Kolte-Patil Developers Sees 13% Drop in Q1 Pre-Sales to Rs 616 Crore

NEW DELHI, July 12: Real estate company Kolte-Patil Developers Ltd has seen a significant dip in its sale bookings, reporting a 13% decline to Rs 616 crore in the first quarter of this fiscal year. This reduction is primarily attributed to lower volumes and average price realization.

Its sale bookings or pre-sales stood at Rs 711 crore in the same period last year, indicating a clear downward trend. In a regulatory filing on Saturday, the company provided detailed insights into the performance metrics for the quarter.

The sales volume in the April-June FY26 period fell by 12.5% to 0.84 million square feet from 0.96 million square feet in the corresponding period of the previous year. Additionally, the sales realization marginally dipped to Rs 7,337 per square foot from Rs 7,407 per square foot.

In a significant development, global investment firm Blackstone acquired a 14.3% equity stake in the company in June. This move is expected to bring in substantial capital and strategic expertise, potentially aiding in the company's future growth and stability.

Established in 1991, Kolte-Patil Developers has a robust portfolio of over 68 projects, including residential complexes, integrated townships, commercial complexes, and IT Parks. The company has developed a saleable area of more than 30 million square feet across key cities such as Pune, Mumbai, and Bengaluru.

Despite the current challenges, the company remains optimistic about its long-term prospects, driven by its strong project pipeline and strategic investments. The acquisition by Blackstone is seen as a positive step towards enhancing the company's market position and financial health.

Kolte-Patil Developers continues to focus on delivering high-quality projects and maintaining customer satisfaction, which has been a cornerstone of its success over the past three decades. The company's commitment to innovation and sustainable development practices further strengthens its position in the competitive real estate market.

As the real estate sector continues to evolve, Kolte-Patil Developers is well-positioned to navigate the challenges and capitalize on emerging opportunities. The company's strategic partnerships and robust project portfolio are expected to drive its growth in the coming years.