Sujay Kalele, Kolte Patil's chief executive officer, says the land parcel in Kondwa has a development potential of 1.5 million square feet and is likely to garner Rs 700-800 crore for the company in 3-4 years.
Realty developer Kolte-Patil acquired a 30 acre land parcel in Kondwa, Pune in partnership with ASK Real Estate. This deal is expected to garner Rs 100-150 crore to the company's FY15 topline, says Sujay Kalele, Kolte Patil's chief executive officer.
Speaking to CNBC- TV18, Kalele says the land parcel has 1.5 million square feet development potential and will be launched in Q1FY15 itself.
"We have already obtained all the approvals for the project. This will lead to a revenue of Rs 700-800 crore over the next 3-4 years and we have a 50 percent share in it," explains Kalele.
Kalele expects to earn realizations to the tune of Rs 5000-6000 crore in the current market.
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Kolte-Patil stock price
On April 02, 2014, at 09:20 hrs Kolte-Patil Developers was quoting at Rs 101.95, up Rs 3.40, or 3.45 percent. The 52-week high of the share was Rs 109.00 and the 52-week low was Rs 49.40.
The company's trailing 12-month (TTM) EPS was at Rs 8.20 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 12.43. The latest book value of the company is Rs 100.27 per share. At current value, the price-to-book value of the company is 1.02.
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Pune deal to aid topline by Rs 150 cr in FY15: Kolte-Patil
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