Kolte-Patil Developers Limited Q4 and FY24 Earnings Conference Call Summary
Overview
• Date of Call: May 24, 2024
• Submission Date: May 31, 2024
• Participants: Group CEO Rahul Talele, Dipti Rajput, and various analysts
Economic Impact
• Positive effects of India's economic growth on real estate.
• Significant increase in demand for residential properties.
Financial Performance
• Presales: Record of INR 2,822 crore for FY24.
• Collections: INR 2,070 crore for FY24.
• Sales Volume: 20% year-over-year increase.
• Revenues: INR 526.4 crore for Q4; INR 1,371.5 crore for FY24.
• EBITDA: INR 51.1 crore.
• Net Loss: INR 69.4 crore after minority interest.
• Net Debt: Improved to INR -25 crore from INR 112 crore.
• Operating Cash Flow: INR 167 crore for Q4; INR 435 crore for FY24.
• Dividend: Final recommendation of INR 4 per share.
Future Projections
• Target for FY25: Acquire projects with a topline potential of INR 8,000 crore.
• Anticipated cumulative sales: Approximately INR 13,500 crore over the next three years.
Margin Concerns
• Current margins reported at 3.7% for FY24.
• Expected improvement in margins with future projects.
• Discussion on revenue recognition upon project completion.
Project Launches
• Achieved INR 3,800 crore in launches against a target of INR 5,000 crore for FY24.
• Two projects launched in April and May 2024.
Analyst Inquiries
• Concerns raised about:
• Business development targets and performance.
• Overhead costs and profitability.
• Embedded EBITDA margins and project timelines.
• Responses emphasized confidence in project pipeline and strategic planning.
Strategic Focus
• Emphasis on balancing price realization with volume.
• Cautious approach to business development amidst market cycles.
• Long-term project visibility in Mumbai and Pune.
Conclusion
• Optimistic outlook for the residential sector.
• Commitment to ongoing engagement with stakeholders and addressing concerns.

Kolte-Patil Developers Limited Q3 and 9M FY24 Earnings Conference Call Summary
Date and Participants
• Date: February 2, 2024
• Call Date: January 25, 2024
• Key Speakers:
• Rahul Talele (Group CEO)
• Dipti Rajput (Vice President of Investor Relations)
Positive Outlook for Real Estate
• Increased sales volumes and government support for affordable housing.
• Significant year-on-year growth in new area sales and customer collections.
• Acquisition of new projects in the Mumbai Metropolitan Region.
• Targeting pre-sales guidance of Rs. 2,800 crore for FY24.
Financial Highlights
• Revenues: Rs. 845.1 crore for the nine-month period.
• Net Debt: Rs. -32 crore as of December 31, 2023.
Business Development Pipeline
• Current Launches: 4 million square feet launched; additional 2 million square feet planned.
• Future Expectations: INR 6,000 to INR 8,000 crores in closures expected next financial year.
Realization Growth
• Anticipated 10% annual improvement in realization, with potential for higher growth from upcoming Mumbai projects.
• Significant price hikes in luxury residential sectors.
Geographic Focus
• Current Focus Areas:
• 70% in Pune
• 20% in Mumbai
• 10% in Bengaluru
• New project "Raaga" planned for Bangalore.
Sales Guidance and Strategy
• Cautious approach to sales guidance of INR 2,800 crores despite strong launch pipeline.
• Pricing strategies vary by project, with confidence in achieving sales targets.
Project Execution Capacity
• Addressing labor shortages through innovative methods and long-term contracts.
• Efficient site management and adherence to regulatory timelines.
EBITDA Margins and Revenue Projections
• Expected gradual improvement in EBITDA margins from early teens to late teens over the next two years.
• Revenue projections for FY25 and FY26 estimated at INR 1,600 to 1,700 crores.
Pricing Strategy and Future Developments
• Focus on mid-segment MIG products and luxury project launches.
• Target of over 2 million square feet in presales from luxury projects over the next four to five years.
• Revenue guidance of INR 1,500 crores for FY'24 and INR 1,600 crores for FY'25, with potential positive deviations in FY'26.
Conclusion
• The call concluded with an invitation for further questions and best wishes for the upcoming Republic Day.

Kolte-Patil Developers Limited Q2 & H1 FY24 Earnings Conference Call Summary
Conference Call Overview
• Date: November 7, 2023
• Participants: Group CEO Rahul Talele, VP of Investor Relations Dipti Rajput
• Focus: Operating and financial performance
Market Outlook
• Positive outlook for Indian real estate market
• Growth driven by structural reforms and increased demand
• Significant growth in new area sales:
• 63% increase in H1 FY24
• 75% increase in Q2 YoY
Financial Performance
• Q2 Revenues: Rs. 198.2 crore (up from Rs. 123.3 crore in Q2 FY23)
• H1 Revenues: Rs. 769.3 crore
• EBITDA:
• Q2: Rs. 3.5 crore
• H1: Rs. 94.6 crore
• Net Loss in Q2: Rs. 25.3 crore
• Net Profit in H1: Rs. 20.6 crore
• Strong net debt to equity ratio: 0.05x
• Operating cash flow for H1: Rs. 182 crore
Business Development and Sales
• Strong business development pipeline, especially in Pune and Bangalore
• Estimated inventory available for sale: Rs. 8,000 to Rs. 9,000 crore
• Confidence in meeting pre-sales guidance and better price realizations
• Recent launches contributed to 55% of first-half sales (Rs. 700-750 crore)
Project Launches and Strategies
• New project in Bangalore with potential revenue of Rs. 150 crore
• Upcoming launches in Mumbai (Vashi, Goregaon, Mulund)
• Focus on diversifying beyond Life Republic project
• Anticipated project deliveries for FY25: Rs. 2,000 crore
Redevelopment Opportunities
• Focus on society redevelopment projects in Mumbai
• Successful acquisitions in Goregaon
• Evaluating cluster redevelopment opportunities
Cost Management and Future Outlook
• Strategic project launches in phases to manage rising raw material costs
• Long-term procurement contracts to stabilize costs
• Inventory pricing strategy to enhance price realizations
• Expected EBITDA margins for township projects: 28% to 40%
Conclusion
• Management remains optimistic about future performance and project timelines
• Invitation for further questions and well wishes for Diwali

