Real estate builder Kolte-Patil Developers on January 13, 2023, said that company reported the highest quarterly pre-sales numbers by value and volume in the third quarter of the current financial year (Q3 FY23).
The Pune-based real estate player sold units worth Rs 716 crore during the three-month period, reporting 95% quarter-on-quarter growth. The company’s sales booking stood at Rs 367 crore in the July-September quarter while it was Rs 561 crore in Q3 FY22.
In terms of volume, the developer, with growing presence in Mumbai and Bengaluru, sold 1.13 million square feet (msf) of space during the quarter ending December 31, 2022, showing quarterly growth of 102%.
In a regulatory filing, the company said it achieved sales value of Rs.1,528 crore during the nine months of this fiscal (April to December 2022), up 23% YoY, from ongoing as well as new launches. Supported by efficient lifecycle of registrations, sales, construction and robust CRM systems, collections during the 9 months grew by 22% to Rs 1,313 crore, it added.
“This growth has been achieved on the back of firm realisations and highest ever quarterly sales volumes which improved 102% QoQ and 31% YoY. Our performance in Q3 was marked by a significant contribution from new launches and continued momentum of customer traction in our existing, sustenance phase projects,” says Rahul Talele, group CEO, Kolte-Patil Developers Limited.
“Housing demand has been resilient across key markets, backed by improved affordability parameters from the longer-term perspective and persistence of flexible, hybrid work formats. With increased consolidation and formalization of the sector, buyers and land owners are turning to quality developers and Kolte-Patil is well positioned to capitalize on the opportunities with focus on delivering value across the entire ecosystem of stakeholders,” he added.
The company has developed and constructed over 50 projects, including residential complexes, integrated townships, commercial complexes and IT Parks, covering a saleable area of over 23 msf across Pune, Mumbai and Bengaluru.
