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These terms and conditions ("WhatsApp Terms and Conditions" as amended from time to time) are applicable to the Customers (defined hereinafter) that avail the Services (defined hereinafter) provided thereon by ICICI Securities Limited ("ICICI Securities") on the WhatsApp platform.

The WhatsApp Terms and Conditions shall be in addition to any other terms and conditions as stipulated by the ICICI Securities from time to time on its website (www.icicidirect.com) whether pertaining to the account or in relation to other products, services or facilities provided by ICICI Securities.

Any services that may be offered to the customer through the WhatsApp platform ("WhatsApp") is at the discretion of the ICICI Securities and/or basis the eligibility criteria of a customer and such services are subject to certain terms and conditions. In case of conflict between any of these WhatsApp Terms and Conditions and the terms and conditions for other services provided on the WhatsApp channel, specific terms and conditions of such services shall prevail.

Further, in case of inconsistency between the WhatsApp Terms and Conditions and any specific terms and conditions pertaining to account or any specific service/product/offer, the specific terms and conditions of that particular service/product/offer shall prevail.

1. DEFINITIONS

"Trading Account" refers to the trading account maintained by the Customer with ICICI Securities.

"Trading Account Related Services" shall mean the Services which pertain to information in relation to the Trading Account maintained with ICICI Securities by customer including but not limited to portfolio valuation, stock quote, order details, trade details etc which are enabled by ICICI Securities, from time to time, at its sole discretion.

"Registered ICICI Securities Number" is the authorized number of ICICI Securities, registered with WhatsApp for the purposes of providing Services herein.

"Customer" shall mean any person holding Trading Account or any prospective customer with ICICI Securities and interacting with ICICI Securities on WhatsApp using the Registered ICICI Securities Number / using the Services provided by ICICI Securities through WhatsApp. "Customer Information" refers to the personal data or information or such other data or information including any sensitive personal data in relation to the Customer such as information in relation to the trading account of the Customer, shared by the Customer or provided to the Customer by ICICI Securities or collected or obtained from the Customer or from WhatsApp or from any such source in the course of the Customer availing the Services hereunder.

"One Way Communication" shall mean the service provided by ICICI Securities to the Customer on WhatsApp where ICICI Securities sends its Customer one-way messages through its Registered ICICI Securities Number in the nature of information, alerts, updates, transaction alerts in relation to the Customer's Trading Account and such other communications as ICICI Securities may enable from time to time, at its discretion.

"Privacy Policy/Privacy Commitment" shall have the meaning as ascribed on the Website; "Service(s)" shall mean the One Way Communication and Two Way Communication services provided by ICICI Securities by itself or through any of its service providers, to a Customer on WhatsApp.

"Two Way Communication" shall mean the service provided by ICICI Securities to the Customers on WhatsApp where the Customer can communicate with ICICI Securities by sending it messages in the form of making requests, seeking information, asking queries etc. on the Registered ICICI Securities Number and where ICICI Securities responds to such messages. However, this service and ICICI Securities responses shall be limited only to such queries, information, requests etc. as may be determined by ICICI Securities from time to time, at its sole discretion.

"WhatsApp" is the application provided by WhatsApp Inc. 1601 Willow Road, Menlo Park, California 94025.

2. INTERPRETATION

All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
Words importing any gender include the other gender. 'We/us' refers to ICICI Securities and 'You/yours' refer to the customer using the WhatsApp facility.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations,amendments, re-enactments or replacements for the time being in force.
All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms and Conditions.
Reference to any law or legislation, regulation, rule shall mean, applicable, constitution, statute, law, rule, regulation, ordinance, judgment, order, decree, authorisation, or any published directive, guideline, notice, requirement or governmental restriction, having the force of law in any jurisdiction and include laws as amended from time to time.

3. PURPOSE

This WhatsApp platform serves as a supplementary medium through which we can communicate with you and provide Services and further enable certain services as ICICI Securities may decide in its sole discretion.

4. ELIGIBILITY FOR USING THE SERVICES

The Customer hereby agrees and undertakes that he/she shall use the Services only if he/she fulfills the eligibility as given below:

The Customer is an individual and is a major;
The Customer is a Guardian of a minor;
The Customer is of sound mind, solvent and competent to contract;
The Customer is a resident of India and is present in the territory of India at the time of utilization of the Services;
The Customer is a non-resident India (NRI) or is residing outside India.
The Customer is Principal Authorised Signatory of the Non Individual Account.

5. APPLICABILITY OF WHATSAPP TERMS AND CONDITIONS

These WhatsApp Terms and Conditions form a contract between the Customer and ICICI Securities. The Customer shall apply to ICICI Securities in the prescribed manner for availing of the Services. By applying and opting in for the Services, the Customer acknowledges that he has read, understood and accepted these WhatsApp Terms and Conditions and other specific terms and conditions as pertaining to the Account and any other products/offers/facilities and services availed by the Customer whether or not through WhatsApp.

No act, delay or omission by ICICI Securities shall affect its rights, powers and remedies under these Terms and Conditions and other terms on ICICI Securities website (www.icicidirect.com), hereinafter referred to as "Website".

The Customer hereby accepts and agrees that all Services and communications (both One Way Communication and Two Way Communication) taking place on WhatsApp, initiated either by ICICI Securities or the Customer, will be governed by and subject to these WhatsApp Terms and Conditions. Further, the Customer hereby agrees that the Customer grants express authority to ICICI Securities for carrying out the Services requested by the Customer on WhatsApp on its Registered ICICI Securities Number. Provided however that ICICI Securities shall not be required to authenticate the Customer, if any request for the Services comes on WhatsApp to ICICI Securities Registered Number, and in case of a Customer, if the number reflected in the requestor's mobile is a Customer's Registered Number, ICICI Securities shall be entitled to presume that it is the Customer itself which is interacting through WhatsApp and in case of any other Customer ICICI Securities shall be entitled to presume that the number reflected in the WhatsApp profile is the Customer's number and it is the Customer itself and not any other person who is interacting with ICICI Securities Registered Number. ICICI Securities's own record or log of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes.

