Realty firm Kolte-Patil Developers Ltd on Thursday said the company recorded the highest ever annual pre-sales of 3.27 million square feet valued at Rs 2,232 crore for FY23.

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During the quarter, the company recorded sales of Rs 704 crore, registering a growth of 41 percent on a year-on-year basis, Kolte-Patil Developers said in an exchange filing

Overall realisations improved by 13 percent on the back of higher ticket size offerings and robust customer demand. Also, strong volume growth of 25 percent further contributed to the sales numbers for the quarter.

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The company said the collections at the highest-ever levels for the year and quarter, at Rs 1,902 crore and Rs 589 crore, respectively, support healthy cash-flow generation which can be deployed for new business development, thereby supporting judicious capital structure with low debt.

It launched over 3 million square feet across projects in Pune and Mumbai — these new launches contributed 51 percent to the pre-sales value for the year.

Rahul Talele, Group CEO of Kolte-Patil Developers, said the company continues to see strong demand traction across projects and geographies, which is particularly encouraging given the interest rate hikes through the course of the year.

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"Some projects, including Sound of Soul at our flagship township project at Life Republic, were fully sold out within one-quarter of launch. 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," he added.

It has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes, and IT parks, covering a saleable area of around 23 million square feet across Pune, Mumbai, and Bengaluru.

The company markets its projects under two brands — "Kolte-Patil" for the mid-income segment and "24K" to cater to the premium luxury segment.