Flash News Investment - - RECOMMENDATIONS -

Kolte-Patil De­vel­op­ers is a player form realty sec­tor and has till date built pro­jects in mul­ti­ple seg­ments such as res­i­den­tial, com­mer­cial, re­tail, IT parks, and in­te­grated town­ships. The com­pany de­liv­ered ro­bust per­for­mance in FY17, show­ing a topline growth of 28 per cent YoY to Rs 966 crore and an in­crease in net profit by 48 per cent YoY to Rs 87 crore. This prof­itable growth was due to the com­pany main­tain­ing sales vol­ume of around 2.1 mil­lion square feet of new pre-sales. The gov­ern­ment's ini­tia­tives such as af­ford­able hous­ing seg­ment, ex­ten­sion of in­come tax ben­e­fits up to 60 square me­tre sized apart­ments, im­ple­men­ta­tion of RERA and GST would be ben­e­fi­cial for the com­pany. The man­age­ment ex­pects growth of 15-18 per cent in rev­enue and prof­its, in the up­com­ing 2-3 years. Thus, we rec­om­mend our read­ers to BUY the scrip.

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