Kolte - Patil Developers Limited (KOLTEPATIL)
₹429.75 +0.75% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kolte -'s revenue was ₹920 Cr, and net profit ₹147 Cr (against a loss a year earlier); the operating margin was 20.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹920 | — | +269.5% |
| Operating profit | ₹189 | from loss | from loss |
| Net profit | ₹147 | from loss | from loss |
| EPS (₹) | 16.49 | from loss | from loss |
| Operating margin | 20.5% | — | — |
KOLTEPATIL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.31% of the KOLTEPATIL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 44.73%. That is close to its usual level. Volume was 0.1 times its average, well below normal.
Delivery in the last 5 sessions: 47.4% · 23.3% · 40.4% · 51.8% · 55.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kolte-Patil Developers posted its highest-ever quarterly pre-sales of ₹1,019 crore in Q2 FY27, surging 52% YoY, supported by its strongest-ever launch 'Vyana at The Reserve' in Pune which clocked ₹616 crore. Half-yearly sales reached ₹1,636 crore (+27% YoY), while H1 collections rose 32% YoY to ₹1,509 crore. In addition, KPDL added six redevelopment projects in the Mumbai Metropolitan Region (MMR) with an estimated Gross Development Value (GDV) of ₹6,000 crore, representing its largest annual business development addition in Mumbai.
- Q2 FY27 sales value grew 52% YoY to ₹1,019 crore versus ₹670 crore in Q2 FY26
- H1 FY27 sales reached ₹1,636 crore, up 27% YoY, with collections up 32% to ₹1,509 crore
- Single-project launch 'Vyana at The Reserve' in Vadgaon, Pune generated ₹616 crore in sales
- Added six redevelopment projects in MMR with an estimated GDV of ₹6,000 crore
- Average realization in H1 FY27 improved 10% YoY to ₹8,368 per sq. ft.
CARE Ratings Limited has reaffirmed the credit rating for Kolte-Patil Developers Limited's Rs 250.00 crore Non-Convertible Debentures (NCDs) at 'CARE AA-; Stable'. The rated instrument represents approximately 21.2% of the company's total debt of Rs 1,181 crore and 35.0% of its TTM revenue of Rs 714 crore. The NCDs were issued in two tranches (October 2025 and December 2025) with a 10-year tenure maturing in October 2035, linked to project cash flow collections. The reaffirmation indicates stable creditworthiness despite recent net losses in FY26.
- CARE Ratings reaffirmed credit rating of 'CARE AA-; Stable' for Rs 250.00 crore NCDs
- Tranche 1 comprises 13,996 debentures issued October 16, 2025 maturing October 15, 2035
- Tranche 2 comprises 10,994 debentures issued December 05, 2025 maturing October 30, 2035
- Face value of the NCDs is Rs 1,00,000 each with a tenure of 10 years unless redeemed earlier via collections
Kolte-Patil Developers announced its strongest-ever launch performance with sales exceeding Rs 600 crore in 60 hours for its project 'Vyana at The Reserve' in Vadgaon, Pune. The launch saw over 600 apartments booked across premium 2- and 3-bedroom configurations. This single launch booking value represents ~84% of the company's TTM revenue of Rs 714 crore, providing strong revenue visibility against recent quarterly losses. The overall project spans 20 acres with ~5 million sq. ft. of potential saleable area and a total expected Gross Development Value (GDV) of Rs 4,000 crore.
- Booked over 600 apartments generating sales exceeding Rs 600 crore in 60 hours
- Represents the strongest launch performance in the company's history
- Entire project 'The Reserve' has a total potential saleable area of about 5 million sq. ft. and Rs 4,000 crore expected GDV
- Complements recent business development in MMR consisting of 6 projects aggregating Rs 6,000 crore in GDV
Kolte-Patil Developers Limited announced that its Nomination and Remuneration Committee granted 101,748 stock options under the Kolte-Patil Employee Stock Option Scheme-2021 (KPESOS 2021) on August 24, 2026. Each option is exercisable into one equity share of face value Rs 10 at an exercise price of Rs 10 each. The options may be exercised within two years from the date of vesting. The resulting equity expansion represents a negligible dilution of under 0.15% of total outstanding shares.
