Daily Brief Financials: Bombay Stock Exchange, Kolte Patil Developers, SmartStop Self Storage REIT and more

In today’s briefing:

How SEBI’s Expiry Date Proposal Could Halt BSE’s Market Share Erosion?
Kolte Patil: Q3FY25 Performance and Promoter Change Update
SmartStop Self Storage (SMA): CEO Confident in Bottoming Self-Storage Market Ahead of IPO

How SEBI’s Expiry Date Proposal Could Halt BSE’s Market Share Erosion?

SEBI’s March 27 proposal suggests standardising expiry dates: Thursdays for Bombay Stock Exchange (BSE IN) and Tuesdays for National Stock Exchange (NSEIN IN) .
NSE’s previous strategic expiry days aimed at better liquidity, marginalising BSE’s Tuesday expiry, potentially impacting it’s trading volumes.
Post-Consultation was released, NSE faces a setback, deferring its planned monday expiry shift for Nifty contracts, indirectly protecting BSE from market share erosion.

Kolte Patil’s Q3FY25 performance update’s key highlight was acquisition of a 22 acre joint development project with topline potential worth INR 4000cr representing saleable area of 5 Million Square Feet.
Q3FY25 pre-sales was not as robust as approval of new projects got delayed in Mumbai due to elections. However, Kolte Patil has guided to cover this up in early FY26.
Even with the delay, Kolte Patil is projecting to close FY25 pre-sales at INR 3000cr+ (vs INR 3500cr guided), which implies that Q4FY25 pre-sales could be INR 850cr+.

The company is primarily a “growth by acquisition” story but does have a bullish outlook based upon strong occupancy and improving metrics.
The underwriters have reserved up to 10% of the shares in this offering through a directed share program.
This IPO “may” be more attractive for investors that “covet yield” versus traditional IPO players.

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