INDIAN NEWS & TIMES

Monday, January 30, 2023

Mr. Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “I am happy to report highest ever quarterly pre-sales of Rs. 716 crore, marking a growth of 95% QoQ and 28% YoY. This growth has been achieved on the back of firm realizations and highest ever quarterly sales volumes which improved 102% QoQ and 31% YoY. Our performance in Q3 was marked by significant contribution from new launches and continued momentum of customer traction in our existing, sustenance phase projects.

It is heartening to see the overwhelming response that we received for new project launches that contributed ~57% to the pre-sales numbers for the quarter. This keeps us on track to deliver 30% growth in pre-sales for FY23. In an important milestone at our flagship project, Life Republic, we crossed the 1 million mark in volumes during 9M FY23 and for Q3 FY23 we recorded sales volumes of 6.62 lakh sq.ft., highest ever in any one quarter.

Housing demand has been resilient across key markets, backed by improved affordability parameters from the longer-term perspective and persistence of flexible, hybrid work formats. With increased consolidation and formalization of the sector, buyers and land owners are turning to quality developers and Kolte-Patil is well positioned to capitalize on the opportunities with focus on delivering value across the entire ecosystem of stakeholders.”