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Kolte Patil Developers reported a consolidated net profit of INR 10.34 crore for Q2 FY25, rebounding from an INR 26.23 crore loss in the same quarter last year. The company's income grew by 56.67% to INR 320.96 crore. Group CEO Atul Bohra highlighted record pre-sales of INR 770 crore, driven by strong demand, especially in the premium 24K segment. Collections reached INR 550 crore for Q2, supported by efficient project execution. Bohra expressed optimism about upcoming project launches and the sector's growth potential, anticipating stable progress as a result of a robust project pipeline, strong cash flows, and customer trust.
Kolte Patil Developers reported a net consolidated profit after tax of INR 10.34 crore for the quarter ending September 30, 2024, marking a significant turnaround from the INR 26.23 crore loss recorded in the same period last year, according to a BSE filing. The company's total consolidated income for Q2 FY25 reached INR 320.96 crore, reflecting an impressive 56.67% growth compared to INR 204.86 crore in Q2 FY24. Advertisement
Atul Bohra, Group CEO of Kolte Patil Developers, expressed pride in the company's performance, highlighting a record-setting Q2 FY25 with pre-sales of INR 770 crore, setting a new growth benchmark. He credited the company's diverse portfolio across various segments as a key factor driving this exceptional growth trajectory. The luxury 24K segment made a significant contribution, accounting for 30% of the quarter's pre-sales, highlighting the sustained demand for premium, aspirational living spaces and a clear preference for high-quality residences.
The company also reported INR 550 crore in collections during Q2 FY25, with total collections for H1 FY25 reaching a record INR 1,162 crore. Strong sales and efficient project execution have driven this performance. Looking forward, Bohra expressed optimism about the company's prospects, citing a strong pipeline of new launches in the second half of the fiscal year. These launches span a range of micro-markets and, along with existing inventory, position Kolte Patil well to meet its ambitious growth targets.
As of September 30, 2024, Kolte Patil's net worth stood at INR 720.93 crore, with a debt-equity ratio of 1.73, a current liability ratio of 0.97, a total debt-to-total assets ratio of 0.24, an operating margin of 5.25%, and a net profit margin of 3.22%. The company's net debt, as of the same date, amounted to INR 58 crore, indicating a strong financial position.
Recently, the company's debenture allotment committee issued 13,377 Series III fully secured, listed, redeemable, and non-convertible debentures, each valued at INR 1 lakh and totalling INR 133.77 crore. The company privately placed these debentures with Japan's Marubeni Corporation, assigning a tenure of 120 months unless redeemed earlier.
Bohra noted that promising trends are currently boosting the real estate sector, especially within the mid-premium and premium segments. He anticipates that a potential easing of interest rates will further strengthen demand in these segments. Bohra expressed confidence that the company's high-potential project portfolio, strong cash flow, and deep customer relationships position it well to seize growing market opportunities. Looking ahead to the remainder of FY25, he asserted the company's commitment to delivering sustainable, long-term value for its stakeholders.
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