The three promoters are Sunita Milind Kolte, Sunita Rajesh Patil, and Rajesh Anirudha Patil.
Sunita Rajesh Patil sold 3,80,022 shares at Rs 486 a share, Sunita Milind Kolte sold 7,60,044 shares at Rs 486.01, and Rajesh Anirudha offloaded 11,40,066 shares at Rs 486, bulk deals data on the National Stock Exchange showed.
As of September end, Rajesh Anirudha held 20.4% stake, Sunita Rajesh 2.7%, and Sunita Milind a 7.29% stake in the company.
On Friday, shares of the real estate developer ended 0.5% up on the NSE at Rs 488.60. Year-to-date, the stock has rallied more than 75%.
The real estate sector is having its best of the times post pandemic, which only got better this year despite the tight liquidity conditions amid higher interest rates. The S&P BSE Realty index topped the list of sector gainers, giving a healthy return of nearly 80% in 2023.
The ongoing economic recovery and rising demand for residential and commercial properties drove double-digit earnings growth for most companies in the sector. Analysts expect luxury real estate projects growth to continue unabated on the back of rising spending power of the Indian upper middle class.
For the September quarter, Kolte-Patil Developers reported a revenue of Rs 204 crore compared with Rs 138 crore a year ago.
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