Kolte-Patil Developers surges 16% after Q1 PAT turns positive
Net sales rose 1,016.5% YoY and 269.9% QoQ to Rs 919.54 crore during the quarter.
Profit before tax stood at Rs 199.49 crore in Q1 FY27, compared with a pre-tax loss of Rs 22.20 crore in Q1 FY26 and Rs 1.93 crore in Q4 FY26.
On the cost front, total expenses increased 552.8% YoY and 184.5% QoQ to Rs 734.62 crore. Employee expenses rose 24.4% YoY to Rs 29.64 crore. Interest costs declined 66.6% YoY to Rs 2.25 crore, while depreciation and amortisation expenses increased 8.8% YoY to Rs 4.59 crore.
Adjusted EBITDA stood at Rs 206 crore in Q1 FY27, compared with a loss of Rs 11 crore in Q1 FY26. The adjusted EBITDA margin stood at 22%, compared with a negative 11.6% margin a year ago. The strong EBITDA margin was supported by a higher contribution from high-margin Life Republic projects.
The company recorded total income of Rs 937 crore, driven by the completion of around 1.27 million sq ft across projects in Pune and Mumbai. Collections rose 30% YoY to Rs 715 crore, while average realisation increased 29% YoY to Rs 9,442 per sq ft. Pre-sales stood at Rs 617 crore and launches covered 0.78 million sq ft of saleable area.
Kolte-Patil added six redevelopment projects to its Mumbai Metropolitan Region portfolio, with a combined estimated gross development value of around Rs 6,000 crore. The projects are spread across Mumbai's Western and Central suburbs and Navi Mumbai, and are expected to be launched over the next six to 12 months, subject to requisite approvals.
The company said the higher contribution from its Mumbai portfolio and calibrated price revisions across projects helped drive the increase in average realisation.
Kolte-Patil Developers is a real estate developer with a presence across Pune, Mumbai and Bengaluru, focused primarily on residential projects.
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