Kolte-Patil Developers' annual sales in FY24 reached 3.92 million square feet, marking a significant 20% increase compared to the previous fiscal year's 3.27 million square feet. This surge underscores the company's robust performance and growing market presence. The uptick reflects strong demand for their real estate offerings. In Q4 FY24 alone, the company recorded quarterly pre-sales of INR 743 crore, indicating a 6% YoY growth. Kolte-Patil also launched projects worth INR 3,800 crore across Pune and Bengaluru during the fiscal year.
Pune-based real estate giant Kolte-Patil Developers has proudly announced its outstanding financial performance for the fiscal year 2024, showcasing remarkable growth in both sales value and volume, along with substantial increases in collections.
The company revealed that it achieved an annual sales value of INR 2,822 crore during FY24, a significant leap from INR 2,232 crore in FY23, reflecting an impressive year-on-year growth of 26%. Moreover, Kolte-Patil Developers reported a surge in its annual sales volumes, reaching 3.92 million square feet in FY24, compared to 3.27 million square feet in the previous fiscal year, marking a noteworthy 20% increase year-on-year.
The collections for FY24 witnessed a substantial rise, totaling INR 2,070 crore, reflecting a notable growth of 9% from the previous fiscal year's collections of INR 1,902 crore. Additionally, in the fourth quarter of FY24 alone, Kolte-Patil Developers recorded quarterly pre-sales amounting to INR 743 crore, demonstrating a commendable 6% year-on-year growth.
Rahul Talele, the group CEO of Kolte-Patil Developers, expressed his satisfaction with the company's performance, emphasizing the significance of FY24 as a standout year for the organization. He highlighted the achievement of the highest-ever sales value of INR 2,822 crore and sales volumes of 3.92 million sq. ft., coupled with record collections amounting to INR 2,070 crore.
Throughout the financial year, Kolte-Patil Developers embarked on various strategic initiatives, launching projects across Pune and Bengaluru with a total gross development value (GDV) of INR 3,800 crore. These endeavors underscore the company's commitment to expansion and innovation, as well as its dedication to delivering high-quality developments to its customers.
The remarkable financial results achieved by Kolte-Patil Developers underscore its strong market position and resilience in navigating dynamic real estate landscapes. With a steadfast focus on customer satisfaction and a penchant for innovation.
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