Pune-based realtor, Kolte Patil Developers Limited (KPDL), has registered sales of Rs 701 crore, up 58 percent in the Q1 FY24, that ended June 30, the company said in a regulatory filing on July 13.
Collections from customers in the same quarter touched Rs 513 crore, an annual rise of 8 percent. It was, however, 13 percent lower than the Rs 589 crore registered in Q4 FY23.
Sales volume for the quarter stood at 0.93 million square feet (msf) of development, up 52 percent compared to Q1 FY23.
The company launched about 1.38 msf of developments in Pune in Q1 FY24, including the 24K Altura project in Baner and Arezo-JKD project in Life Republic township, Hinjawadi.
During the quarter, realisations improved by 4 percent compared to Q1 FY23, to reach Rs 7,545 per square foot, a major contributor being the 24K Altura project.
The company said new launches contributed about 43 percent to the pre-sales value. KPDL’s flagship project, Life Republic (LR), registered sales volumes of 0.52 msf in the same quarter.
“Sales improved 58 percent by value and 52 percent by volume over Q1 FY23, on the back of strong traction across new launches and ongoing projects. Our 24K Altura project in Baner, launched in Q1 FY24, received a strong response further augmenting our position in the premium luxury segment. Customer sentiment remains robust and Kolte-Patil is well positioned to capitalise on this demand for larger homes and differentiated offerings," Rahul Talele, Group CEO, KPDL said.
In May 2023, the company announced the acquisition of two projects in Pune with a topline potential of Rs 1,300 crore and two projects in Mumbai with a topline potential of Rs 1,200 crore.
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