- 101,748 stock options granted to eligible employees under KPESOS 2021
- Exercise price set at Rs 10 per equity share (face value)
- Each option carries the right to apply for 1 equity share of face value Rs 10
- Options can be exercised within 2 years from the date of vesting
Kolte-Patil Developers Limited has appointed Mr. Hrishikesh Parandekar as Chief Executive Officer, effective August 24, 2026. Mr. Parandekar, an IIM Ahmedabad Gold Medalist with over three decades of experience in real estate and investments, joins from Alpha Alternatives, with previous leadership stints at McKinsey, Morgan Stanley, and Sugee Group. The appointment follows Blackstone's acquisition of a 40% stake in the company during FY26 and is aimed at driving execution and multi-city expansion across Pune, Mumbai, and Bengaluru.
- Mr. Hrishikesh Parandekar appointed as CEO effective August 24, 2026
- Brings over 30 years of strategic leadership and real estate investment experience
- Follows Blackstone acquiring a 40% strategic stake in Kolte-Patil during FY26
- Company track record stands at over 68 projects developed covering >33 million sq. ft.
- Signed 19 redevelopment projects in Mumbai to date (6 completed, 4 ongoing, 9 future)
Kolte-Patil Developers Limited has approved the appointment of Mr. Hrishikesh Parandekar as its new Chief Executive Officer, effective August 24, 2026. Mr. Parandekar brings extensive leadership and real estate investment experience, having previously served as Managing Director at Morgan Stanley (US), CEO at Karvy Group and Ambit Holdings, and Chairman of Sugee Group. The appointment comes at a crucial juncture as the company targets operational turnaround following a TTM net loss of Rs 35 Cr on revenue of Rs 714 Cr, alongside plans to execute its 36 Mn sq. ft. development pipeline.
- Appointment of Mr. Hrishikesh Parandekar as Chief Executive Officer effective August 24, 2026
- Board of Directors approved the appointment during a meeting on August 19, 2026
- Background includes MD at Morgan Stanley US, CEO roles at Karvy Group and Ambit Holdings, and Chairman at Sugee Group
- Educational pedigree includes Gold Medalist PGDM from IIM Ahmedabad and Accounting/Economics degree from Mumbai University
Kolte-Patil Developers has informed exchanges that it will not host a post-results conference call for Q1FY27. The company cited ongoing internal restructuring and a leadership transition aimed at strengthening governance and operational efficiency as the primary reasons. This decision comes as the company manages a TTM loss of ₹35 crore and a debt of ₹1,181 crore. Investors are directed to the published investor presentation and results release for financial performance details.
- Cancellation of the post-results conference call for the Q1FY27 period
- Company reported a TTM net loss of ₹35.11 crore as of the latest annual cycle
- Debt-to-Equity ratio stands at 0.96 with total debt of ₹1,181 crore
- Internal restructuring underway to align with a 36 Mn sq. ft. development pipeline
Kolte-Patil Developers reported a strong operational Q1 FY27, with collections rising 30% YoY to Rs 715 Cr and average realizations jumping 29% to Rs 9,442 per sq. ft. While pre-sales value remained flat at Rs 617 Cr, the company announced a massive strategic expansion in Mumbai with 6 new redevelopment projects totaling ~Rs 6,000 Cr in Gross Development Value (GDV). This Mumbai addition is significant, representing over 8x the company's TTM revenue of Rs 714 Cr. The company maintains a robust credit rating of AA-/Stable and benefits from a 40% equity stake held by Blackstone.
- Added 6 Mumbai redevelopment projects with an estimated GDV of ~Rs 6,000 Cr and 2 Mn sq. ft. saleable area.
- Collections grew 30% YoY to Rs 715 Cr, reflecting strong execution and cash flow generation.
- Average realization increased 29% YoY to Rs 9,442 per sq. ft., driven by price revisions and Mumbai contribution.
- Mumbai projects now account for ~30% of total sales value, up from historical levels.
- Launched 0.78 Mn sq. ft. of new saleable area in Pune across 'The Winds' and 'Little Earth' projects.