Kolte-Patil Developers Limited Q4 FY23 Earnings Conference Call Summary
Company Overview
• Date of Call: May 26, 2023
• Submission: Transcript submitted on June 2, 2023, to NSE and BSE.
• Key Speaker: Group CEO Rahul Talele.
Economic and Market Outlook
• Positive outlook for the Indian economy and real estate market.
• Significant increase in pre-sales: Rs. 2,232 crore for FY23.
• Strategic expansion in Mumbai and Pune with new project launches.
Financial Performance
• Q4 FY23 Revenues: Rs. 797 crore (112% YoY increase).
• FY23 Revenues: Rs. 1,488.4 crore.
• Q4 EBITDA: Rs. 173.4 crore; FY23 EBITDA: Rs. 189.3 crore.
• Strong net debt-to-equity ratio: 0.11.
• Operating cash flow: Rs. 215 crore (Q4) and Rs. 529 crore (FY23).
Future Projections
• Targeting sales of Rs. 2,800 crore and cumulative top line of Rs. 8,000 crore in FY24.
• Plans to launch approximately 3 million square feet in FY24.
• Focus on maintaining strong financial health and customer satisfaction.
Project Approvals and Launches
• 7-8 projects currently have approvals for planned launches.
• Baner and Pimple Nilakh projects fully approved.
• Anticipated delays due to approval processes but optimistic about launches.
Redevelopment and Premium Projects
• Strategic expansion into Central and Navi Mumbai with partial approvals for the B3 project.
• Strong demand for premium projects, particularly the 24K series.
• Plans to focus 25%-40% of business development on premium projects.
Revenue Realization and Pricing Trends
• Revenue realization trends show an increase from Rs. 6,400 to Rs. 6,800 per square foot.
• Life Republic's residential prices around Rs. 5,500 to Rs. 5,600 per square foot.
Business Development and Market Segments
• Strong interest from middle and high-income groups, particularly in spacious units.
• Minimal investor demand noted.
• Focus on strengthening presence in Pune while remaining niche in Bangalore.
Delivery Expectations
• Delivered over 3 million square feet in FY23; similar delivery expected in FY24.
• Business development pipeline valued at approximately Rs. 8,000 crore.
• Pre-sales guidance for FY24 set at Rs. 2,800 crore, translating to around 4 million square feet.
Conclusion
• Management expressed confidence in achieving project-level margins and sustaining sales growth through new launches.

Kolte-Patil Developers Limited Q3 and 9M FY23 Earnings Conference Call Summary
Submission Details
• Date of submission: February 14, 2023
• Call date: February 7, 2023
• Directed to: National Stock Exchange of India and BSE Limited
• Key executives present: Group CEO Rahul Talele
• Compliance: SEBI regulations
Financial Performance Highlights
• Q3 FY23 Sales:
• Record sales value: Rs. 716 crore (28% YoY increase)
• Sales volume: 1.13 million square feet (31% YoY increase)
• Nine Months FY23 Sales:
• Total sales value: Rs. 1,528 crore (up from Rs. 1,238 crore YoY)
• New Projects:
• Six new projects launched in Pune and Mumbai
• Total launched area: 2.77 million square feet with potential topline of Rs. 1,960 crore
Strategic Insights
• Partnerships:
• Collaboration with Marubeni Corporation for residential projects
• Market Focus:
• Emphasis on housing demand in Tier 2 and Tier 3 cities
• Business Development:
• Strong pipelines in Mumbai and Bengaluru
• Increase in referral sales from 3-5% to 15%
Financial Guidance and Projections
• Revenue Recognition:
• Expected alignment with previous guidance
• Anticipated significant revenue recognition in Q4
• Future Projects:
• Plans to launch 6.2 million square feet in the next 3-4 months
• Revenue Expectations:
• Projected revenue of Rs. 3,000 crore over FY23 and FY24
Land Bank and Inventory
• Land Bank Value:
• Rs. 15,000 crore available outside Life Republic project
• Life Republic project valued at Rs. 11,000 crore
• Deliveries:
• 2.7 million square feet of deliveries confirmed with average realization of Rs. 5,000 to Rs. 5,200
Q&A Highlights
• Land Inventory:
• 0.69 million square feet consists of completed deals
• Revenue Recognition Delays:
• Timing dependent on project structures and customer agreements
• Cash Flow and Debt Strategy:
• Current net debt to equity ratio: 0.2, with plans to leverage up to 0.5 as needed
Conclusion
• The call concluded with appreciation for participant engagement and confidence in achieving pre-sales targets and growth plans.