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Kolte-Patil Developers Ltd a leading Pune-based real estate player, with growing presence in Mumbai and Bengaluru, announced its un-audited results for the first quarter ended 30 June 2024.
Commenting on the performance for Q1 FY25, Atul Bohra, Group CEO, Kolte Patil Developers Limited said, “In a rapidly evolving real estate industry, we have been persistent in delighting customers with product offerings that enrich their lifestyle resulting in pre-sales of Rs. 711 crore and volumes of 0.96 million square feet for the quarter. Strong execution and timely deliveries resulted in our highest-ever quarterly collections of Rs. 612 crore, marking a 19% year-on year growth. Sustaining the sales momentum, our flagship Life Republic project in Pune recorded sales volumes of 0.46 million square feet in Q1 FY25.
For the year till date we have launched projects with saleable area of close to 2 million square feet translating into top-line potential of about Rs. 1,500 crore across customer segments. I am glad to share that all the projects are receiving encouraging response from the market. The launches schedule is largely on track and we hope to be able to launch projects with top-line potential of Rs. 8,000 crore during the current financial year.
The underlying structural demand drivers remain strong, as customers continue to favour developers and projects that offer reliability, credibility, and a proven track record. The focus on housing, infrastructure development, and urban planning is expected to provide sustained support to the housing sector. With a growing project development pipeline, under-borrowed Balance Sheet, a validated governance structure, and a strong brand connect associated with trust, we believe that Kolte-Patil is attractively placed to deliver sustainable growth across the coming years.”