Kolte-Patil reported a record total income of Rs 937 crore for Q1 FY27, a significant turnaround compared to the TTM revenue of Rs 714 crore, driven by 1.27 Mn. Sq. Ft. of project completions. The company achieved a PAT of Rs 146 crore (16% margin), reversing the TTM loss of Rs 35 crore. A major strategic milestone was the addition of six redevelopment projects in Mumbai with an estimated Gross Development Value (GDV) of ~Rs 6,000 crore, which is approximately 1.6x the company's current market cap. Average realizations improved 29% YoY to Rs 9,442 per sq. ft., reflecting a shift towards premium projects and the Mumbai market.
- Record total income of Rs 937 crore in Q1 FY27, exceeding the entire TTM revenue of Rs 714 crore
- Added six Mumbai redevelopment projects with a combined estimated GDV of ~Rs 6,000 crore
- EBITDA margin reached 22% (Rs 206 crore) supported by high-margin Life Republic projects
- Average realization increased by 29% YoY to Rs 9,442 per sq. ft.
- Collections grew 30% YoY to Rs 715 crore, indicating strong execution and cash flow
Kolte-Patil Developers Limited has granted 139,826 stock options to eligible employees under its Employee Stock Option Scheme-2021. The exercise price is set at Rs 10 per share, which is the face value and represents a significant discount to the current market price of Rs 462.2. This grant results in a marginal potential equity dilution of approximately 0.17%. The options are exercisable within two years from their respective vesting dates.
- 139,826 stock options granted to eligible employees on August 10, 2026
- Exercise price fixed at Rs 10 per share, equal to the face value
- Exercise period is within 2 years from the date of vesting
- Potential equity dilution of approximately 0.17% based on current market capitalization
- Scheme is compliant with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
Kolte-Patil Developers has submitted its quarterly statement regarding the utilization of Rs 417.03 crore raised through a preferential issue in June 2025. The company reported zero deviation or variation in the use of these funds for the quarter ended June 30, 2026. Notably, the company has extended the timeline for utilizing these proceeds by 12 months, with a new deadline of December 22, 2027. This extension was approved by shareholders via a special resolution during the Annual General Meeting held on July 27, 2026.
- Rs 41,703 Lakhs (Rs 417.03 Cr) raised via preferential issue of equity shares on June 23, 2025
- Zero deviation reported in fund utilization for the quarter ended June 30, 2026
- Utilization timeline extended by 12 months to December 22, 2027
- Shareholder approval for the extension obtained on July 27, 2026
- Monitoring agency CARE Ratings Limited confirmed the status of fund usage
Kolte-Patil Developers approved its Q1 FY27 results for the period ended June 30, 2026. The consolidated performance included a revenue contribution of Rs 38.28 Cr from 20 reviewed subsidiaries, which collectively posted a net loss of Rs 1.81 Cr. Standalone results were supported by a minor profit share of Rs 0.23 Cr from partnership entities. Notably, Q1 FY26 figures were restated to reflect the amalgamation of Kolte-Patil Integrated Townships Limited, which had contributed Rs 6.55 Cr in profit in the prior-year period.
- Consolidated revenue from 20 reviewed subsidiaries totaled Rs 38.28 Cr for Q1 FY27
- Net loss from these 20 subsidiaries stood at Rs 1.81 Cr for the quarter
- Standalone profit share from 8 partnership entities and LLPs contributed Rs 23 lakhs
- Restated Q1 FY26 revenue for the amalgamated KPIT subsidiary was Rs 4.82 Cr
- Group share of loss from 3 associates amounted to Rs 26 lakhs for the quarter
Kolte-Patil Developers has informed the exchanges that it will not host a conference call following its Q1FY27 results. The company cited an ongoing phase of integration, leadership transition, and internal restructuring aimed at strengthening governance and operational efficiency. This comes after a weak FY26 where the company reported a net loss of ₹35.11 Cr on revenue of ₹713.51 Cr. While the company has provided links to its investor presentation, the lack of a live Q&A session during a transition period may limit immediate clarity for stakeholders.
