Kolte-Patil Developers posts ₹10 cr loss in Q2 FY26 as revenue dips

Pune-based Kolte-Patil Developers reported a ₹10.4-crore loss in Q2 FY26, with revenue falling 55% year-on-year, though sales realisations and collections improved

Blackstone-backed Kolte-Patil Developers has incurred a loss (attributable to owners of the company) of Rs 10.4 crore in the second quarter of the financial year 2026 (Q2 FY26), compared with a profit of Rs 9.7 crore in Q2 FY25.

 

The company’s revenue from operations declined 55.02 per cent year-on-year (Y-o-Y) to Rs 138.7 crore, indicating a slowdown in sales momentum.

 

Its other income surged 82.2 per cent Y-o-Y to Rs 23.1 crore. Total expenses during the quarter stood at Rs 183.38 crore, down 39.93 per cent Y-o-Y.

 

How did sales and area bookings perform in Q2 FY26?

 

 

Earlier, the Pune-based real estate developer reported housing sales worth Rs 670 crore for Q2 FY26, down 13 per cent Y-o-Y. However, quarter-on-quarter (Q-o-Q), sales grew 9 per cent, supported by sustenance sales.

  In Q2 FY26, the company sold an area of 0.86 million square feet (msf), down 17 per cent Y-o-Y but 2 per cent higher on a Q-o-Q basis.

 

Sales realisations stood at around Rs 7,823 per square foot, up 5 per cent Y-o-Y and 7 per cent Q-o-Q. Collections grew 8 per cent on both Y-o-Y and Q-o-Q bases to Rs 596 crore.

 

How did the company perform in the first half of FY26?

 

In the first half of FY26 (H1 FY26), Kolte-Patil’s sales declined 13 per cent Y-o-Y to Rs 1,286 crore. The company sold an area of 1.7 msf, down 15 per cent compared to H1 FY25. Realisations grew 2 per cent Y-o-Y to Rs 7,582 per square foot, while collections dipped marginally by 1 per cent to Rs 1,146 crore.

 

Revenue for H1 FY26 fell 65.94 per cent to Rs 221.02 crore. The company incurred a loss of Rs 27.42 crore during the period, against a profit of Rs 15.97 crore in H1 FY25.

 

What are the company’s financial and ownership highlights?

 

During Q2 FY26, funds affiliated with Blackstone — a global investment manager — increased their holding in the company to 40 per cent.

 

Sequentially, revenue grew 68.4 per cent, while the company had posted a loss of Rs 17 crore in Q1 FY26. On a consolidated basis, its debt-equity ratio stood at 0.86 times as of September 30, 2025, compared with 1.69 times a year earlier.

 

What lies ahead for Kolte-Patil in FY26?

 

Kolte-Patil has a pipeline of planned launches across Pune and Mumbai in the coming quarters, which is expected to drive growth in FY26. The company expects upcoming projects and sustenance inventory to support sales momentum as the year progresses.