Kolte-Patil Developers Limited (KPDL), a Pune-based real estate developer, reported robust results for Q1 FY25, showcasing sustained strength in the residential real estate market. The company achieved pre-sales of INR 711 crore, indicating strong demand. Collections from ongoing projects reached a record INR 612 crore, a 19% year-over-year growth, up by INR 100 crore from the previous year. Their flagship project, Life Republic Integrated Township, contributed 0.46 million square feet in sales volumes. KPDL aims to achieve pre-sales of INR 3,500 crore for the fiscal year, driven by strategic focus and new launches in Pune and Mumbai.
Kolte-Patil Developers Limited (KPDL), a Pune-based real estate developer, reported positive results for the first quarter of the fiscal year 2024-25 (Q1 FY25). This indicates continued strength in the residential real estate market.
KPDL achieved pre-sales of INR 711 crore during Q1 FY25, reflecting sustained demand for residential properties. This figure represents the total value of properties booked by customers during the quarter. Additionally, the company collected a record-high INR 612 crore from ongoing projects, demonstrating a healthy pace of construction and customer satisfaction. This 19% year-over-year growth in collections translates to an increase of INR 100 crore compared to the same period last year.
A significant portion of KPDL's sales success came from their flagship project, Life Republic Integrated Township. This large-scale development offers a mix of residential options and amenities, attracting buyers seeking a comprehensive living environment. Life Republic contributed sales volumes of 0.46 million square feet during the quarter.
KPDL remains optimistic about the future of the residential real estate market. The company has plans for new project launches in both Pune and Mumbai, aiming to achieve their pre-sales guidance of INR 3,500 crore for the entire fiscal year. This represents a potential increase of INR 789 crore compared to their pre-sales figures from the previous fiscal year. Atul Bohra, Group CEO of KPDL, highlighted their "strategic focus and execution capabilities" as key factors in achieving their growth objectives.
KPDL's continued growth in the residential real estate market is a positive sign for homebuyers. It indicates a healthy supply of new properties, potentially leading to a wider range of options and competitive pricing.
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