July 14, 2023: Pune-based real estate company Kolte-Patil Developers has recorded a sales value of Rs 701 crore, an increase of 58% YoY in the first quarter of the financial year 2024 (Q1 FY24), according to the key updates on its real estate operations for the quarter ending June 30, 2023. The company’s sales volumes for the quarter stood at 0.93 million square foot (sqft), which witnessed a rise of 52% YoY.
According to an official statement, the company attained sales value of over Rs 700 crore for the third consecutive quarter. The company recorded launches of 1.38 million sqft in Pune during Q1FY24. This included 24K Altura project in Baner and Arezo-JKD project in Life Republic township, Hinjawadi. For Q1F24, the company’s collections stood at Rs 513 crore while it was Rs 474 in Q1 FY23, witnessing an 8% rise YOY.
During the quarter, realisations improved 4% YoY, reaching Rs 7,545 per sqft, with a significant contribution from 24K Altura project in Baner, the company said in its statement.
Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “Sales improved 58% by value and 52% by volume over Q1 FY23, on the back of strong traction across new launches and on-going projects. In May 2023, we announced the acquisition of two projects in Pune with a topline potential of Rs 1,300 crore and two projects in Mumbai with a topline potential of Rs 1,200 crore.”
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