6. SERVICES

The Customer agrees and accepts that ICICI Securities reserves the right to provide only such Services as ICICI Securities may at its discretion permit from time to time. ICICI Securities may also inform/update the availability/non-availability of any particular Service, at its sole discretion. The Customer hereby agrees that ICICI Securities may at any time, without notice to the Customer, modify, discontinue or make additions/deletions to the Services offered to the Customer. The Customer agrees that he shall not hold ICICI Securities responsible for not responding to the queries of/ information sought by the Customer or not providing a response to the satisfaction of the Customer or not processing any request of the Customer, in case such a message sent by the Customer in case ICICI Securities does not receive an instruction to this effect in its systems or the message sent by the Customer is not in the format as required by ICICI Securities or does not fall under the Services being offered by ICICI Securities at the time or ICICI Securities does not receive such a message for technical reasons or otherwise or for any reason whatsoever. ICICI Securities will have no liability in case of any fraud or impersonation incidents through the WhatsApp platform. Further, in case ICICI Securities permits any Service in the nature of a transaction, the Customer agrees that such a Service shall be subject to statutory/ regulatory limits and/or any limits that may be imposed by ICICI Securities, from time to time, at its sole discretion.

7. REGISTRATION AND VERIFICATION

For availing the One Way Communication and Two Way Communication service, the Customer agrees and confirms to have accepted (a) the WhatsApp Terms and Conditions applicable to the Customer for availing the Services mentioned herein; (b) the Privacy Policy of ICICI Securities applicable to the Customer for availing the Services mentioned herein; (c) any other Account/product/service/offer related specific terms and conditions as applicable and (d) all terms and conditions prescribed by WhatsApp for using its platform.

Provided that, ICICI Securities may modify the process for authentication, registration and/or verification of the Customer, for One Way Communication and/or Two-Way Communication, at any time, at its sole discretion.

8. UNSUBSCRIBE

You may choose/request for de-registration/un-subscription of the Services at any point of time by following the process as may be prescribed by ICICI Securities from time to time. Currently ICICI Securities provides the following channels for un-subscription:

Our Website: Visit the WhatsApp un-subscription section on our Website. Enter your mobile number. Enter the OTP received on your registered mobile number and submit.
Missed Call/ SMS to a specific number as updated on the Website.
Send 'STOP' keyword on the WhatsApp platform.

However, the Customer agrees that for this to come into effect, it may take such time as may be required by ICICI Securities. The Customer agrees that he will remain responsible for any requests made/ messages sent to ICICI Securities using the Services prior to the time such cancellation of the Services is effected by ICICI Securities. ICICI Securities will be at liberty to discontinue/ suspend/ terminate the Customer's use of the Services at any time without assigning any reason whatsoever. ICICI Securities may also discontinue or suspend or terminate Services/ facilities without prior notice if these Terms and Conditions are breached.

Once we have received the notification that you have unsubscribed, we will no longer process your information for the purpose(s) you originally agreed to and sent any further notification/message through WhatsApp, unless legally permissible otherwise.

9. IMPORTANT

The Customer shall apply to ICICI Securities for use of the Services (and/or for any changes to the options available under the Services) in such manner and through such modes as may be specified and made available by ICICI Securities from time to time including but not limited to application through forms as prescribed by ICICI Securities, 24-Hour customer care number, SMS if and when made available as permitted modes by ICICI Securities for use of the Services through the WhatsApp platform.
ICICI Securities in its sole discretion shall decide the devices, software platforms, versions, networks, methods, and data services that will be supported by the WhatsApp platform for providing these Services. Any attempts to modify unsupported versions for use in the WhatsApp platform will be treated an unauthorized use and violation ("Unauthorized Use") of these WhatsApp Terms and Conditions. The Services through the WhatsApp platform shall be suspended with immediate effect if there is Unauthorized Use by the Customer.
The Customer agrees that the Customer shall be responsible for upgrading any software, hardware and the operating system at his/her own cost from time to time so as to be compatible to continue to avail the Services offered by ICICI Securities. ICICI Securities shall be at liberty to change, vary or upgrade its software, hardware, operating systems, etc. from time to time and shall be under no obligation to support the software, hardware, operating systems used by the Customer and that the same shall be the Customer's sole responsibility. Some Services may not work on an outdated platform and hence it is Customer's sole responsibility to ensure timely upgradation of the WhatsApp platform.
By subscribing to Services on WhatsApp platform, the Customer agrees to get notifications via WhatsApp including account information, transaction details, and other services/communications. Customer also agrees to receive notifications including offers, new product features, any other important notification sent by ICICI Securities from time to time etc. on the Registered Customer Number via WhatsApp.
The Customer agrees that any Trading Account related Services at the discretion of ICICI Securities shall be provided to the Customers through WhatsApp platform only to a WhatsApp account associated with the Registered Customer Number.
The Customer is aware that it may not be possible for ICICI Securities to give detailed information on the Service/functionalities. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service or with respect to the limited information provided by ICICI Securities on WhatsApp. In case the Customer requires further information, Customer can reach out to ICICI Securities either in the nearest branch, on ICICI Securitiess Customer Care number or through any other channels provided by ICICI Securities.
The responses sent by ICICI Securities on WhatsApp platform (either for One Way Communication and/or Two Way Communication) are based on a program running at back-end. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any answers that the Customer may not find satisfactory or for any inaccuracies arising therefrom, ICICI Securities shall not be held responsible. The Customer may call Customer Care number or email at headservicequality@icicidirect.com or nri@icicidirect.com or visit www.icicidirect.com in case of any clarifications.
The Customer agrees that ICICI Securities and / or its affiliates may hold and process the Customers personal information concerning the account/s on computer or otherwise in connection with the WhatsApp facility. You agree and consent that we may collect, store, use and/or disclose your personal data for the Services as detailed on our Website. The Customer also agrees ICICI Securities may disclose, in strict confidence, to other institutions, its service providers, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive and for fraud prevention. The Customer using the WhatsApp facility authorizes ICICI Securities to collect and use technical information about the equipment and related software, hardware and peripherals and any data and information stored in the equipment, whether internet-based or wireless, to improve ICICI Securities products and to provide services to the Customer.
All records of ICICI Securities generated by the transactions arising out of use of the Services through the WhatsApp platform, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
Where ICICI Securities considers the instructions to be inconsistent or contradictory with any past instructions or any simultaneous instructions provided by Customer to ICICI Securities through other channels provided by ICICI Securities it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it may deem fit. ICICI Securities shall have the right to suspend the Services if ICICI Securities has reason to believe that the Customer's instructions may lead to direct or indirect loss or may require an indemnity from the customer.
The Customer accepts that all information /instructions will be transmitted to and /or stored at various locations and be accessed by personnel of ICICI Securities (and its affiliates) or its service providers.
On the Customer opting in for the Services through the WhatsApp platform, ICICI Securities has the discretion to stop sending these alerts on SMS or any other channel.
The Customer is responsible for keeping security safeguard of his WhatsApp account linked to the mobile number.
The Customer understands that using WhatsApp application may carry extra risks and may not be secured. Further any message and information exchanged is subject to the risk of being read, interrupted, intercepted, or defrauded by third party or otherwise subject to manipulation by third party or may involve delay in transmission. ICICI Securities shall not be responsible or liable to the customer or any third party for the consequences arising out of or in connection with using of this Service.
The Customer understands that mobile phones are vulnerable to the threats such as but not limited to -
- Access by intruders to the data /information
- Identity theft
- Privacy violations
- Planting of stealth software and viruses
- Disablement or distortion of operations
- Interception of the transmission of encrypted data/message etc.
- The Customer shall immediately notify ICICI Securities in writing if Customer discovers/ suspects unauthorized access.

