Kolte-Patil Developers gains after Unifi Capital buys 1.7% stake via bulk deals

Kolte-Patil Developers rose 1.65% to Rs 240.05 after Unifi Capital bought 12.89 lakh equity shares (1.69% equity) of the company via bulk deals on Monday, 22 March 2021.

As per the bulk deal data on the NSE on Monday, Unifi Capital Pvt. Ltd - BCAD purchased 8,49,229 shares, or 1.12% equity, of the real estate developer. Separately, Unifi Capital Pvt. Ltd - ISF purchased 4,40,000 shares, or 0.58% equity, of the company. Both the deals were struck at Rs 230 per share.

Goldman Sachs India Fund sold 12,71,408 shares, or 1.67% equity, of Kolte Patil Developers at Rs 230.01 per share on the NSE.

As on 31 December 2020, Goldman Sachs India held 3.537% stake in the real estate developer.

On 19 March 2021, Unifi Capital Pvt. Ltd - BCAD had purchased 4.64 lakh equity shares (0.61% equity) of the company on NSE at Rs 216 per share via bulk deal.

On a consolidated basis, Kolte-Patil Developers reported a net profit of Rs 25.05 crore in Q3 December 2020 as compared to a net loss of Rs 14.32 crore in Q3 December 2019. Net sales surged 46.1% to Rs 190.27 crore in Q3 FY21 over Q3 FY20.

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

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