Sales volume tumbled 17.35% to 0.81 million square feet in the third quarter of FY25 from 0.98 million square feet in the same quarter the previous year.
The company's sales value and sales volume declined 11.69% and 21.36%, respectively, as compared with Q2 FY25.
Realization was at Rs 8,394 per square feet, recording a growth of 10.75% YoY and 12% QoQ, on account of higher realizations at the premium project ‘Canvas’ at Life Republic (LR) and 24K projects in Baner and Pimple Nilakh. Collections stood at Rs 567 crore, up 15.01% YoY and 3% QoQ.
Atul Bohra, Group CEO of Kolte-Patil Developers, said, “The nine-month’ period is marked by milestone collections of Rs 1,729 crore driven by our steadfast focus on execution discipline and customer satisfaction. Sales at Rs 2,161 crore grew at a modest rate.
We experienced extended timelines for some of the project launches; the contribution of new launches moderated to approximately 31% of the overall sales value for 9M FY25. Our 24K premium luxury segment continues to witness firm traction, reaffirming the demand for asp-rational living spaces. Realizations have been improving with firm contributions from premium and 24K projects.
Similarly, the Life Republic township project continues to deliver strong performance; it achieved sales volumes of 1.5 million sq. ft. in 9M FY25. A 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.”
The Kolte-Patil Developers group is one of the largest residential real estate developers in Pune. The company has a healthy project portfolio of affordable, mid-income, and luxury residential segments through its brands, Kolte-Patil and 24K, respectively, and is expanding its presence in Bengaluru and Mumbai. The company has developed and constructed over 64 projects, including residential complexes, integrated townships, commercial complexes, and IT parks, covering a saleable area of over 28 million square feet across Pune, Mumbai, and Bengaluru.
The company’s consolidated net profit surged 138.5% to Rs 9.74 crore on 55.6% rises in net sales to Rs 308.29 crore in Q2 FY25 over Q2 FY24.
Shares of Kolte-Patil Developers gained 2.35% to Rs 317.65 on the BSE.