Kolte Patil Developers Ltd Research Tear Sheet Q4 FY2022

Kolte Patil Developers Ltd is an Indian real estate company. It was incorporated in 1991. The headquarter is located in Pune. The company focuses on high quality standards, design uniqueness and transparency. It is listed both on BSE and NSE. The projects include residential complexes, integrated townships, commercial complexes and IT Parks mainly in Pune, Mumbai and Bengaluru.

Financial Highlights

Financials	Q4 FY2022	Q3 FY2022
Total Income	₹ 380.99 crs	₹244.70 crs
Net Profit	₹26.82 crs	₹5.37 crs
EPS	₹ 3.53	₹ 0.71

Net Sales improved by 27.02% to Rs 376.07 crore.

Total income rose to Rs 380.99 crore in Q4 FY 2022.

The Net profit / (loss) stood at Rs.26.82 crores.

EBITDA grew 0.38%to 45.39 crore in March 2022.

EPS has increased to Rs. 3.53 in March 2022.

Performance in FY 22

Total Collection increased by 40% YoY to Rs. 1,574 crore.

Sales Volumes stood at 2.71 msf in FY22.

Operating cash flows stood at Rs. 508 crores in FY22.

Outlook for FY23

Anticipates delivering 25-30% sales value growth in FY23.

Expects to launch the pipeline projects that currently include a saleable area of 5.4 million square feet.

Anticipates more than 3 million square feet of customer handovers in  FY23.

Management talks

“In addition to the growth in business, we are seeing higher diversification that has resulted in almost 32% of sales by value coming from Mumbai and Bengaluru. Our Mumbai portfolio has reported its best ever performance with a sales value of ~Rs. 450 crore, up 150% YoY. Verve and Vaayu have performed well and witnessed improved realisations. Mumbai portfolio is moving as per plan, and will continue to scale in the coming years with increased launches and business development activity.”

Mr. Rahul Talele, Group CEO

Management Updates

There is a strong reduction in Net Debt by Rs. 179 crore in FY22 and by Rs. 41 crore in Q4FY22.

Net Debt/Equity ratio stood at 0.14x.

The company has declared dividend of Rs. 2 per share of the face value of Rs. 10.