Page 33 - Kolte Patil AR 2019-20

Overview
audits. The result was the ability to achieve a high constructed integrity in line with the architect’s design, coupled with minimal rework.
Culture
At Kolte-Patil, this discipline
was built around an invigorating culture. The Company’s construction effectiveness was derived from its ability to question established practices, reinvent paradigms, introduce perspectives and deliver bigger, better and faster. The result was a greater design standardisation (design / size / rooms). Besides, the Company automated the routine, simplified the complex, templatised the simple and scaled the templatised. The result was scalable and predicable growth in the shortest time with the least deviations.
Standardisation
The Company created standardised products across every segment
of presence (affordable, MIG,
24K and township residences).
This enhanced clarity on product configurations, resources and deliverables. This simplified project fundamentals, accelerating project approvals. Besides, this dictated the selection of relevant technologies, creation of organisational benchmarks and best practices. The result is that Kolte-Patil is widely respected as a disciplined builder driven by efficient construction practices.
In India’s real estate development sector, passing through a liquidity challenge, there is a premium
on sustaining construction pace. Companies that are able to sustain are better equipped to protect their deadline-committed reputation. There is a greater willingness
to buy ready-to-move-in homes, making timely construction critical. Besides, timely construction and handover have positive collection implications, strengthening financials, competitiveness and sustainability.
Performance
During the year under review, the Company handed over
1601 completed apartments to buyers. The completed handover amounted to 1.86 msf. This protected the Company’s respect as a professional systems-driven organisation, possessing the ability to protect its commitment to customers, irrespective of the prevailing sectorial weakness.
Discipline
The timely handover of apartments was not the result of initiatives undertaken during the last year;
it was the result of a discipline strengthened by the Company
over the last number of years. The Company invested in equipment mechanisation, processes, team training cum delegation, standard operating protocols, enhanced safety, IT-driven monitoring, cross- site best practices and periodic
Big numbers
1576 Apartments handed over, FY17
1601 Apartments handed over, FY20
2.13
Msf, delivered, FY17
1.86
Msf, delivered, FY20
Perspective
“We believe in a model
wherein we buy, construct
and sell at a faster pace with
a manufacturing mindset. As
a result, our ROCE, ROE and EBITDA margin are well placed compare to our peers while we report around 18% to 20% CAGR growth in pre-sales, collections and top line. We have been consistently generating free cash flows, positioning us well for the next level of business development.” - Gopal Sarda, Group CEO
The coming together of culture and discipline
Design standardisation
Enhanced safety focus
Equipment mechanisation
IT-driven monitoring
Team training and competence
Sharing of cross-site best practices
Standard operating protocols
Periodic audits
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