Kolte-Patil Developers CFO Gopal Laddha resigns

Kolte-Patil Developers said that Gopal Laddha has resigned from the position of chief financial officer (CFO) of the company with effect from close of business hours on 28 November 2022.

The company's board has approved the appointment of Khiroda Chandra Jena as chief financial officer of the company with effect from 29 November 2022.

Khiroda Chandra Jena has more than 22 years of experience of working in ITES, telecom, energy and real estate. Prior to joining the company, Khiroda Jena was working with Tata Housing Company. He is a qualified chartered accountant and holds a bachelor's degree in commerce from Berhampur University.

Kolte-Patil Developers is a real estate company with a dominant presence in the Pune residential market, and a growing presence in Mumbai and Bengaluru. The company has developed and constructed over 50 protects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of approximately 20 million square feet.

The company reported a net loss of Rs 8.79 crore in Q2 FY23 as against a net profit of Rs 17.70 crore in Q2 FY22. Net sales declined 59.4% YoY to Rs 123.31 crore in the quarter ended 30 September 2022.

Shares of Kolte-Patil Developers slipped to Rs 0.71% to Rs 308.05 on the BSE.

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