ICICI Securities shall not be responsible or liable to the Customer or any third party for the consequences arising out of or in connection with using of this Service. The Customer should immediately opt-out of the Services as per the unsubscribe process as detailed in section 8 above.

The Customer is aware that using mobile applications involves many uncertain factors and complex software, hardware, systems, etc. which are susceptible to interruptions and dislocations. ICICI Securities does not make any representation or warranty that the WhatsApp facility/service will be available at all times without any interruption and further that ICICI Securities shall not be responsible for any variation, reduction or imposition of the terms or the customers inability to use the mobile application.
The Customer is aware that authenticated technologies and strict security measures are required for using mobile applications. Customer undertakes to ensure that the password is not revealed to any third party including ICICI Securities officials or any unauthorized person. Customer shall be solely responsible for all the communication exchanged between customer and ICICI Securities while logging into this service.
Under no circumstances shall ICICI Securities, or its officials, employees, be liable for any direct, indirect, punitive, incidental, special, or consequential damages that result from the use of, or inability to use, this service or for receipt of any answer provided by ICICI Securities program running at the back-end.
The Customer agrees that the Customer shall not have any claim against ICICI Securities on account of any suspension, interruption, non-availability or malfunctioning of the WhatsApp service due to any link/mobile/system failure at ICICI Securities end for any reason thereof.
The Customer shall not reproduce, copy, or redistribute for commercial purposes any materials or design elements of this WhatsApp service.
The Customer shall ensure appropriate data network connection. Receipt of messages by Customer shall be subject to the data network connection and ICICI Securities shall not be held responsible for any delay or non-receipt of the responses at WhatsApp channel.
The Customer shall not submit or transmit any content through this WhatsApp channel that is:
- Obscene, Vulgar, or Pornographic, immoral, illegal, illicit, unethical etc.
- Encourages the commission of a crime or violation of any law.
- Violates any law in India and/or the jurisdiction in which customer resides.
- Infringes the intellectual or copyrights of ICICI Securities or a third party.
- Constitute confidential information and/or personal or sensitive information/data belonging to the Customer or any third person.
ICICI Securities reserves the right to remove or otherwise delete any content or submissions made by the Customer that violates the rules or which are inappropriate, as per ICICI Securities's sole discretion, without any liability or giving warning to the Customer.
All instructions for availing the services under the WhatsApp facility shall be provided through the Registered Customer Number in the manner indicated by ICICI Securities. The Customer is also responsible for the accuracy and authenticity of the instructions provided to ICICI Securities and the same shall be considered to be sufficient for availing of the services under the WhatsApp facility. The alerts would be sent on the mobile phone number, last registered with ICICI Securities.
The Customer agrees that if he/she notices any error in any information supplied to the Customer by the use of any of the Services, the Customer shall inform ICICI Securities of the same, as soon as possible. ICICI Securities will endeavor to correct the error promptly. The Customer agrees that all outputs of statements that may appear on WhatsApp, upon making a request to that effect, are information extracted from a computerized back up system maintained by ICICI Securities and may not be continuously be updated in real time. ICICI Securities shall provide the information as may be last updated on the systems of ICICI Securities. While ICICI Securities will take all reasonable steps to ensure the accuracy of the statement, ICICI Securities is not liable for any error and shall not hold ICICI Securities responsible for any loss incurred or action taken by the Customer by relying on such information.
The Customer agrees that the responses received by the Customer from ICICI Securities are based on program running at backend. This program has been developed and regularly enhanced to handle the queries in best possible manner. However, for any inappropriate/inaccurate answers or any answers that the Customers may not find satisfactory, ICICI Securities shall not be held responsible.
It is recommended for Customers who have subscribed to this WhatsApp service to delete WhatsApp application when changing their device so as to ensure there is no misuse of the same.
That all the Services provided to the Customer are subject to applicable law and the rules, regulations, notifications, circulars and guidelines introduced or amended from time to time by Securities & Exchange Board of India and/or any regulatory/ statutory/ governmental authority.
ICICI Securities has the right to retract the Customer's right to utilize the Service anytime it deems fit without any notice to the Customer.
The Customer hereby acknowledges that he is availing the Service(s) at his own risk and the Customer shall not hold ICICI Securities responsible or liable for any of the risks including but not limited to the following:
- Password misuse- The Customer acknowledges that if any third person obtains access to the Customer's device or SIM card or the Customer's WhatsApp, such third party may be in a position to access Customer information including Trading Account related information of the Customer, which may be confidential in nature.
- Mistake/Error- the Customer acknowledges that the Customer may be sent responses or shown information which may not be applicable to him/her or may not be sent a satisfactory response, and the Customer agrees that in such a scenario ICICI Securities shall not be liable for any loss to the Customer in this regard. The Customer shall therefore take all care to ensure that there are no mistakes and errors and that the message sent/ request made/ query asked by the Customer to ICICI Securities in this regard is error free, accurate, proper and complete at all points of time. The Customer agrees that ICICI Securities is providing the Services at the Customer's sole risk. The Customer agrees that ICICI Securities shall not be liable for any loss, damages or consequences whatsoever arising due to any erroneous or incomplete information or any delay in executing the instructions for reasons beyond the control of ICICI Securities. The Customer shall be liable and responsible to ICICI Securities and accede to accept ICICI Securities's instructions without questions for any unfair or unjust gain obtained by him in the course of availing of the Services.
- It may also be possible that the site of ICICI Securities may require maintenance or is otherwise down or there is a technical failure and during such time it may not be possible to process the request of the Customers. This could result in delays in the processing of instructions or failure in the processing of instructions and other such failures and inability. The Customer understands that ICICI Securities disclaims all and any liability, whether direct or indirect, whether arising out of loss of profit or otherwise arising out of any failure or inability by ICICI Securities to honour any Customer instruction for whatsoever reason. The Customer unequivocally and unconditionally understands and accepts that ICICI Securities shall not be responsible for any of the aforesaid risks. The Customer also accepts that ICICI Securities shall disclaim all liability in respect of the said risks.
The Customer agrees that the Registered ICICI Securities Number on the WhatsApp platform cannot be used for grievance redressal or reporting fraud as of now, ICICI Securities will have no liability on reporting of such incidents received through WhatsApp. The Customer may call Customer Care number or email at headservicequality@icicisecurities.com or visit www.icicidirect.com in case of any clarifications.
These WhatsApp Terms and Conditions may be withdrawn, superseded or modified at any time whatsoever, by ICICI Securities without any prior notice.

