58 per cent growth in sales: This small-cap company reports robust Q1FY24 operational update!
The company has delivered returns of 48 per cent over the past year and returns of 174 per cent over the past 3 years.
Kolte-Patil Developers Ltd (KPDL) is a trusted real estate company with a strong presence in the Pune residential market and expanding reach in Mumbai and Bengaluru. Known for high quality standards, unique designs, and timely project delivery, KPDL has completed over 58 projects across Pune, Mumbai, and Bengaluru, covering approximately 26 million square feet. They market their projects under the brands 'Kolte-Patil' and '24K'.
In Q1 FY24, Kolte Patil Developers Ltd achieved sales value of Rs 701 crore, indicating a 58 per cent YoY growth. Notably, they launched approximately 1.38 million sq. ft. in Pune, including the 24K Altura project in Baner and the Arezo-JKD project in Life Republic township, Hinjawadi. The strong volumes were driven by new launches and existing inventory. New launches accounted for around 43 per cent of the pre-sales value in the quarter.
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KPDL's flagship project, Life Republic, recorded sales volumes of 0.52 million sq. ft. Realizations improved by 4 per cent YoY to reach Rs 7,545 per square foot, with significant contributions from the 24K Altura project. The company's focus on sales, registrations, construction, and customer relationship management translated into robust collections during the quarter.
The company has delivered returns of 48 per cent over the past year and returns of 174 per cent over the past 3 years.
On Wednesday, shares of the company plunged by 1.92 per cent and traded at Rs 377.80.
Investors should keep a close eye on this buzzing stock.