Kolte Patil Developers spurts after turnaround Q2 numbers

Kolte Patil Developers rose 6.05% to Rs 323.50 after the company reported consolidated net profit of Rs 17.70 crore in Q2 September 2021 compared with net loss of Rs 21.87 crore in Q2 September 2020.

On a consolidated basis, revenue from operations surged 370.39% to Rs 303.78 in Q2 September 2021 over Q2 September 2020. Pre-tax profit stood at Rs 43.86 crore in Q2 September 2021 as against pre-tax loss of Rs 29.17 crore in Q2 September 2020.

Total expense jumped 174.95% YoY to Rs 265.60 crore during the quarter. The company's cost of services, construction and land surged 398.29% YoY to Rs 220.99 crore.

 

Kolte Patil Developers is a leading real estate company with dominant presence in the Pune residential market. It 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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