Sales volume rose 25% to 0.97 million square feet in Q4 FY23 from 0.78 million square feet in Q4 FY22.

The company's sales value and sales volume declined 2% and 14%, respectively, as compared with Q3 FY23.

Realization was at Rs 7,225 per square feet, recording a growth of 13% YoY and 14% QoQ due to higher ticket size offerings and robust customer demand;

Collections was higher by 18% YoY and 35% QoQ during Q4 FY23 to Rs 589 crore support healthy cash flow generation which can be deployed for new business development.

The company said that it has launched over 3 million square feet projects across Pune and Mumbai. The new launches contributed approximately 51% to pre-sales value for the year, KPDL's flagship project, Life Republic integrated township in Pune achieved highest ever volumes of 1.76 million square feet in FY23 .

Rahul Talele, group chief executive officer (CEO), Kolte-Patil Developers, said, “We continue to see strong demand traction across projects and geographies, which is particularly encouraging given the interest rate hikes through the course of the year. This is reflected in new project launches, which accounted for approximately 51% of our pre-sales numbers for the financial year.

I am delighted to share that our performance at Life Republic is reaching new highs as we closed the year with record sales of 1.76 million square feet. We also reported highest ever collections of Rs 1,920 crore for the year, which was achieved on the back of timely project execution. Deliveries stood strong at approximately 3.3 million square feet.

The sector continues to benefit from the tailwinds and now with interest rates stabilizing, we are witnessing improved customer sentiment and strong propensity to buy from trusted brands resulting in further consolidation in the sector.”

The Kolte-Patil Developers group is one of the largest residential real estate developers in Pune. The company has a healthy project portfolio of affordable and mid-income, and luxury residential segments through its brands, Kolte-Patil and 24K, respectively, and is expanding its presence in Bengaluru and Mumbai. The group has developed around 23 million square feet of projects, and currently has 25 ongoing projects comprising around 13 million square feet.

The company reported a consolidated net loss of Rs 28.10 crore in Q3 FY23 as against a net profit of Rs 7.11 crore in Q3 FY22. Revenue from operations increased 53% YoY to Rs 368.08 crore in Q3 FY23.

The scrip slipped 2.09% to Rs 255.05 on the BSE.