April 12, 2024: Pune-based developer Kolte-Patil Developers has recorded achieved an annual sales value of Rs 2,822 crore during FY24, witnessing a growth of 26% YoY, according to an official release on its real estate operations during the quarter and full year ending March 31st, 2024. The developer recorded an annual sales volume of 3.92 msf with a 20% YoY growth. In Q4 FY24, the company registered quarterly pre-sales of Rs 743 crore, resulting in a 6% YoY growth. KPDL’s flagship project, Life Republic Integrated Township, achieved sales volumes of around 6.4 lakh square foot (sqft) during Q4 and an annual sales volume of 2.3 million square foot (msf) marking the highest-ever annual sales achieved, the release stated.
The company has launched projects with a total GDV of Rs 3,800 crore across projects in Pune and Bangalore. New launches contributed around 63% to the total pre-sales value for FY24. According to the developer, contribution from the 24K projects across Pune led to improved realisations for the year.
According to the release, the company registered collections of Rs 592 crore during Q4 FY24 and the highest collections of FY24 at Rs 2,070 crore, a 9% growth YOY.
Rahul Talele, Group CEO, Kolte-Patil Developers said, “The residential real estate segment witnessed an unprecedented surge during the year driven by various factors including rising disposable incomes and increased affordability, strong economic growth resulting in increasing consumer confidence, policy reforms and stable interest rates empowering buyers to invest in their dream homes. FY24 has been a significant year for Kolte-Patil Developers, characterised by highest ever sales of Rs 2,822 crore and volumes of 3.92 million sq. ft. and highest ever collections of Rs. 2,070 crore. Our strategic focus on lifestyle-centric residences, particularly our ’24K’ brand projects across Pune, have yielded encouraging response, with a noticeable uptick in customer demand. The continued success of our flagship project, Life Republic, where we sold 2.3 million sq. ft. in FY24, is an outcome of reimagining the township as a response to evolving customer needs and markets dynamics.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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