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Realty firm Kolte-Patil Developers Ltd’s sale bookings declined 15 per cent to ₹631 crore in the fourth quarter of last fiscal on lower volumes.
Its sale bookings stood at ₹743 crore in the year-ago period.
Sale bookings in volume terms fell 23 per cent to 0.8 million square feet during January-March quarter of 2024-25 from 1.03 million sq ft in the corresponding period of the preceding year, according to a regulatory filing on Thursday.
During the full 2024-25 fiscal, Kolte-Patil Developers Ltd fell marginally by 1 per cent to ₹2,791 crore from ₹2,822 crore in the preceding fiscal. Sales volume declined 8 per cent to 3.60 million square feet from 3.92 million square feet, but average realisation rose 8 per cent to ₹7,758 from ₹7,193 per square feet.
Pune-based Kolte-Patil Developers Ltd is one of the leading real estate firms in the country.
Atul Bohra, Group CEO of Kolte-Patil Developers, said, “During FY25, we recorded milestone collections of ₹2,432 crore, reinforced by operating efficiency, strong registrations, sales, construction and customer engagement. Sales at ₹2,791 crore remained muted, impacted by delay in the planned project launches.”
New launches contributed around 42 per cent to overall sales bookings, he added.
In March this year, Kolte-Patil Developers announced that Blackstone would acquire a 40 per cent stake in the company for ₹1,150 crore.
Blackstone affiliated firm will acquire a 14.3 per cent stake for ₹417 crore through a preferential issue of equity shares and another 25.7 per cent stake from the promoters group ₹Rs 750 crore.
Global investment firm Blackstone will be entering into Indian residential market after having a significant exposure in office, shopping mall, warehousing and data centre verticals of real estate.
Published on April 18, 2025
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