- Company will not host a conference call for Q1FY27 results announced on August 10, 2026
- Cites 'leadership transition' and 'internal restructuring' as reasons for the change in routine
- FY26 annual performance showed a net loss of ₹35.11 Cr against a ₹81.96 Cr profit in FY25
- Company maintains a development pipeline of 36 Mn sq. ft. across Pune, Mumbai, and Bengaluru
- Promoter holding remains stable at 73.81% as of June 2026
Kolte-Patil Developers has announced a massive expansion in the Mumbai Metropolitan Region (MMR) by signing six society redevelopment projects with a total estimated Gross Development Value (GDV) of ~Rs. 6,000 crore. This pipeline is highly significant, representing approximately 8.4x the company's TTM revenue of Rs. 714 crore. The projects are located in prime micro-markets including Santacruz West and Andheri West, with launches planned over the next 6-12 months. This move aligns with the company's strategy to diversify its geographic footprint and increase the sales contribution from Mumbai and Bengaluru to 25%.
- Signed six new society redevelopment projects in MMR with a combined estimated GDV of ~Rs. 6,000 crore.
- The Santacruz West project is the largest in this batch with an estimated GDV of ~Rs. 1,930 crore.
- All six projects are expected to be launched within the next 6 to 12 months, subject to approvals.
- The expansion targets high-demand micro-markets like Andheri West (Rs. 1,420 cr GDV) and Oshiwara (Rs. 800 cr GDV).
- This marks the company's largest annual business development addition in the MMR region to date.
Kolte-Patil Developers Limited has appointed M/s Harshad S. Deshpande as the Cost Auditor for the financial year 2026-27. The appointment was approved by shareholders at the 35th Annual General Meeting held on July 27, 2026. The auditor, who has over 21 years of experience, will audit the company's cost records effective from April 1, 2026. This is a standard regulatory compliance procedure for companies in the construction sector.
- Appointment of M/s Harshad S. Deshpande as Cost Auditor for the financial year 2026-27
- Shareholder approval obtained during the 35th AGM held on July 27, 2026
- The auditor brings over 21 years of professional experience in cost and management accounting
- Appointment is effective retrospectively from April 1, 2026
Financial Performance
Revenue Growth by Segment
Standalone revenue from operations grew 88% YoY to INR 1,088.60 Cr in FY25 from INR 579.14 Cr in FY24. Consolidated revenue reached INR 1,717.38 Cr in FY25, a 25.2% increase from INR 1,371.48 Cr in FY24, driven by strong sales velocity in ongoing projects.
Geographic Revenue Split
The company is heavily concentrated in the Pune market, which is its primary revenue driver. However, it is expanding into Mumbai and Bengaluru, with a strategic target to increase the revenue contribution from these non-Pune markets to 20-25% in FY26.
Profitability Margins
Consolidated Net Profit (PAT) for FY25 was INR 104.21 Cr (6.07% margin) compared to a loss of INR 67 Cr in FY24. Standalone PAT margin improved to 6.30% in FY25 from -12.30% in FY24, reflecting a significant turnaround in operational efficiency.
EBITDA Margin
Consolidated EBITDA margin improved to 12.9% in FY25 (INR 222.23 Cr) from 5.4% in FY24. Standalone EBITDA margin turned positive at 9.67% (INR 105.25 Cr) compared to -10.33% in FY24, driven by higher revenue recognition and better cost management.
Capital Expenditure
While specific historical Capex figures are not detailed, the company maintains a development pipeline of 36 Mn sq. ft. and recently raised INR 109.94 Cr through NCDs from Marubeni Corporation to fund construction and project development.
Credit Rating & Borrowing
The company holds a 'CRISIL AA-/Stable' and 'CARE AA-/Stable' rating for its long-term bank facilities and NCDs. Borrowing costs are managed through a mix of bank debt (40-50%) and NCDs, with a Debt/CFO ratio expected to improve to 1.3-1.4x in FY25.
Operational Drivers
Raw Materials
Key raw materials include steel, cement, sand, and bricks. While specific percentage breakdowns are not disclosed, the company identifies raw material price volatility as a significant risk to construction margins.
Import Sources
Sourced primarily from domestic suppliers within India, particularly in the regions of Maharashtra (Pune/Mumbai) and Karnataka (Bengaluru) to support local project execution.
Key Suppliers
Not specifically named in the documents, but the company leverages long-standing relationships and fixed-price contracts to mitigate input cost inflation.
Capacity Expansion
Current track record includes 300 lakh sq. ft. (30 Mn sq. ft.) delivered. The planned expansion involves a development pipeline of 36 Mn sq. ft. across Pune, Mumbai, and Bengaluru to sustain long-term growth.