10. THIRD PARTY

WhatsApp is owned by a third-party unaffiliated with ICICI Securities. The Customer shall independently be guided by the privacy policies of WhatsApp and the third parties or group companies of WhatsApp and ICICI Securities has no control over them. ICICI Securities is not responsible for the privacy or security policies at these sites or other third-party sites that may be linked to within ICICI Securities's social media channels. The Customer should always review the privacy and security practices and policies of each third-party site you visit. ICICI Securities does not endorse and is not responsible for any ads, content, products, advice, opinions, recommendations or other material of third-party sites that may be promoted via advertising within any social media channels.

The Customer further understands and agree that WhatsApp or any other service provider through which we are providing the WhatsApp facility can review and monitor, store the contents shared/communicated through the WhatsApp or other service provider(s) and may share the same with third parties.

Hence, we strongly recommend that you:

Never share privacy-sensitive details via WhatsApp messages/ through the WhatsApp facility.
That we will not send messages of our own accord this way and will only respond to the messages sent to us except for any important communication and awareness messages.
Not to contact us through the WhatsApp channel for complaints, grievances or similar important matters.

11. DISCLAIMER OF LIABILITY

ICICI Securities shall not be responsible for any failure on the part of the Customer to utilize the WhatsApp facility due to the Customer not being within the geographical range within which the WhatsApp facility is offered and which forms part of the roaming network of such cellular service provider, providing services to the Customer availing such roaming facility from the respective cellular service provider. If the customer has reason to believe that the mobile phone number is / has been allotted to another person and / or there has been an unauthorized transaction in the account and / or his mobile phone handset is lost, he shall immediately inform ICICI Securities of the same.

The Customer agrees that ICICI Securities shall not be liable if:

the Customer has breached any of the terms and conditions, contained herein or
the Customer has contributed to or the loss is a result of failure on part of the Customer to advise ICICI Securities within a reasonable time about unauthorized access of or erroneous transactions by use of the Services; or
as a result of failure on part of the Customer to advise ICICI Securities of a change in or termination of the Customer's mobile phone numbers/SIM ("Subscriber Identity Module") cards.
there has been an unauthorized transaction/instruction provided through the WhatsApp channel as a result of any person having control or custody of telecommunications instrument (such as the mobile handset) so that such instrument may be used to give telecommunications instruction without authorization or any other issue/default/error/technological problem in the telecommunication instrument (such as the mobile handset) or duplication of mobile number / SIM of the Customer such as but not limited to SIM card cloning, virus in handset etc.

ICICI Securities shall endeavor to provide the WhatsApp facility on a best effort basis and the Customer shall not hold ICICI Securities liable for non-availability of the WhatsApp facility or non-performance by service providers, if any, engaged by ICICI Securities or any loss or damage caused to the Customer as a result of use of the WhatsApp facility for causes which are not attributable to ICICI Securities. ICICI Securities shall not be liable in any manner to the Customer in connection with the use of the WhatsApp facility.

ICICI Securities shall endeavor to carry out the instructions received from the Customer through the WhatsApp channel promptly, provided that ICICI Securities, shall not be responsible for the delay in carrying out such instructions due to any reason whatsoever, including, but not limited to, failure of operational system or any requirement of law or ICICI Securities's internal policies.

The Customer accepts that each WhatsApp communication may contain certain account information relating to the Customer. The Customer authorizes ICICI Securities to send account related information, though not specifically requested, if ICICI Securities deems that the same is relevant.

ICICI Securities shall not be held responsible for the confidentiality, secrecy and security of the personal or account information being sent through the WhatsApp facility. The Customer agrees that the access to the WhatsApp facility shall be only through the Registered Customer Number and any transaction which originates from the same, whether initiated by the Customer or not, shall be deemed to have originated from the Customer.

Under no circumstance, ICICI Securities shall be held liable if the WhatsApp facility is not available for reasons including but not limited to natural calamities, epidemic/pandemic, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Securities. ICICI Securities shall not be liable under any circumstances for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the Customer or by any other person. Illegal or improper use of the WhatsApp facility shall render the customer liable for payment of financial charges as decided by ICICI Securities or will result in suspension of the WhatsApp facility for the Customer.

ICICI Securities is in no way liable for any error or omission in the services provided by any cellular or any third party service provider (whether appointed by ICICI Securities in that behalf or otherwise) to the Customer, which may affect the WhatsApp facility.

ICICI Securities, does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the WhatsApp facility. ICICI Securities makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the Customer or by any person resulting from or in connection with the WhatsApp facility.

Without limitation to the other provisions of these WhatsApp Terms and Conditions, ICICI Securities, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of ICICI Securities in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of any cellular service provider and ICICI Securities's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, ICICI Securities's system or the network of any cellular service provider and/or any third party who provides such services as is necessary to provide the WhatsApp.

Notwithstanding anything in the contrary provided in this terms and conditions, ICICI Securities shall not be involved in or in any way liable to the Customer for any dispute between the Customer and a cellular service provider or any third party service provider or WhatsApp (whether appointed by ICICI Securities for such purpose or otherwise) while availing these Services through the WhatsApp platform.

The Customer shall not interfere with or misuse in any manner whatsoever the WhatsApp facility and in the event of any damage due to improper or fraudulent use by the Customer, the Customer shall be liable for damages to ICICI Securities or for any losses suffered by ICICI Securities.

