A prominent real estate stock with a strong foothold in the Pune residential market surged by nearly 14 percent, driven by a 16 percent year-on-year increase in collections and a 22% growth in pre-sales during Q2 FY25.
Share price variations:
With a market capitalization of Rs. 3,317.59 crores, Kolte Patil Developers Ltd. rose to an intraday high of Rs. 446.35 representing a 12 percent increase from its previous closing price of Rs. 392.50 per share.
Reason for the Rise:
According to exchange filings, Kolte-Patil Developers Ltd reported its highest-ever quarterly pre-sales value of Rs. 770 crores in Q2 FY25, an increase from Rs. 632 crores in Q2 FY24, marking a growth of 21.83%. The collections also rose by 16% year-on-year, reaching Rs. 550 crores in Q2 FY25 compared to Rs. 472 crores in Q2 FY24. Additionally, the average realization value grew by 16%, rising to Rs. 7,472 sq. ft from Rs. 6,426 sq. ft year-on-year.
On a quarter-on-quarter basis, the pre-sales value grew by 8 percent from Rs. 711 crores, while the average realization increased by 1 percent from Rs. 7,407 in Q1 FY25. However, collections declined by 10 percent, falling from Rs. 612 crores during the same period.
The company achieved a pre-sales value of Rs. 1,481 crores in H1 FY25, accounting for approximately 42.31 percent of its targeted pre-sales value of Rs. 3,500 crores for FY25, and aims to attain a 25 percent CAGR growth over the period FY25-27.
About the company:
Incorporated in 1991, Kolte-Patil Developers Ltd is a leading real estate company with a dominant presence in the Pune residential market and a growing presence in Mumbai and Bengaluru.
The company has developed and constructed over 64 projects including residential complexes, integrated townships, commercial complexes, and IT Parks covering a saleable area of 28 million square feet and has a project portfolio of 34.10 million square feet under execution, approval, and as land bank valued at Rs. 25,000 crores.
Written By: Joseph Pv
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