Kolte-Patil Developers Sees Higher Property Prices on the Horizon
Pune-based real estate developer expects better realisations for FY25
Property PricesReal EstateKolte Patil DevelopersMumbaiBengaluruPuneReal Estate NewsMay 28, 2024
Rahul Talele, Group CEO, attributes the growth to the company's focus on Mumbai from a business development perspective. A few projects in Bengaluru will also close soon, helping the company achieve diversification of around 30% beyond Pune. He added that the company aims to have diversification of around 40% in the next two years, beyond Pune.
The last financial year (FY24) ended on a strong note for the company, with highest ever pre-sales and collections. It also achieved the lowest net debt-to-equity ratio. However, the January-March quarter ended with a loss of ₹27 crore versus a profit of ₹117 crore the previous year. Revenue also dipped to ₹526 crore from ₹797 crore. There was an earnings before interest, tax, depreciation, and amortisation (EBITDA) loss of ₹18 crore versus a profit in the previous year.
Despite the challenges, the company remains confident of improving its earnings before interest, tax, depreciation, and amortisation (EBITDA) margin, which stood at 26% for the last financial year. For FY25, the company is confident of launching around ₹8,000 crore worth of projects, with pre-sales guidance of ₹3,500 crore. In FY26, the guidance is expected to be around ₹4,500 crore.
The current market capitalisation of the company is ₹3,612 crore.
Kolte-Patil Developers is a leading real estate developer based in Pune, with a focus on residential and commercial projects. The company has a strong presence in Pune and is expanding its presence in other cities, including Mumbai and Bengaluru.
Kolte-Patil Developers is a reputed real estate developer with a strong track record of delivering quality projects. The company has a skilled team of professionals who are committed to providing exceptional customer service and exceeding customer expectations.
Frequently Asked Questions
What is the expected average property price for FY25?
₹8 000 per sq ft
What is the pre-sales guidance for FY25?
₹3 500 crore
What is the current market capitalisation of Kolte-Patil Developers?
₹3 612 crore
What is the company's aim for diversification beyond Pune?
40% in the next two years
What was the EBITDA margin for the last financial year?
26%
Related News Articles
High-Potential Real Estate Hotspots: Vizag and Tirupati Take Center Stage
Vizag and Tirupati emerge as top destinations for real estate development, with infrastructure growth driving the market
Job Scam Alert: Mumbai Woman Loses ₹1.5L to Fake MHADA Job Promise
A woman in Mumbai was duped out of ₹1.5 lakh by a fraudster who promised to secure a job for her son in MHADA. The accused provided a fake appointment letter after taking the money.
Maharashtra Aims to Provide 30 Lakh Affordable Homes by 2030
Maharashtra Housing Minister Atul Save announces plans to provide 30 lakh affordable homes by 2030, targeting economically weaker sections and lower-income groups.
Real Estate and Engineering Boost Raymond Ltd's Profits
The real estate and engineering sectors have been the primary drivers of Raymond Ltd's profits, contributing significantly to the company's growth. 06 November, 2024 · Hyderabad Housing Market Witnesses 20% Increase in Sales Value
Water Supply Disrupted in Mumbai Due to 600 mm Pipeline Leak
A sudden leakage in the 600 mm diameter water pipeline supplying the Fosbery Reservoir in Mumbai has led to a disruption in water supply in areas like Sewri, Darukhana, and Indiranagar. The BMC is working on emergency repairs.
Tokenization: The Future of Real Estate Investing
Tokenization of real-world assets (RWAs) is poised to revolutionize the real estate investment landscape, making it more accessible, liquid, and efficient. Discover how this innovative technology is transforming the sector.