The Customer is solely responsible for protecting his/her OTP/debit card PIN/ password or mobile phone number and any other password and/or any other mode of verification as prescribed/ issued by ICICI Securities for the use of the WhatsApp facility from time to time without any liability of ICICI Securities in this regard. The Customer hereby agrees and accepts that he/she shall at all times be solely responsible for the protection and safe keep of his/her SIM card, Device and the applications installed thereon, specifically WhatsApp, login IDs, Customer Information, security details and passwords as mentioned hereinabove and hereby fully agrees that ICICI Securities shall in no manner be liable for any direct or indirect or consequential or other loss arising out of any action or omission because of compromise of the same in any manner whatsoever.

The Customer agrees that ICICI Securities assumes no liability whatsoever in case of any event of such compromise of the Customer's WhatsApp and ICICI Securities shall not be held responsible for any such event. Further, the Customer agrees and understands that WhatsApp can also be logged on from more than one device at the same time, including by using web log in and the Customer is aware of the risk in this regard while availing the Services such as compromise of Customer Information, breach of security of the Customer's WhatsApp account from a device other than the Customers and the Customer undertakes to be vigilant and careful and takes full responsibility for the security of his/her WhatsApp account. ICICI Securities shall not be responsible or liable to you or any third party for the consequences arising out of or in connection with using of this Service.

ICICI Securities will not be liable for:

any unauthorized use of the customer's password or mobile phone number or for any fraudulent, duplicate or erroneous instructions given on the WhatsApp channel;
acting in good faith on any instructions received by ICICI Securities from or on behalf of the Customer in relation to the WhatsApp facility;
error, default, delay or inability of ICICI Securities to act on all or any of the instructions given by the Customer due to any reason;
loss of any information/instructions in transmission;
unauthorized access by any other person to any information /instructions given by the Customer or breach of confidentiality;

ICICI Securities makes no representation or gives no warranty with respect to the quality of the service provided by any cellular service provider or by WhatsApp or any other service provider enabling ICICI Securities to deliver services through WhatsApp to the Customers.

ICICI Securities may provide any other services as a part of the WhatsApp facility and ICICI Securities shall not be liable for the oversight on part of the Customer to update himself /herself with the addition of services which have been included in the WhatsApp facility.

12. INDEMNITY

In consideration of ICICI Securities providing the WhatsApp facility, the Customer, at his own expense, agrees to indemnify, defend and hold harmless, ICICI Securities, its directors and employees, representatives, agents, customers and/or the affiliates, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that ICICI Securities may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the Customer or otherwise for use of the WhatsApp facility.

The Customer further specifically agrees to indemnify, defend and hold harmless, ICICI Securities and/or its affiliates from any losses occurring as a result of the:

the Customer permitting any third parties to use the WhatsApp facility.
the Customer permitting any other person to have access to his mobile phone or as a consequence of leaving the mobile phone unattended or loss of mobile phone and ICICI Securities acting/not acting on any instructions received from the same.
the Customer having breached the WhatsApp Terms and Conditions.

13. TERMINATION

ICICI Securities may, at its discretion, withdraw temporarily or terminate the WhatsApp facility, either wholly or in part, at any time without giving prior notice to the Customer. ICICI Securities may, without prior notice, suspend the WhatsApp facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the WhatsApp facility.

ICICI Securities may suspend or terminate WhatsApp facility without prior notice if the Customer has breached these WhatsApp Terms and Conditions or ICICI Securities learns of the death, bankruptcy.

14. PROPRIETARY RIGHTS

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Kolte-Patil Developers Ltd. 12 Nov 2025 12:18 PM

Result PDF

Realty company Kolte-Patil Developers announced Q2FY26 results

Strategic Investment: As an update, during the quarter funds affiliated with Blackstone completed their stake acquisition and currently hold 40% in the company.
Business Development: In Oct’25, the company acquired 7.5-acre land parcel with an estimated saleable area of 1.9 million Sq. Ft. and a GDV of ~ Rs 1,400 crore.
Sales Value at Rs 670 crore, up 9% QoQ.
Collections at Rs 596 crore, up 8% QoQ.
Realization at Rs 7,823 per sq. ft., up 7% QoQ.
Total Income stood at Rs 162 crore.

Rajesh Patil, Managing Director, Kolte-Patil Developers, said: “This quarter marked an important milestone in the company’s growth story with Blackstone joining the promoter group. As we embark on this new journey focused on long term value creation, several structural and organizational initiatives including Board and leadership level changes have been implemented to streamline decision-making, enhance operational discipline, and strengthen governance framework.

Residential sector demand continues to be healthy, with strong traction across the mid-income and premium segments. Lifestyle aspirations, rising income, favorable policy measures like GST rationalization and interest rate moderation have added to the buoyancy in housing activity. This undercurrent is gaining momentum from the festive period and upcoming year-end holiday season. As the market evolves, Indian real estate is clearly transitioning towards being more organized, transparent, and customer-centric. We expect a period of steady, quality-led expansions underpinned by strong fundamentals, and a supportive regulatory environment.

We reported healthy QoQ growth in Q2FY26, underscoring the strength of our operating model and sustained demand for high quality residential projects. Pre-sales at Rs 670 crore, improved to 9% QoQ, while collections increased 8% QoQ to Rs 596 crore. Average realizations increased by 7% QoQ to Rs 7,823 per sq. ft., supported by pricing power and strong traction in our 24K luxury portfolio. Demand at the company’s flagship integrated township, Life Republic, remained strong contributing 0.51 million sq. ft. of sales during the quarter. In the Mumbai Metropolitan Region (MMR), the company continues to make in-roads in new micro markets reinforcing its longterm growth strategy and complementing its established leadership position in Pune. We recently entered the Versova market with the launch of Serenova, a mid-luxury project, for which I am happy to share that we have received a very encouraging response.

Kolte-Patil continues to expand its portfolio through strategic project and land acquisitions and currently has a total portfolio of ~37 million sq. ft. which includes unsold inventory, a strong development pipeline and land bank. Recently the company acquired a 7.5-acre land parcel in Bhugaon, Pune, which offers an estimated saleable area of 1.9 million sq. ft. and a Gross Development Value (GDV) of approximately Rs 1,400 crore. With growing demand accelerated by improving infrastructure, our foray into Bhugaon market aligns with our strategy of delivering well-planned, highly amenitized, high quality residential projects.

About financial performance, it is important to note that we follow CCM based accounting method where revenue recognition is based on completion and possession. While H1 witnessed limited project completions and revenue recognition, I would like to share that construction for our under-development projects is on track to be completed within committed timelines and will reflect in the future financial performance.

