HDFC Securities: Kolte Patil Developers - All Eyes On Launches
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HDFC Securities Report
Kolte Patil Developers Ltd.’s relative underperformance continued in Q2 FY21 with pre-sales of 0.35 million square feet (down 30% YoY, up 13% QoQ), at a value of Rs 1.9 billion.
Life Republic project in Pune continues to dominate the pre-sales (29% of pre-sales).
Collections were also lower-than-expected at Rs 2 billion (down 35% YoY).
On the positive side, labour availability has improved to 80% and collections in October (Rs 1.1 billion) were at pre-Covid-19 level.
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