Kolte-Patil Developers Ltd. (KPDL) reported its highest-ever quarterly sales of INR 770 crore for Q2FY25, with the premium 24K segment contributing 30%. Sales volumes reached 1.03 million square feet, driven by flagship projects like Life Republic. Average realisations increased by 16% year-on-year to INR 7,472 per square foot. Collections totalled INR 550 crore for the quarter and INR 1,162 crore for H1FY25. CRISIL upgraded KPDL's ratings, reflecting financial strength. KPDL's growth is fuelled by strong sales, premium project success, and disciplined financial management, positioning it for continued success in Pune, Mumbai, and Bengaluru.
Kolte-Patil Developers Ltd. (KPDL), a prominent real estate player based in Pune, with a growing presence in Mumbai and Bengaluru, has shared significant updates on its operations for the quarter and half-year ending on 30th September 2024. The company recorded its highest-ever quarterly sales value of INR 770 crore, marking a milestone in its growth. The 24K segment, a premium offering by KPDL, contributed 30% to these sales in the second quarter of the fiscal year 2025 (Q2FY25). Sales volumes for the quarter reached 1.03 million square feet, demonstrating the company's strong position in the real estate market. One of KPDL's flagship projects, Life Republic (LR), contributed significantly to these numbers, with sales volumes reaching 0.57 million square feet in Q2FY25.
There was also a notable rise in average realisations during Q2FY25, which saw a 16% year-on-year (YoY) increase, taking the rate to INR 7,472 per square foot. This growth was largely driven by premium projects, particularly in Life Republic and KPDL's 24K developments located in Baner, Pimple Nilakh, and Life Republic itself. Collections for Q2FY25 were reported at INR 550 crore, with the half-year figure (H1FY25) reaching a new high of INR 1,162 crore. The robust sales and consistent execution of projects were cited as the main reasons for these strong financials.
In recognition of its financial health and disciplined approach to growth, KPDL's long-term rating was upgraded by CRISIL to CRISIL AA-/Stable, while its short-term rating was raised to CRISIL A1+. These ratings reflect the company's financial strength and its commitment to maintaining a stable, growth-oriented approach. A company spokesperson explained that the financial performance in Q2FY25 reflected KPDL's strong presence in the market and its ability to consistently deliver premium real estate projects. They added that the increase in realisations was due to the ongoing success of premium projects in key areas.
As KPDL moves forward, its focus remains on expanding its market presence in Pune, Mumbai, and Bengaluru, while continuing to offer premium real estate options to buyers. The company's flagship projects, particularly Life Republic, continue to be central to its success, attracting a wide range of buyers. The strong financial performance, backed by increased sales, premium project launches, and improved collections, highlights KPDL's resilience and adaptability in the evolving real estate market. With consistent project execution and its focus on quality, KPDL has managed to set new benchmarks for growth in the real estate sector. In the long term, KPDL is expected to benefit from the momentum it has gained in the current financial year.
Looking ahead, the company is well-positioned to continue its success, leveraging its strong presence in key markets and its focus on premium real estate developments. The next chapter of KPDL's growth story appears promising, with new milestones expected to be achieved in the coming quarters. The combination of financial strength, market presence, and a commitment to delivering quality projects ensures KPDL's continued relevance and success in the competitive real estate market.
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