Blackstone-backed Kolte-Patil Developers incurs loss of ₹15.8 cr in Q4 FY26

Blackstone-backed Kolte-Patil Developers reports Q4 FY26 loss as lower revenue recognition offsets strong collections and steady housing sales

Blackstone-backed Kolte-Patil Developers reported a net loss (attributable to owners of the company) of ₹15.8 crore in the fourth quarter of the financial year 2026 (Q4 FY26), compared with a profit of ₹65.29 crore in Q4 FY25.

 

The Pune-based real estate developer’s revenue from operations for Q4 FY26 declined 65.4 per cent year-on-year (YoY) to ₹248.61 crore. Meanwhile, its total expenses, too, dropped significantly, by 57.56 per cent YoY to ₹264.31 crore.

 

Explaining the company’s profit and loss (P&L) performance, Rajesh Patil, managing director, Kolte-Patil Developers, said, “It is important to note we follow the Completed Contract Method (CCM)-based accounting and the recognition of revenue and profits is dependent on the timing of project completion based on statutory accounting guidelines. As a result, the reported profitability remained muted owing to lower revenue recognition.”

 

 

Earlier, Kolte-Patil sold homes worth ₹714 crore during the quarter under review, up 13 per cent YoY. The area sold stood at 0.74 million square feet (msf), down 7 per cent YoY. The quarterly realisation stood at ₹9,601 per square foot, up 21 per cent YoY. The company’s collections during the quarter stood at ₹834 crore, up 18 per cent YoY.

 

The company said the performance was driven by a strong response to new launches complemented by portfolio-wide sustenance sales. Life Republic, Kolte-Patil’s flagship integrated township project in Pune, contributed 0.37 msf of sales in Q4 FY26. It launched 1 msf of projects in Q4 FY26 and 4.6 msf in FY26.

 

According to the company, the average price realisation was supported by steady overall demand, disciplined pricing, and increased contribution from the Mumbai portfolio. Its FY26 realisation was ₹8,314 per square foot, up 7 per cent YoY.

 

The company sold homes worth ₹2,605 crore in FY26, down 7 per cent YoY. The sales volume stood at 3.13 msf, down 13 per cent YoY.

 

Patil stated that operationally, FY26 was a year of transition and recalibration for the business. Sales moderated as a significant volume of the company’s new launches was towards the latter part of the year.

 

Kolte-Patil’s annual collections stood at ₹2,689 crore, up 11 per cent YoY. “We continued to demonstrate strong execution on the ground, reflected in record annual collections. Collections is a metric we track closely, as it reflects construction progress, customer confidence, and cash flow discipline. Over the last four years, our collections have grown at a compound annual growth rate (CAGR) of 14 per cent, underscoring the consistency of our operating performance,” Patil added.

 

Kolte-Patil’s FY26 revenue stood at ₹734.96 crore, down 57.2 per cent YoY. It reported a loss of ₹38.67 crore for FY26, compared with a profit of ₹106.56 crore in FY25.

 

During FY26, Kolte-Patil acquired projects in Pune’s Bhugaon with an aggregate gross development value (GDV) of ₹2,250 crore. During the year, funds affiliated with alternative asset manager Blackstone acquired a 40 per cent stake in the company.

 

“As we look ahead to FY27, we do so with clarity of purpose and a significantly strengthened platform. Backed by a strong balance sheet, a robust launch calendar, and an institutional partnership, Kolte-Patil is well-positioned to navigate near-term volatility while continuing to create long-term stakeholder value,” Patil added.