Kolte-Patil Developers rises 4% on adding 3 new projects in Pune

The company expects to earn DM fees of Rs 60-65 crore from these projects over a period of 30-36 months

Shares of Kolte-Patil Developers rose 4 percent intraday on July 4 after the company signed three new projects in Pune.


The projects are strategically located at Wagholi in East Pune and Kiwale and Ravet in West Pune and have the saleable potential of 1.2 million square feet with over 1,250 units to be developed, it added.

As the development manager, Kolte-Patil will lend its brand to these projects and jointly collaborate with the landowners to oversee product design, sales and marketing, project quality and cash flow management leading to time-bound handover to buyers.

The company expects to earn DM fees of Rs 60-65 crore from these projects over a period of 30-36 months. The project costs would continue to be borne by the respective projects.

Gopal Sarda, Group CEO, Kolte-Patil Developers said, "The DM model will help diversify our revenue stream with the inclusion of the fee-based income and enable us to increase our customer reach across product categories and geographical micro-markets. This is in line with our ongoing strategy of looking for capital-light growth opportunities."

At 1148 hours, Kolte-Patil Developers was quoting at Rs 226.35, up to Rs 6.55, or 2.98 percent on the BSE

Get a 2 days free trial in Stock Market Tips and MCX Tips  

Comments

Post a Comment

Popular posts from this blog

Technical Classroom: How to use Fibonacci Retracement Levels in stock trading

Image
Fibonacci retracement is a method of technical analysis for determining support and resistance levels A Fibonacci retracement is a popular tool among technical traders and is based on some key numbers. The origins of the Fibonacci series can be traced back to the ancient Indian mathematic scripts, with some claims dating back to 200 BC. However – in the 12th century - Leonardo Pisano Bigollo, an Italian mathematician who was known to his friends as Fibonacci, discovered Fibonacci numbers. It is a popular tool that technical traders use to help identify price levels for transactions, stop losses or target prices. These retracement levels also provide support and resistance levels for a stock. However, it really becomes most effective when confirming signals or conditions identified by additional technical analysis tools. Fibonacci Retracement is a method of technical analysis for determining support and resistance levels. It is named after the use of the Fibonacci sequ...
Read more

Veto Switchgears jumps 5% on realisation of unsecured loan

Image
Veto Switchgears had given unsecured loan to its wholly owned overseas subsidiary Veto Overseas Private F.Z.E. Veto Switchgears and Cables shares rallied 4.8 percent intraday on June 14 after realization of unsecured loan from a subsidiary. "We realized an amount of $1 million against an unsecured loan on June 13," the wires & cables and electrical accessories manufacturer said in its filing. Veto Switchgears had given unsecured loan to its wholly owned overseas subsidiary Veto Overseas Private F.Z.E. The stock climbed 10 percent in the last 15 sessions. At 13:13 hours IST, it was quoting at Rs 66.75, up to Rs 1.10, or 1.68 percent on the BSE. G et a 2 days free trial in Stock Market Tips and MCX Tips  
Read more

Top buy and sell ideas by Ashwani Gujral, Sudarshan Sukhani, Mitessh Thakkar for short term

Image
Sudarshan Sukhani of s2analytics.com recommends buying Dabur India with stop-loss at Rs 381 and target of Rs 394, Ajanta Pharma with stop-loss at Rs 944 and target of Rs 973 and Hexaware Tech with stop-loss at Rs 410 and target of Rs 424. The market reversed most of its gains that were seen in the previous session and closed sharply lower on June 21. Escalated geopolitical tensions between the US and Iran and the RBI's concern over slowing economy dented traders' sentiment. Sensex fell 407.14 points or 1.03 percent to 39,194.49, while Nifty shed 107.70 points or 0.91 percent to 11,724.10, forming a bearish candle on the daily as well as weekly charts. For the week, indices declined 0.65 percent and 0.8 percent, respectively. The broader markets outperformed benchmark indices, with the Nifty Midcap and Smallcap indices closing flat with a negative bias. All sectoral indices closed in the red. According to the Pivot charts, the key support level is placed at...
Read more