Real estate stock Kolte Patil Developers is witnessing a tremendous rise during early trading on Thursday (October 17). The company has released the July-September quarter i.e. Q2 update after the market closed a day earlier. Even after this update, the stock is witnessing a tremendous rise today.

However, the BSE Realty Index is witnessing a decline of about half a percent. Oberoi Realty and DLF are also named in the list of bullish stocks of this index. Whereas, Prestige Estates and Phoenix Mills are witnessing a decline. Record sales in the second quarter This company, which operates in Pune, Mumbai and Bengaluru, has achieved the highest sales value so far in the second quarter. In these three months, Kolte-Patil Developers have sold ₹ 770 crore. Talking about the quarterly sales volume, it is 10.3 lakh square feet. The company's flatship project Life Republic has sold 5.7 lakh square feet in the second quarter. Sales increased in premium projects The company's average realization in the second quarter improved by 16% year-on-year to ₹ 7,422 per square feet. Premium projects like Life Republic, 24K, Pimple Nilakh have seen an increase in sales volume. In the second quarter, the company's total collection stood at ₹550 crore. Recently, looking at the company's financial position and growth, CRISIL has upgraded its long-term rating to AA- and short-term rating to A1+. Support from demand The company said that along with quarterly sales, collections have also reached an all-time high. Momentum continues in the 24K premium segment. In the second quarter, about 30% of the total sales came from this segment alone. The volume of Life Republic Township project is also intact. The company's launch pipeline is strong even in the second half of the current financial year. Talking about the industry trend, the company is also getting support from the demand for homes. Especially, the best demand trend is being seen in the premium category. How is the stock performance Talking about the stock, on Thursday it was seen trading at ₹443 per share with a gain of 13%. However, pressure has been seen in the stock in the recent past. This stock is down 15% so far this year. Whereas, it has seen a decline of 12% during the last 1 year. The 52-week high of Kolte-Patil Developers is ₹585 per share. Whereas, the 52-week low is ₹345 per share.