Kolte-Patil Developers Share Price Rises After One-Day Fall As Q3 Collection Up

Shares of Kolte-Patil Developers Ltd. resumed their gaining streak, after a one-day drop after the company reported its operational update for December quarter. The company's collections from new area sales rose by 15% year-on-year and 3% sequentially to Rs 567 crore.

On a nine-month basis, collections rose by 17% to Rs 1,729 crore. During Q3 FY25, average realisations at Rs 8,394 per square foot improved by 11% YoY and 12% QoQ, an exchange filing by the company said. This was mainly on account of higher realisations at the premium project ‘Canvas’ at Life Republic and 24K projects in Baner and Pimple Nilakh. 

"KPDL’s flagship project, Life Republic (LR), registered sales volumes of 0.43 million sq. ft. in Q3 FY25 and 1.5 million sq. ft. in nine months of FY25," it said.

However, new area sales value was down by 9% year-on-year to Rs 680 crore in the December quarter, while volume fell 18% to 8.1 lakh square feet.

"We experienced extended timelines for some of the project launches; contribution of new launches moderated to 31% of the overall sales value for 9M FY25," the company said. "Robust pipeline of project launches, strong band resonance and sustained demand for premium and mid-segment housing stand us in good stead to continue delivering sustained growth.”

Before falling on Monday, the stock had risen for three consecutive sessions.

The scrip rose as much as 3.6% to Rs 321.50 apiece. It pared gains to trade 2.3% higher at Rs 318.45 apiece, as of 1:58 p.m. This compares to a 0.7% decline in the NSE Nifty 50.

It has risen 11.1% in the last 12 months. Total traded volume so far in the day stood at 2.33 times its 30-day average. The relative strength index was at 38.9.

All six analysts tracking the stock have a 'buy' call, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 76.6%.