million square feet of saleable area.
Sujay Kalele, Group Ceo, Kolte-Patil Developers, says the projects will be launched in Q4FY15 and is likely to attract better margins than the prevailing deals.
The project that cost the company Rs 350 crore has been accrued by taking a loan of Rs 60 crore. However, all of it has been factored in the earlier quarters and hence, there is no incremental loan for the company, explains Sujay Kalele, chief executive officer, Kolte-Patil Developers.
Ready reckoner rates are calculated using the built-up area of a property and are used to determine its market value. Before 2008, it used to be calculated using the carpet area.
Sujay Kalele, Group CEO, Kolte-Patil Developers, expects average realisation to be Rs 5,200-Rs 5,400 per sq ft for the entire financial year.
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.
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.
In an interview with CNBC-TV18, Sujay Kalele, VP - Business Development, Kolte-Patil Developers said the company hopes to achieve Rs 300-350 crore revenue in FY12.