July 19, 2023

Kolte Patil Developers Achieved a Sales Record of Rs. 701Cr in Q1 FY24

Pune-based real estate Kolte Patil Developers have achieved a sales target of Rs 701 cr in the first quarter of the financial year 2024 (Q1 FY24). An increase of 58% is estimated and the company’s sales volumes for the quarter is at 0.93 million square foot.

As per sources, the company attained a sales value of over Rs 700 cr third time consecutively and a remarkable launch of 1.38 million sqft in Pune. Here names of the two important projects of Pune located in Hinjwadai- the 24K Altura project in Baner and the Arezo-JKD project.

As compared to Q1 FY23, Q1F24 shows that the company’s collections stood at Rs 513 crore

witnessing an 8% rise YOY. Thus 4% YOY was improved by reaching Rs 7,545 per sq. ft by significant contributions from the 24K Altura Project in Baner.

“58%  sales improved by value and 52% by volume over Q1 FY23, which comes across with new launches and ongoing projects,” stated Rahul Talele, Group CEO of Kolte-Patil Developers Limited. Two projects in Mumbai with a topline potential of Rs. 1,200 crore and two projects in Pune with a topline potential of Rs. 1,300 crore were acquired by us in May 2023, respectively.

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