Kolte Patil - Strong Launch Pipeline Will Lead To Surpass FY24 Target: Yes Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Kolte Patil Developers Ltd. achieved 36% compound annual growth rate growth for presales in value terms and 25% CAGR for volumes over FY21-23 guided by the strong launches across segment and geographies of its presence. On the back of the strong demand management guided for the Rs 28 billion/Rs 35 billion for FY24E/FY25E respectively (25% CAGR). In Q1 FY24, Kolte Patil already launched ~2.73 million square feet with potential sales of Rs 19.9 billion and further plans to launch another ~4.74 msf (Rs 32 billion) in remaining part of year to comfortably achieve its presales target. To strengthen the launch pipeline further, Kolte Patil tied up six projects (four-Mumbai/two-Pune) with a gross development value of Rs 34.5 billion and targets another Rs 70 billion of business development for the rest of the year. As a part of diversification strategy, contribution to presales value from Mumbai and Bangalore will increase to 30% by FY25E from ~20% in FY23 with the planned launches in both markets. With addition of four projects under society redevelopment in Q1 FY24, Mumbai tallies for 11 projects. Kolte Patil in Q1 FY24 secured Rs 2.1 billion of investment (first tranche) from Marubeni Corporation (Japan) for its Pimple Nilakh project. Kolte Patil is well placed to capitalise the strong demand momentum with net debt/equity of 0.02 times, creditable track record in society redevelopment, leadership position in primary market and strong launch visibility of Rs 256 billion..Click on the attachment to read the full report:.Real Estate - Strong Demand For Residential Sustaining At Underlying Pricing: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Kolte Patil - Strong Launch Pipeline Will Lead To Surpass FY24 Target: Yes Securities

Kolte Patil is well placed to capitalise the strong demand momentum .

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