Kolte Patil Developers to launch 45 lakh sq ft space in 12 months with Rs 4,150 cr sales potential
New Delhi: Despite major slowdown in the realty sector, Pune-based Kolte Patil Developers Ltd (KPDL) plans to launch about 45 lakh square feet of saleable area in various project in the next twelve months having sales potential of Rs 4,150 crore.
The launches will be in all the three cities where the company is present at the moment-Pune, Bengaluru and Mumbai. This sales potential of Rs 4,150 crore is KPDL’s share as some of the project will be launched in association with other companies and local partners and there will be their economic share also.
While some of the launches that are planned will be in residential segment, the other will, be in commercial/retail segment. The company plan to launches about 5 lakh square feet in Mumbai in residential/retails projects. Another 2.5 lakh square feet is planned in Bengaluru in a residential project. The majority share of the new launches are planned in Pune where the company will add around 37 lakh square feet in some residential/retail and some commercial projects.
The company has reported a net loss of Rs 27 crore in the first quarter of the current fiscal as compared to a net profit if Rs 130 crore in the same quarter of the last fiscal. It achieved sales volume of 3 lakh square feet in the latest quarter as compared to about 5 lakh square feet in the same period of previous fiscal. The average price realisation went down to Rs 5,228 per square feet in the latest quarter as compared to Rs 5,616 per square feet in the same period of the last fiscal.
The company sold a total of 27 lakh square feet of space in fiscal 2018-19 having a sales value of Rs 1,432 crore as against 25 lakh square feet in 2019-20 fiscal having a sales value of Rs 1,315 crore, according to its investors presentation prepared recently. However, the collections went up to Rs 1,368 crore in the last fiscal as compared to Rs 1,247 crore in the previous fiscal.
In the last fiscal, about half of the sales of residential properties was of 2BHK type and about a third of the total sales was of 3BHK type.