HDFC Securities: Kolte Patil Developers Posts Weak Q1; Valuation Affordable

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Report.Kolte Patil Developers Ltd. reported operationally weak Q1 FY21 with pre-sales of 0.31 million square feet (0.67/0.51msf QoQ/YoY), for a presales value of Rs 1.64 billion.Life Republic project in Pune continued to garner strong response (45% of pre-sales). Loss of Rs 312 million was driven by fixed cost absorption on lower revenue and low margin projects in mix.Covid-19 shutdown for the most part of April and May-2020 also impacted revenue recognition.Q1 FY21 collections dipped as expected, and stood at Rs 1.05 billion (versus Rs 3.8 billion/3.6 billion QoQ/YoY).Proceeds of Rs 450 million (of Rs 910 million total) from strategic land monetisation has kept liquidity from deteriorating.Delay in demand recovery due to Covid-19 is a key risk to our estimates. No change in FY21/22 estimates..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

HDFC Securities: Kolte Patil Developers Posts Weak Q1; Valuation Affordable

HDFC Securities: Kolte Patil Developers Posts Weak Q1; Valuation Affordable

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