Raw Material Costs
Raw material costs are a major component of construction expenses; the company mitigates volatility by negotiating fixed-price contracts and leveraging supplier relationships to ensure cost predictability.
Manufacturing Efficiency
Efficiency is measured by project execution speed and sales velocity. 9M FY25 saw an all-time high in collections of INR 1,729 Cr, a 17% growth YoY, indicating high operational efficiency in converting sales to cash.
Logistics & Distribution
Not disclosed as a specific percentage of revenue, as the business model is based on on-site construction and real estate sales rather than physical product distribution.
Strategic Growth
Expected Growth Rate
15-25%
Growth Strategy
Growth will be achieved by launching the 36 Mn sq. ft. development pipeline, increasing the sales contribution from Mumbai and Bengaluru to 25%, and leveraging strategic partnerships with Blackstone (40% stakeholder) and Marubeni Corporation for capital and expertise.
Products & Services
Residential apartments (mid-premium and luxury), integrated townships, gated communities, commercial complexes, and IT parks.
Brand Portfolio
Kolte-Patil (mid-premium/premium), 24K (luxury), and 24K Manor.
New Products/Services
New project launches like LaVita in Vashi (Navi-Mumbai) and 24K Manor in Pune are expected to contribute significantly to the FY26 sales target of INR 2,900-3,000 Cr.
Market Expansion
Targeting aggressive expansion in Mumbai and Bengaluru to reduce geographic concentration in Pune, with a focus on high-potential micro-markets.
Market Share & Ranking
One of the largest residential real estate developers in Pune with a 30-year track record and over 300 lakh sq. ft. delivered.
Strategic Alliances
Key alliances include Blackstone Group (Foreign Promoter with 40% stake), Marubeni Corporation (Japan), and Motilal Oswal for project-level investments.
External Factors
Industry Trends
The industry is seeing a shift toward branded developers with strong execution track records. KPDL is positioning itself for this by expanding its luxury '24K' brand and diversifying geographically to capture growth in Mumbai and Bengaluru.
Competitive Landscape
Faces intense competition from local and national developers in Pune, Mumbai, and Bengaluru, which can pressure pricing and customer acquisition costs.
Competitive Moat
The moat is built on a 30-year brand legacy in Pune, a massive 36 Mn sq. ft. pipeline, and financial backing from global giants like Blackstone. This is sustainable due to the high entry barriers for large-scale township development.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles and GDP growth, as these directly impact home loan affordability and overall demand for residential real estate.
Consumer Behavior
Homebuyers are increasingly prioritizing design excellence, transparency, and on-time delivery, which aligns with KPDL's core values.
Geopolitical Risks
Changes in Indian government policies, zoning laws, and environmental regulations are identified as key risks that could delay project approvals.
Regulatory & Governance
Industry Regulations
Operations are strictly governed by RERA (Real Estate Regulatory Authority), local zoning laws, and environmental clearance norms for large-scale developments.
Environmental Compliance
The company tracks environmental regulations and conducts due diligence during land acquisition, though specific ESG compliance costs are not disclosed.
Taxation Policy Impact
The consolidated effective tax rate was approximately 37% in FY25, with INR 61.84 Cr in tax expenses on a PBT of INR 166.05 Cr.
Legal Contingencies
The company identifies 'litigation' as a general risk factor in its cautionary statement, but no specific pending court case values in INR are disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Execution risk associated with the 36 Mn sq. ft. pipeline and the ability to successfully scale operations in the competitive Mumbai and Bengaluru markets.
Geographic Concentration Risk
High concentration in Pune; however, the company is actively diversifying with a target of 20-25% sales from non-Pune markets in the near term.
Third Party Dependencies
Significant reliance on marquee investors like Blackstone (40% equity) and Marubeni for project financing and strategic support.
Technology Obsolescence Risk
Risk is low, but the company focuses on 'innovation' and 'product differentiation' to stay relevant against modern construction standards.
Credit & Counterparty Risk
Receivables quality is supported by strong collections (INR 1,729 Cr in 9M FY25) and committed receivables covering ~70% of construction and debt servicing costs.
