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Realty firm Kolte-Patil Q3 sales bookings jump 77% to Rs 561 cr

Pune-based Kolte-Patil Developers Ltd on Wednesday reported a 77 per cent jump in its sales bookings to Rs 561 crore for the quarter ended December.

Real Estate  | sales

Press Trust of India  |  New Delhi 

Embassy is in the final lap of merging with Indiabulls Real Estate to create a large combined entity which will spearhead its residential ventures in the country.

Pune-based Kolte-Patil Developers Ltd on Wednesday reported a 77 per cent jump in its bookings to Rs 561 crore for the quarter ended December.

Its bookings stood at Rs 317 crore in the year-ago period.

In a statement, the company said its bookings rose 83 per cent to Rs 1,238 crore during the April-December period of the 2021-22 fiscal year from Rs 676 crore in the year-ago period.

Commenting on the update, Rahul Talele, Group CEO of Kolte-Patil Developers Ltd, said, "Sales traction remains promising across our key markets and product categories..."

Going forward, he said the company is geared up to scale its operations while maintaining financial discipline.

"We are set to expand our portfolio of projects with several launches lined up across key micro-markets in Pune, Mumbai and Bengaluru," Talele said.

The company continues to evaluate several business development opportunities to expand its market share.

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.

The company markets its projects under two brands: 'Kolte-Patil' (addressing the mid-income segment) and '24K' (addressing the premium luxury segment).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 12 2022. 20:47 IST