KOLTE PATIL DEVELOPERS
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.