Pune-based Real Estate Developer Kolte-Patil Eyes Higher Property Prices in FY25
Kolte-Patil Developers expects realisations to improve to ₹8
Property PricesReal EstateKolte Patil DevelopersPuneMumbaiBengaluruReal Estate PuneMay 28, 2024
In an interview, Rahul Talele, Group CEO of Kolte-Patil Developers, said that the company's average realisation around four years back was around ₹5,200-5,100 per sq ft. However, with property prices continuing to rise, the company expects better realisations for April-March 2024-25 compared to the previous year.
The company will focus on Mumbai from a business development perspective, with a few projects in Bengaluru expected to close soon, helping the company achieve diversification of around 30% beyond Pune. 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.
The embedded earnings before interest, tax, depreciation, and amortisation (EBITDA) margin for the last financial year (FY24) was 26%, and the company is confident of improving it this year. For FY25, the company is confident of launching around ₹8,000 crore worth of projects, with pre-sales guidance of ₹3,500 crore and ₹4,500 crore for FY26.
Kolte-Patil Developers is a leading real estate developer in Pune, with a strong track record of delivering quality projects. The company has a diversified portfolio of projects across Pune, Mumbai, and Bengaluru.
Kolte-Patil Developers is a reputed real estate developer with a presence in Pune, Mumbai, and Bengaluru. The company is known for its commitment to quality, customer satisfaction, and timely delivery of projects.
Frequently Asked Questions
What is the expected average realisation for Kolte-Patil Developers in FY25?
₹8 000 per sq ft
What is the company's diversification target beyond Pune?
40% in the next two years
What is the company's pre-sales guidance for FY25?
₹3 500 crore
What is the company's target for launching new projects in FY25?
₹8 000 crore worth of projects
What is the company's current market capitalisation?
₹3 612 crore
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