Looking ahead, this marks the beginning of a new and exciting chapter for Kolte-Patil. We are entering a new phase characterized by institutional strength, and the groundwork being laid today will yield results in the future. Our focus on disciplined execution, customer-centric innovation, and long-term value creation remains steadfast. We are confident of building a future-ready, sustainable, and high-performing enterprise capable of delivering consistent value across business cycles. I would like to thank all our stakeholders for their continued trust.”

Result PDF

Q1FY26 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q1FY26 results

Q1FY26 Sales Volume at 0.84 million sq. ft., up 5% QoQ
Q1FY26 Sales Value stood at Rs 616 crore
Q1FY26 Collections at Rs 550 crore
On 23rd June 2025, BREP Asia III India Holding Co VII Pte. Ltd. acquired a 14.3% equity stake aggregating to Rs 417 crore infused in the Company
Total income stood at Rs 96.8 crore in Q1FY26 compared to Rs 350.3 crore in Q1FY25
EBITDA Adjusted stood at Rs -11.2 crore in Q1FY26 compared to Rs 39.7 crore in Q1FY25
Adjusted PAT Margin stood at -17.6% in Q1FY26 compared to 1.8% in Q1FY25

Atul Bohra, Group CEO, Kolte-Patil Developers said, “It has been a steady start to FY26 with sales volumes of 0.84 million square feet, sales value of Rs. 616 crore, and collections of Rs. 550 crore. We continue to benefit from a favourable sectoral backdrop driven by strong consumer sentiment, growing home ownership aspirations and sustained preference for trusted, execution-focused developers. The easing monetary cycle, improving liquidity, and a stable macroeconomic environment are likely to further support growth. The outlook for India’s real estate sector remains optimistic.

I am happy to share that during the quarter Blackstone Funds acquired 14.3% equity stake infusing Rs. 417 crore in the Company which will largely be used as growth capital. We are excited to embark on this journey with a shared vision to accelerate expansion, drive innovation, and reinforce leadership in the dynamic Indian real estate sector. A robust projects portfolio, healthy pipeline of launches across Pune and Mumbai, a strong balance sheet, and now also a scalable platform, we are confident of delivering sustainable growth and long-term value for all stakeholders.”

Result PDF

Q4FY25 & FY25 Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

Total Income: Rs 723.2 crore, up 37% YoY.
EBITDA: Rs 111.9 crore, compared to a loss of Rs 8.7 crore last year.
EBITDA Margin: Improved from -1.7% to 15.5%.
Net Profit: Rs 65.3 crore, compared to a loss of Rs 27.1 crore.
PAT Margin: Increased from -5.1% to 9.0%.

FY25 Financial Highlights:

Total Income: Rs 1,763.7 crore, up 26.5% YoY.
EBITDA: Rs 227.4 crore, up 252% from Rs 64.6 crore.
EBITDA Margin: Increased from 4.6% to 12.9%.
Net Profit: Rs 106.6 crore, compared to a loss of Rs 69.4 crore.
PAT Margin: Improved from -5.0% to 6.0%.

Commenting on the performance for Q4 & FY25, Atul Bohra, Group CEO, Kolte-Patil Developers said, “FY25 has been a strong year for the Company, with milestones achieved on various operational and financial metrics - total income of Rs. 1,764 crore, collections of Rs. 2,432 crore, and operating cash flows of Rs. 880 crore. FY25 EBITDA at Rs. 227 crore registered a strong growth of 252% YoY. This has been achieved on the back of strong execution, healthy registrations, and active customer engagement. Average realizations improved by 8% reflecting our disciplined pricing strategy across geographies. Our flagship Life Republic township continued to perform well, contributing ~1.9 mm. sq. ft. to volumes. New launches contributed 42% of annual sales, reinforcing market traction. We also signed a strategic ~22-acre JDA in Pune with a GDV potential of Rs. 4,000 crore, adding to our future growth pipeline.

The residential demand is expected to sustain, and remain broad-based across mid-income, premium, and luxury segments. And, in our pursuit of redefining living, we are committed to customer satisfaction across segments and geographies. As one of the leading real estate developers with a strong presence in Pune and growing footprint in MMR and having created a solid foundation for multi-year growth, Kolte-Patil is well-positioned to capitalize on the opportunities and deliver long-term value.”

Result PDF

Q3FY25 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q3FY25 results

Revenue: Rs 349.7 crore compared to Rs 75.8 crore during Q3FY24, change 361.4%.
EBITDA: Rs 25.5 crore compared to Rs -36.7 crore during Q3FY24, change 169.7%.
EBITDA margin: 7.3% for Q3FY25.
PAT: Rs 25.3 crore compared to Rs -62.9crore during Q3FY24, change 140.2%.
PAT margin: 7.2% for Q3FY25.

Atul Bohra, Group CEO, Kolte-Patil Developers, said: “Our 9M performance has been marked by milestone sales and collections of Rs 2,161 crore and Rs 1,729 crore respectively. Revenues improved 18% YoY to Rs 999 crore, while EBITDA increased 20% YoY to Rs 70 crore. Our commitment, to redefining living, enhancing the customer’s price-value proposition, and strong execution capabilities, enables sustained long-term performance. Healthy operations cycle resulted in strong operating cash flows of Rs 641 crore during the nine months. Our premium luxury offerings continue to gain momentum. Homeownership trends, especially in the premium and mid-premium, continue to strengthen, and we are well positioned to leverage these opportunities.

To further enhance our portfolio, we are actively building our business development pipeline that aligns with evolving market preferences in our target markets. Recently, we signed ~22 acres joint development project in Pune with the expected GDV of ~Rs 4,000 crore.

The broader economic environment remains supportive. A robust portfolio of upcoming launches, capital-efficiency, strong brand equity, well-defined diversification across high potential markets, will enable us to to deliver sustainable value for all our stakeholders."

Result PDF

H1FY25 & Q2FY25 Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

Revenue from Operations: Rs 308.3 crore compared to Rs 198.2 crore during Q2FY24, change 55.6% YoY.
EBITDA: Rs 16.2 crore compared to Rs 3.5 crore during Q2FY24, change 364.7%.
EBITDA Margin: 5.2% for Q2FY25.
PAT: Rs 9.7 crore compared to Rs -25.3 crore during Q2FY24, change 138.5%
PAT margin: 3.2% for Q2FY25.

