Kolte-Patil Developers FY22 sales bookings up 45% to record Rs 1,739 crore

Realty firm Kolte-Patil Developers Ltd said its sales bookings rose 45 per cent to a record Rs 1,739 crore during the last fiscal year on higher volumes as well as average price realisation

Realty firm Kolte-Patil Developers Ltd on Tuesday said its sales bookings rose 45 per cent to a record Rs 1,739 crore during the last fiscal year on higher volumes as well as average price realisation.

Its sales bookings stood at Rs 1,201 crore in the 2020-21 financial year.

In terms of sales volumes, the company sold 2.71 million square feet in 2021-22 from 2.08 million square feet in the previous year. The average realisation increased 11 per cent to Rs 6,407 per square feet from Rs 5,785 per square feet.

"Achieved Sales Value of Rs 1,739 crore in FY22, up 45 per cent YoY, which is by far the highest ever recorded by the company," Kolte-Patil said in a regulatory filing.

Rahul Talele, Group CEO at Kolte-Patil Developers Ltd, said: "We have ended the year on a strong note with Q4 FY22 being second consecutive quarter with sales value of over Rs 500 crore. The second half of the year has been particularly encouraging, with expanding demand traction driven by growing interest in our projects from customers."

This has helped the company to achieve its best ever sales performance by value with FY22 sales value at Rs 1,739 crore, up 45 per cent Year-on-Year.

Kolte-Patil Developers Ltd has a big presence in the Pune residential market, and is growing its presence in Mumbai and Bengaluru. The company has developed and constructed over 50 projects, including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of around 20 million square feet across Pune, Mumbai and Bengaluru.