Kolte-Patil Developers profit declines 76% to Rs 5.37 cr in Q3 FY22

10 Feb 2022 CW Team

Pune-based Realty firm Kolte-Patil Developers Ltd has registered a 76% drop in its consolidated net profit at Rs 5.37 crore for the quarter ended December.

Its net profit reached Rs 22.47 crore in the year-ago period.Total revenue increased to Rs 244.7 crore in the third quarter of this fiscal year, from Rs 194.66 crore in a similar period of the previous year, as per a regulatory filing.

On the operational front, the firm's sales bookings increased 77% to Rs 561.3 crore during the October-December quarter, from Rs 317 crore in the year-ago period.

Rahul Talele, Group CEO, Kolte-Patil Developers Ltd, told the media that they have hit significant sales milestones in Q3 FY22, which has been their best-ever quarter in the past seven years both in terms of sales volume and value. The firm has now attained a sales value of Rs 1,238.4 crore in the first nine months of this fiscal year, up 83% as against Rs 675.6 crore in the previous year period. The sales bookings have already touched the Rs 1,201-crore mark achieved in the complete 2020-21 financial year.

Overall, their business has the momentum to end FY22 on a strong note. Pune-based Kolte-Patil Developers Ltd additionally has a presence in Mumbai and Bengaluru. The firm has developed and built more than 50 projects comprising residential complexes, integrated townships, commercial complexes and IT Parks, including a saleable area of about 20 million sq ft across Pune, Mumbai and Bengaluru.

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