Kolte-Patil Q4 Results: Sale Bookings Fall 15% To Rs 631 Crore On Lower Volumes
Kolte-Patil's sale bookings in volume terms fell 23% to 0.8 million square feet during January-March quarter of 2024-25.
(Photo source: Company website)
Realty firm Kolte-Patil Developers Ltd.'s sale bookings declined 15% to Rs 631 crore in the fourth quarter of last fiscal on lower volumes.
Its sale bookings stood at Rs 743 crore in the year-ago period.
Sale bookings in volume terms fell 23% to 0.8 million square feet during January-March quarter of 2024-25 from 1.03 million sq ft in the corresponding period of the preceding year, according to a regulatory filing on Thursday.
During the full 2024-25 fiscal, Kolte-Patil Developers fell marginally by 1% to Rs 2,791 crore from Rs 2,822 crore in the preceding fiscal. Sales volume declined 8% to 3.60 million square feet from 3.92 million square feet, but average realisation rose 8% to Rs 7,758 from Rs 7,193 per square feet.
Pune-based Kolte-Patil Developers is one of the leading real estate firms in the country.
Atul Bohra, Group CEO of Kolte-Patil Developers, said, 'During FY25, we recorded milestone collections of Rs 2,432 crore, reinforced by operating efficiency, strong registrations, sales, construction and customer engagement. Sales at Rs 2,791 crore remained muted, impacted by delay in the planned project launches.' New launches contributed around 42% to overall sales bookings, he added.
Kolte-Patil Developers has developed and constructed over 64 projects including residential complexes, integrated townships, commercial complexes and IT parks, covering a saleable area of more than 28 million square feet across Pune, Mumbai and Bengaluru.
In March this year, Kolte-Patil Developers announced that Blackstone would acquire a 40% stake in the company for Rs 1,150 crore.
Blackstone affiliated firm will acquire a 14.3% stake for Rs 417 crore through a preferential issue of equity shares and another 25.7% stake from the promoters group for Rs 750 crore.
Global investment firm Blackstone will be entering into Indian residential market after having a significant exposure in office, shopping mall, warehousing and data centre verticals of real estate.
