Page 31 - Kolte Patil AR 2019-20
P. 31

Overview                 jades over time and      speed and quantum of sale;
            Kolte-Patil reported a record   needs to be ‘pushed’. The   it was reflected in the fact
            sales performance from a   Company de-inventorised   that the Company marketed
            non-launch year in FY20.   apartment stock, generated   this throughput without
            In the midst of a sectorial   precious cash flows and   reducing its sticker price.
            slowdown, the Company    helped mature the real   The Company enhanced
            reported 2.5 msf in net   estate properties in which   customer engagement
            sales during the year under   sustenance sales were   through an increased   Big numbers
            review, possibly a record   made.                 price-value proposition,
            for sustenance sales by any   Highlight           protecting brand integrity.
            Company in any city in India   The highlight of the   The Company trained in-  2.08
            in FY20. The performance   Company’s sustenance sales   house 50 team members
            validated the Company’s   focus was the ZABARDUS   and 500 channel partners.   Quantum of net sales
            credentials as a sales-  campaign launched on     The complement of this   in msf, FY17
            driven organisation with   7 November, 2019. The   word-of-mouth goodwill,
            capabilities in marketing   Company focused on selling   distribution network and
            apartments in virtually   500 apartments inside   social media translated into   2.50
            any market condition. The   the existing Life Republic   an unprecedented sales
            Company possessed an     project in Hinjewadi (Pune).   response.          Quantum of net sales
            unsold inventory that was   It complemented superior   All-round effort    in msf, FY20
            equivalent to 22 months   design, relevant pricing,
            of sales equivalent (based   market analysis, forecasting   The Company generated
                                                              higher international
            on the FY20 average),    and a promotional campaign                        45
            considerably lower than   promising lifestyle upgrades   sales compared with the
                                                              previous year. Sales were
            the sectorial average – and   (goods, services, accessories                % of sales generated
            possibly among the lowest   and tax waivers) at no   generated across projects
                                                              and all three regions
            in India’s organised real   additional cost. The result                    from channel
            estate sector.           of this intensive approach   (Pune - Life Republic, Ivy   partners, FY17
                                                              Estate, Tuscan, Downtown,
            Rewriting rules          was that within 38 days the   Western Avenue, 24K Opula
            The ability of the Company   Company had marketed 500   and Stargaze; Bengaluru –   64
            in generating all revenues   units with a booking value   Ragga, Mirabilis and Exente;
            from sustenance sales    of C205 Crore. The success   Mumbai – Jai Vijay).  % of sales generated
            countered the longstanding   of this initiative accounted   Technology
            industry belief that     for sizeable percentage of                        from channel
            sustenance offtake needs   the Company’s sustenance   The Company’s Falcon app   partners, FY20
                                                              enhanced business ease,
            to be complemented by    sales during the year under
            the excitement of fresh   review.                 controlled employment
                                                              costs and increased sales
            launches.  The Company   Success                                            Perspective
            also countered the       The success of the       velocity — a comprehensive   “Our ZABARDUS
            commonly-held belief     ZABARDUS campaign was                              campaign achieved
            that sustenance inventory   reflected not just in the
                                                                                        outstanding numbers in
                                                                                        the sustenance phase
                                                                                        of a project in a single
                                                                                        location. It indicates
                                      Conscious                                         our leadership position
                                     engagement                                         and brand equity in
                                      of channel                                        Pune and the value
                                       partners                                         proposition we deliver
                                                                                        across the demand
                                                                                        spectrum. The strong
                                                                                        demand validates
                                                                                        our decision to buy
                                    Our effective                                       the private equity
                                      marketing                                         partner’s share in Life
                                      approach                                          Republic. We now
                      Focused on                        Mined                           possess the multi-year
                                                                                        sales visibility from
                       intensive                      customer                          this project, enhancing
                       marketing                         data                           long-term shareholder
                         bursts                                                         value.” - Gopal Sarda,
                                                                                        Group CEO

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