H1FY25 Financial Highlights:

Revenue from Operations: Rs 649.0 crore compared to Rs 769.3 crore during H1FY24, change -15.6% YoY.
EBITDA: Rs 43.9 crore compared to Rs 94.6 crore during H1FY24, change -53.6%.
EBITDA Margin: 6.8% for H1FY25.
PAT: Rs 16.0 crore compared to Rs 20.7 crore during H1FY24, change -22.7%
PAT margin: 2.5% for H1FY25.

Atul Bohra, Group CEO, Kolte-Patil Developers, said: “I am happy to share that we have delivered a strong Q2FY25, achieving highest-ever quarterly pre-sales of Rs 770 crore, setting a new benchmark for growth. The complement of offerings across segments and preferences have enabled us to continue on this strong growth trajectory. Sales contribution from our 24K luxury segment stood at 30% of the quarter's pre-sales value reflecting the sustained demand for premium and aspirational living and a clear preference for high-quality residences. Sales momentum at our Life Republic township project remains strong, further reinforcing our leadership in the Pune market.

Collections stood at Rs 550 crore in Q2 and reached new highs of Rs 1,162 crore in H1FY25 on the back of robust sales and timely execution of projects. Looking ahead, we are excited about our robust launch pipeline planned for the second half, comprising a diverse range of projects across micro-markets. These launches along with sustenance inventory position us well to achieve our growth target.

The real estate sector is currently benefiting from strong tailwinds, especially within the mid-premium and premium segments. Expected softening of the interest rates will further strengthen demand.We are equipped with a highpotential project portfolio, consistent cash generation, and deep customer connect to capitalize on this growing opportunity. As we progress through the remainder of the year, we remain confident in closing FY25 on a strong note, delivering long term sustainable value for our stakeholders.”

Result PDF

Q1FY25 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q1FY25 results:

Q1 FY25 sales value stood at Rs 711 crore
Q1 FY25 sales volumes stood at 0.96 million sq. ft.
Highest-ever quarterly collections at Rs 612 crore, up 19% YoY
Q1 FY25 Revenues at Rs 341 crore
Q1FY25 EBITDA at Rs 28 crore

Commenting on the performance for Q1 FY25, Atul Bohra, Group CEO, Kolte-Patil Developers said, "In a rapidly evolving real estate industry, we have been persistent in delighting customers with product offerings that enrich their lifestyle resulting in pre-sales of Rs 711 crore and volumes of 0.96 million square feet for the quarter. Strong execution and timely deliveries resulted in our highest-ever quarterly collections of Rs 612 crore, marking a 19% year-on-year growth. Sustaining the sales momentum, our flagship Life Republic project in Pune recorded sales volumes of 0.46 million square feet in Q1 FY25.

For the year till date we have launched projects with saleable area of close to 2 million square feet translating into top-line potential of about Rs 1,500 crore across customer segments. I am glad to share that all the projects are receiving encouraging response from the market. The launches schedule is largely on track and we hope to be able to launch projects with top-line potential of Rs 8,000 crore during the current financial year.

The underlying structural demand drivers remain strong, as customers continue to favour developers and projects that offer reliability, credibility, and a proven track record. The focus on housing, infrastructure development, and urban planning is expected to provide sustained support to the housing sector. With a growing project development pipeline, under-borrowed Balance Sheet, a validated governance structure, and a strong brand connect associated with trust, we believe that Kolte-Patil is attractively placed to deliver sustainable growth across the coming years."

Result PDF

FY24 Annual Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced FY24 results:

Highest-ever annual sales value of Rs 2,822 crore; 26% YoY growth
Highest-ever annual sales volumes of 3.92 million sq. ft.; 20% YoY growth
FY24 Revenues stood at Rs 1,371.5 crore
Net Debt as on 31 March 2024 stands at Rs -25 crore
Recommended dividend of Rs 4/- per equity share

Commenting on the performance for Q4 & FY24, Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, “I am happy to report robust operational performance for FY24, with record-high sales value, volumes, and collections. The residential real estate sector experienced remarkable growth this year due to factors such as rising disposable incomes, greater affordability, robust economic growth, policy reforms, and stable interest rates that encouraged home buying. Capitalizing on this rising demand for home ownership and high quality living, we launched new projects worth Rs 3,816 crore. These projects, aligned with the evolving needs of our customers, enabled us to achieve an impressive 63% pre-sales from these newly launched projects.

In FY24, our sales grew by 26% YoY to Rs 2,822 crore, and volumes increasing by 20% YoY to 3.9 million square feet. Strong execution led to rapid progress across projects, resulting in highest-ever collections of Rs 2,070 crore. We ended the year with revenues of Rs 1,372 crore. Balance-Sheet remains healthy and cash flows robust, enabling the Board to recommend a final dividend of Rs 4 per equity share.

As we look to the future, we remain confident in the long-term prospects of the real estate sector. In FY25, we are confident of delivering sales of Rs 3,500 crore. The solid foundation laid in FY24 positions us to achieve even greater milestones in FY25 and beyond, with a focus on innovation, execution excellence, and enhancing customer experience.”

Result PDF

Q1FY24 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q1FY24 results:

Q1FY24 sales value at Rs 701 crore, up 58% YoY
Q1FY24 sales volumes at 0.93 million sq. ft., up 52% YoY
Third consecutive quarter with a sales value of over Rs 700 crore
Q1FY24 revenues at Rs 571 crore; up 185% YoY
Q1FY24 EBITDA at Rs 91 crore; up 94% YoY
Q1FY24 net profit at Rs 46 crore; up 116% YoY
Net debt to equity as on June 30, 2023, stands at 0.02x

Commenting on the performance for Q1FY24, Rahul Talele, Group CEO, Kolte-Patil Developers said, “I am pleased to report that in the first quarter of the current financial year, we have continued to build on the record performance delivered in FY23. We have seen a deeper customer engagement across projects, resulting in the key operating metrics showing solid expansion.

New area sales at 0.93 million square feet were up 52% YoY and sales value expanded by 58% YoY to Rs 701 crore, supported by an increase of 4% in average realizations to Rs 7,545 per square foot. Robust execution and deliveries resulted in strong collections at Rs 513 crore in Q1, up 8% YoY, and firm revenues at Rs 571 crore. We reported EBITDA margins of 16% for Q1FY24. Our project launches are on track. We have already launched 2.73 million square feet in the current financial year including 1.52 million square feet across three projects in Baner, Pimple Nilakh, and Life Republic under the 24K brand that addresses the premium luxury segment. Business development traction has been strong. So far, in FY24 we have acquired projects with top-line potential of ~ Rs 3,450 crore. These include four projects in diverse micro-markets across the Mumbai Metropolitan Region (MMR) and two projects in Pune. We continue to assess business development opportunities in our targeted markets and look to expand further on the back of innovative and capital-efficient growth engagements.

