Kolte-Patil Developers Limited – Operational Update for Q4 & FY24
- Highest-ever annual sales value of Rs. 2,822 crore; 26% YoY growth
- Highest-ever annual sales volumes of 3.92 million sq. ft.; 20% YoY growth
- Highest-ever collections of Rs. 2,070 crore
- Launched projects with GDV of Rs. ~3,800 crore during FY24
Pune: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune based real estate player with growing presence in Mumbai and Bengaluru, has announced key updates on its real estate operations during the quarter and full year ended 31st March 2024.
Summary of operational performance:
|
New
Area Sales
|
Q4FY24
|
Q3FY24
|
QoQ
|
Q4FY23
|
YoY
|
FY24
|
FY23
|
YoY
|
|
Volume
(million sq. ft.)
|
1.03
|
0.98
|
4%
|
0.97
|
6%
|
3.92
|
3.27
|
20%
|
|
Value
(Rs. crore)
|
743
|
746
|
-
|
704
|
6%
|
2,822
|
2,232
|
26%
|
|
Realization
(Rs. /sq. ft.)
|
7,226
|
7,579
|
-5%
|
7,225
|
-
|
7,193
|
6,817
|
6%
|
|
Collections
(Rs. crore)
|
592
|
493
|
20%
|
589
|
1%
|
2,070
|
1,902
|
9%
|
|
New Area Sales
|
H2FY24
|
H1FY24
|
HoH
|
H2FY23
|
YoY
|
|
Volume (million sq. ft.)
|
2.01
|
1.91
|
5%
|
2.10
|
-4%
|
|
Value (Rs. crore)
|
1,489
|
1,333
|
12%
|
1,420
|
5%
|
|
Realization (Rs./sq. ft.)
|
7,397
|
6,979
|
6%
|
6,748
|
10%
|
|
Collections (Rs. crore)
|
1,085
|
985
|
10%
|
1,024
|
6%
|
Collections include contribution from DMA projects
- Achieved highest ever annual sales value of Rs. 2,822 crore during FY24 marking a growth of 26% YoY
o Launched projects with a total GDV of Rs. 3,800 crore across projects in Pune and Bengaluru
o New launches contributed around ~63% to the total pre-sales value for FY24
o Contribution from the 24K projects across Pune led to improved realizations for the year
o KPDL's flagship project, Life Republic Integrated Township, recorded robust annual sales volumes of 2.3 million sq. ft., marking the highest-ever annual sales achieved
- In Q4 FY24, recorded quarterly pre-sales of Rs. 743 crore, resulting in a 6% YoY growth
o KPDL's flagship project, Life Republic Integrated Township, achieved sales volumes of ~6.4 lakh sq. ft during Q4
Commenting on the performance, Mr. Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “The residential real estate segment witnessed an unprecedented surge during the year driven by various factors including rising disposable incomes and increased affordability, strong economic growth resulting in increasing consumer confidence, policy reforms and stable interest rates empowering buyers to invest in their dream homes. FY24 has been a significant year for Kolte-Patil Developers, characterized by highest ever sales of Rs. 2,822 crore and volumes of 3.92 million sq. ft. and highest ever collections of Rs. 2,070 crore. Our strategic focus on lifestyle-centric residences, particularly our '24K' brand projects across Pune, have yielded encouraging response, with a noticeable uptick in customer demand. The continued success of our flagship project, Life Republic, where we sold 2.3 million sq. ft. in FY24, is an outcome of reimagining the township as a response to evolving customer needs and markets dynamics.
As we progress, our focus remains on delivering exceptional value to our customers and responding adeptly to ensure sustainable growth. We are confident that our ongoing efforts will bolster our position in key operating markets of Pune, Mumbai Metropolitan Region (MMR), and Bengaluru. As we enter the new financial year, we remain committed to establish new benchmarks, maintain our business momentum, and elevate standards within our industry.”