Kolte-Patil Developers Q3 Profit Dips 76 pc to Rs 5.37 Crore; Revenue up 26pc to Rs 244.7 cr

Realty firm Kolte-Patil Developers Ltd has reported a 76 per cent decline in its consolidated net profit at Rs 5.37 crore for the quarter ended December. Its net profit stood at Rs 22.47 crore in the year-ago period.

Total income rose to Rs 244.7 crore in the third quarter of this fiscal year, from Rs 194.66 crore in the corresponding period of the previous year, according to a regulatory filing. On the operational front, the company's sales bookings rose 77 per cent to Rs 561.3 crore during October-December quarter, from Rs 317 crore in the year-ago period.

Rahul Talele, Group CEO, Kolte-Patil Developers Ltd, said: "We have hit significant sales milestones in Q3 FY22, which has been our best-ever quarter in the last seven years both in terms of sales volume and value." The company has now achieved sales value of Rs 1,238.4 crore in the first nine months of this fiscal year, up 83 per cent from Rs 675.6 crore in the year-ago period.

The sales bookings have already crossed the Rs 1,201-crore mark achieved in the full 2020-21 financial year. "Overall, our business has the momentum to end FY22 on a strong note," he said. Pune-based Kolte-Patil Developers Ltd also has presence in Mumbai and Bengaluru.

The company has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of around 20 million square feet across Pune, Mumbai and Bengaluru.

(PTI)