Page 22 - Kolte Patil AR 2019-20

The Chairman’s overview Overview
This is one of the most
The principal message that bewildering times for our
sector and economy (global
I wish to send out to our and Indian).
This is also one of the most
stakeholders is that even as the predictable times for our
Company.
COVID-19 impact is sweeping The year under review was
marked by a slowdown in
and significant, Kolte-Patil consumer sentiment across
various sectors and an
possesses the resilience and unprecedented pandemic in
the last quarter of FY20.
agility to emerge quicker and As India went into a state
of lockdown that destroyed
stronger. demand across most sectors,
there was a premium on
the need to protect one’s
Balance Sheet, stay liquid,
enhance agility and do
everything possible to stay
competitive until the effect
of pandemic declined.
I will not venture to suggest
that we had anticipated
this meltdown; however,
by the virtue of having
experienced subdued market
cycles, we had created a
business model equipped to
be the nimblest to adapt to
circumstances unforeseen
and outside our control.

Over the years, we had
focused on being ahead
of the sectorial curve. We
deepened our preparedness
against the unexpected,
moved with proactive speed
and transformed challenges
into opportunities.
One does not have to look far
for validation: the Company
was RERA-prepared through
systems and processes
well before RERA became
a reality. Even as much of
the country’s real estate
sector was affected by this
definitive game-changer,
Kolte-Patil capitalised by
being proactively prepared.
The result was that the
Company performed even
better following RERA
implementation with
negligible impact on sales
or profitability. The same
impact was evident when
GST was introduced,
widening the gap between
Rajesh Patil, Chairman

20 | Kolte-Patil Developers Limited