With robust Q4 FY22 results, Kolte Patil is confident of growing its Topline by 25-30% in FY23

With the IT boom and Salary hikes, the Real Estate sector is on the verge of revamping itself from its low sales. Leveraging this, Kolte Patil’s total income rose to Rs 380.99 crore in Q4 FY 2022 from Rs 244.7 crores in Q3 FY2022, while the The Net profit stood at Rs.26.82 crores from Rs 5.37 thereby registering a growth of ~400% from the previous quarter. Interestingly, the company’s EBITDA grew by 0.38% to 45.39 crore in March 2022 while the EPS increased to Rs. 3.53 in March 2022. Not only this but they have further strengthened their balance sheets by reducing their Net Debt by Rs. 179 crore during FY22 and by Rs. 41 crore during Q4FY22. This has brought down the company’s Debt to equity at 0.14 times. Their Mumbai portfolio reported the best ever performance and the company is further looking forward to increasing their Mumbai portfolio. The management further anticipates delivering 25-30% sales value growth in FY23. And expects to launch the pipeline projects worth Rs 4000 crores that currently include a saleable area of 5.4 million square feet during the same period.