Realty firm Kolte-Patil Developers Ltd's sale bookings declined 15 per cent 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 per cent 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 Ltd fell marginally by 1 per cent to Rs 2,791 crore from Rs 2,822 crore in the preceding fiscal. Sales volume declined 8 per cent to 3.60 million square feet from 3.92 million square feet, but average realisation rose 8 per cent to Rs 7,758 from Rs 7,193 per square feet.
Pune-based Kolte-Patil Developers Ltd 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 per cent 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 per cent stake in the company for Rs 1,150 crore.
Blackstone affiliated firm will acquire a 14.3 per cent stake for Rs 417 crore through a preferential issue of equity shares and another 25.7 per cent 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.
Sale bookings in volume terms fell 23 per cent 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 Ltd fell marginally by 1 per cent to Rs 2,791 crore from Rs 2,822 crore in the preceding fiscal. Sales volume declined 8 per cent to 3.60 million square feet from 3.92 million square feet, but average realisation rose 8 per cent to Rs 7,758 from Rs 7,193 per square feet.
Pune-based Kolte-Patil Developers Ltd 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 per cent 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 per cent stake in the company for Rs 1,150 crore.
Blackstone affiliated firm will acquire a 14.3 per cent stake for Rs 417 crore through a preferential issue of equity shares and another 25.7 per cent 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.
You may also like
Kalki Koechlin learned 'patience' from her daughter Sappho
Astrology Tips: If you want happiness, prosperity and wealth in life, then feed these things to a black cow, your luck will shine..
Turn ₹6,000 Monthly into ₹20 Lakh: The Smart Power of PPF Savings
China says it's ready to open market to import more Indian goods, urges 'non-discriminatory' stance for its firms
Deoband-Roorkee rail line approved, cuts Delhi-Dehradun distance by 40 km