The country’s economic prospects, improving lifestyles, and hybrid work formats now prevalent in corporate India, have been driving residential demand, especially for larger homes. Going forward, we continue to see the several macro initiatives undertaken by the government translating into improved affordability parameters for the increasingly discerning homebuyer. We believe that Kolte-Patil is well positioned to benefit from these transitions with its strong brand deeply associated with trust and customer connection across the three geographies of Pune, Mumbai, and Bengaluru. With the trend of consolidation and formalization, buyers are turning to quality developers and we look forward to delivering value across the entire ecosystem of stakeholders.”

Result PDF

Q3FY23 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty firm Kolte-Patil Developers announced Q3FY23 results:

Q3FY23 & 9MFY23:

Reported highest-ever quarterly pre-sales numbers by value and volume in Q3FY23.
- Launched ~2 mn. sq. ft. of inventory across 6 projects in Pune and Mumbai.
- New launches contributed ~57% to the pre-sales value for the quarter.
- KPDL’s flagship project, Life Republic, crossed the half million mark to record volumes of 6.62 lakh sq. ft., the highest-ever in any one quarter.
Achieved sales value of Rs 1,528 crore during 9M FY23, up 23% YoY, from ongoing as well as new launches.
- Achieved sales volume of 2.30 million sq. ft. in 9MFY23, up 19% YoY.
- KPDL’s flagship project, Life Republic, recorded volumes of 1.1 mn. sq. ft for 9MFY23.
Sales contribution from projects outside Pune stood at 21% during 9MFY23.
Collections grew by 22% during 9MFY23 to Rs 1,313 crore supported by -
- Efficient lifecycle of registrations, sales, construction and robust CRM systems.
The company, through its wholly owned subsidiary Sampada Realities Private Ltd., entered into an agreement with Planet Smart City, for strategic land monetization of a portion of its project ‘Little Earth’ at Kiwale, Pune, for ~Rs 78 crore, for joint development of ~0.65 mn sq.ft.
Entered an agreement with Marubeni Corporation (Japan) during the quarter. Marubeni will invest Rs 206.5 crore in the company’s Pimple Nilakh residential project and will be entitled to ~ 2.85 lakh sq. ft. of saleable area in the project.
During the quarter, CRISIL Ratings re-affirmed the ratings of the company’s long-term bank loan facilities as A /Stable, short-term bank loan facilities as A1 and rated non-convertible debentures as A /Stable.

Commenting on the update, Rahul Talele, Group CEO, Kolte-Patil Developers Limited, said, “I am happy to report highest-ever quarterly pre-sales of Rs 716 crore, marking a growth of 95% QoQ and 28% YoY. This growth has been achieved on the back of firm realizations and highest-ever quarterly sales volumes which improved 102% QoQ and 31% YoY. Our performance in Q3 was marked by significant contributions from new launches and continued momentum of customer traction in our existing, sustenance phase projects. It is heartening to see the overwhelming response that we received for new project launches that contributed ~57% to the pre-sales numbers for the quarter. This keeps us on track to deliver 30% growth in pre-sales for FY23. In an important milestone at our flagship project, Life Republic, we crossed the 1 million mark in volumes during 9MFY23 and for Q3FY23 we recorded sales volumes of 6.62 lakh sq.ft., the highest-ever in any one quarter. Housing demand has been resilient across key markets, backed by improved affordability parameters from the longer-term perspective and persistence of flexible, hybrid work formats. With increased consolidation and formalization of the sector, buyers and land owners are turning to quality developers and Kolte-Patil is well positioned to capitalize on the opportunities with focus on delivering value across the entire ecosystem of stakeholders.”

Result PDF

Q2FY23 Quarterly Result Announced for Kolte-Patil Developers Ltd.

Realty company Kolte-Patil Developers announced Q2FY23 results:

Q2FY23 & H1FY23:
- Sales value of Rs 812 crore in H1FY23, up 20% YoY
- Sales value for projects in Mumbai was at Rs 184 crore in H1FY23
- H1FY23 collection at Rs 878 crore, up 34% YoY
- Net Debt to Equity stood at 0.26 as on 30th September 2022
- Q2FY23 Sales value at Rs 367 crore
- Q2FY23 Collections at Rs 404 crore

Commenting on the performance for Q2 & H1 FY23, Mr. Rahul Talele, Group CEO, KoltePatil Developers Limited said, “It is encouraging to observe the revival in the housing market across key geographies and demand segments. Residential sector performance continues to witness ongoing improvement and despite the rise in mortgage rates, affordability of home ownership remains high.

During the first half of the financial year, we delivered strong 20% growth in sales booking value of Rs 812 crore; underlying sales volumes expanded by 9%. Importantly, realizations continued to improve during H1FY23, up 10% YoY, driven by contribution from across projects. Strong execution capabilities demonstrated by our teams across projects translated into firm collections that improved in H1 by 34% YoY to Rs 878 crore; Q2 collections were higher by 8% YoY. Our business diversification strategy remains on-track with projects outside Pune contributing 27% of Sales Value during H1FY23.

Prudent investment and strategic partnerships enable us to deliver on our growth plans. In a recent development, KPDL undertook strategic land monetization for a portion of its project ‘Little Earth’ Kiwale, for ~Rs. 78 crore. As a part of this deal, KPDL will jointly develop ~0.65 mn sq. ft with Planet Smart City; third project under the platform created to develop smart aspirational housing units. In addition, to further our business development agenda, we have received an approval from the Board today for issuing redeemable Non-Convertible Debentures (“Debentures”) on a private placement basis, aggregating upto Rs 206.50 crore.

While we see accelerating momentum on key operating aspects of the business in the second half of the year, Q2 has been slower due to some shifts in scheduled launch timelines that are likely to be announced over the next few weeks and through the course of the rest of the current financial year. As indicated earlier, existing projects, our judicious business development initiatives and scheduled launches that have an aggregate topline potential of ~ Rs. 7,710 crore/development potential of ~11.25 mn. sq. ft. are on track.

KPDL continues to benefit from the buoyant housing demand especially in the post RERA-led consolidation world attracting a greater share of customer engagement. Strong brand recall, best-in class living space and strong execution capabilities position us well in our ability to drive growth, deliver on targets and create long-term value.”

Result PDF

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