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The Pune-based real estate developer says Kalele will continue in executive position till December 31, 2015 and will be associated with the company in an advisory role till March 31, 2016.
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The company reported a consolidated total income from operations of Rs 175.63 crore and a net profit of Rs 14.47 crore for the quarter ended Jun '15.
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Kolte-Patil Developers‘ third quarter (October-December) profit after tax declined 3 percent year-on-year (up 56 percent sequentially) to Rs 19.8 crore, impacted by higher tax, finance cost and lower other income.
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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.
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Sujay Kalele, group chief executive officer says the realty company will earn anywhere close to 8-15 percent margins of the collections accrued from this project's sales.
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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.
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Sujay Kalele- managing director, Kolte Patil Developers says the company's Q2 sales were similar to Q1.
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Pune developer Kolte-Patil fixed its house and made profits when most others are struggling. Now it has drawn up a plan to enter the top league
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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.
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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.
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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.
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Sujay Kalele, Group CEO, Kolte-Patil Developers, says Pune is a stable market and they are targeting Rs 900 crore revenue realisation for FY14.
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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.
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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.
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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.
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Kolte-Patil is perhaps Pune‘s most formidable real estate developer. Now the company has its eye set on Mumbai and Bangalore.
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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.
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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
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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.
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Sujay Kalele, vice chairman, Kolte-Patil Developers in an interview with CNBC-TV18 said, "The residential segment is doing very good. We have received phenomenal response for all the projects. The commercial demand is slowly picking up."
