+
Kolte-Patil Developers reports Rs 120.80 crore profit in Q4 FY23
ECONOMY & POLICY

Kolte-Patil Developers reports Rs 120.80 crore profit in Q4 FY23

Kolte Patil Developers reported a 352.77 percent increase in net consolidated profit for the quarter ending March 31,2023. Its profit after tax was Rs 1.2 billion in Q4 FY23, up from Rs 266.8 million in the previous fiscal's corresponding quarter, according to a BSE filing.

The company's net consolidated total income was Rs 804.42 crore in Q4 FY23, up 111.14 percent from Rs 3.8 billion in the same period last year.

The board of directors' debenture allocation committee has allocated 14,000 secured, unlisted, redeemable non-convertible debentures (NCDs) of face value Rs 100,000 apiece to India Realty Excellence Fund IV on a private placement basis, totaling Rs 1.4 billion. NCDs shall be for a term of 120 months with a coupon of 0.001% per annum compounded annually if not redeemed earlier.

They have also allocated 20,6650 senior, secured, listed, rated, redeemable, zero coupon NCDs with face values of Rs 100,000 apiece on a private placement basis, totaling Rs 2.06 billion to Marubeni Corporation, Japan, unless redeemed sooner. The NCDs would be valid for 120 months unless redeemed earlier.

The board proposed a final dividend of Rs 4 per equity share of Rs 10 for fiscal year 2022-2023.

The board of directors authorized the issuance of equity shares and/or secured/unsecured redeemable non-convertible debentures or debt instruments and/or fully or partially convertible debentures/or bonds and/or global depository receipts and/or American Depository receipts in domestic and/or international offerings via public issue and/or private placement and/or rights issue and/or preferential allotment and/or qualified institutional placement.

Kolte Patil Developers reported a 352.77 percent increase in net consolidated profit for the quarter ending March 31,2023. Its profit after tax was Rs 1.2 billion in Q4 FY23, up from Rs 266.8 million in the previous fiscal's corresponding quarter, according to a BSE filing. The company's net consolidated total income was Rs 804.42 crore in Q4 FY23, up 111.14 percent from Rs 3.8 billion in the same period last year. The board of directors' debenture allocation committee has allocated 14,000 secured, unlisted, redeemable non-convertible debentures (NCDs) of face value Rs 100,000 apiece to India Realty Excellence Fund IV on a private placement basis, totaling Rs 1.4 billion. NCDs shall be for a term of 120 months with a coupon of 0.001% per annum compounded annually if not redeemed earlier. They have also allocated 20,6650 senior, secured, listed, rated, redeemable, zero coupon NCDs with face values of Rs 100,000 apiece on a private placement basis, totaling Rs 2.06 billion to Marubeni Corporation, Japan, unless redeemed sooner. The NCDs would be valid for 120 months unless redeemed earlier. The board proposed a final dividend of Rs 4 per equity share of Rs 10 for fiscal year 2022-2023. The board of directors authorized the issuance of equity shares and/or secured/unsecured redeemable non-convertible debentures or debt instruments and/or fully or partially convertible debentures/or bonds and/or global depository receipts and/or American Depository receipts in domestic and/or international offerings via public issue and/or private placement and/or rights issue and/or preferential allotment and/or qualified institutional placement.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code