Q3FY22 Quarterly Result Announced for Kolte-Patil Developers Ltd.
Realty firm Kolte-Patil Developers declares Q3FY22 result: Highest Quarterly Sales Value in the last seven years – Rs. 561 crore, up 77% YoY Highest Quarterly Sales Volume in the last seven years – 0.86 msf, up 56% YoY 9M FY22 Sales Value of Rs. 1,238 crore, 83% YoY 9M FY22 Mumbai Sales Value of Rs. 321 crore, up 255% YoY Net Debt reduction of Rs. 42 crore during Q3 FY22 and Rs. 138 crore during 9M FY22 Commenting on the performance for Q3 & 9M FY22, Mr. Rahul Talele, Group CEO, KoltePatil Developers Limited said, “We have hit significant sales milestones in Q3 FY22, which has been our best-ever quarter in the last seven years both in terms of sales volume and value. Sales value in the quarter at Rs. 561 crore, improved 77% YoY and 31% QoQ; while sales volumes in Q3 FY22, at 0.86 msf, improved 56% YoY and 28% QoQ. We have now achieved sales value of Rs.1,238 crore in 9M FY22, which is more than the full year sales value of Rs. 1,201 crore for FY21. Overall, our business has the momentum to end FY22 on a strong note. Sales traction has been strong across the markets of Pune, Mumbai and Bengaluru as well as across product categories. Life Republic continues to be a landmark, and has been the top selling project in the entire Pune market in CY21. During the quarter, we successfully launched R16M and R1C sectors at Life Republic. Overall at Life Republic we have sold 470 units and at Universe we have sold 264 units during Q3. Further, Equa at Wagholi launched during the end of December has witnessed a healthy response, despite the onset of the third wave. Our robust sales machinery and brand equity is getting increasing recognition not only in Pune but in Mumbai and Bengaluru as well. Our diversification story continues to play out well, with Mumbai portfolio contributing on up to 25% of total sales value. Mumbai region reported sales value of Rs. 143 crore in Q3 FY22, as against Rs. 57 crore in Q3 FY21, on the back of an uptick in Verve and sustained momentum in Vaayu. Mumbai also contributed Rs. 321 crore to Sales Value in 9M FY22, significantly higher than full year Mumbai Sales Value of Rs. 180 crore in FY21. Bengaluru also recorded sales value Rs. 30 crore in Q3 FY22, taking the contribution from projects outside Pune to ~31% during the quarter. The third wave has not impacted workforce materially so far and construction continued at a healthy pace. An improved momentum in sales, registrations, construction and CRM drove Q3 FY22 collections up 10% YoY and 13% QoQ to Rs. 421 crore. The liquidity in our business operations further strengthened, resulting in reduction of Rs. 42 crore in net debt. We have reduced our net debt by Rs.138 crore in 9M FY22. Our net debt to equity stands at 0.19 as on December 31, 2021. Going forward, KDPL is geared up to scale its operations while maintaining a strong balance sheet. We have a robust pipeline of launches for the next few quarters across our three core markets with aggregate saleable area of ~5.38 million sq.ft. and aggregate topline potential of ~Rs. 4,600 crore. Further, we are evaluating several business development opportunities in line with our aggressive growth objectives. The focus remains on creating many more performance records and enhance value for all our stakeholders.” Result PDF09-02-2022