Kolte-Patil Developers Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 25, 2023 at 03:48 am EDT
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Kolte-Patil Developers Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 7,969.3 million compared to INR 3,760.7 million a year ago. Revenue was INR 8,044.2 million compared to INR 3,809.9 million a year ago. Net income was INR 1,169 million compared to INR 268.2 million a year ago. Basic earnings per share from continuing operations was INR 15.38 compared to INR 3.53 a year ago. Diluted earnings per share from continuing operations was INR 15.38 compared to INR 3.53 a year ago.
For the full year, sales was INR 14,884.3 million compared to INR 11,174.8 million a year ago. Revenue was INR 15,210.2 million compared to INR 11,365 million a year ago. Net income was INR 1,024.5 million compared to INR 794.1 million a year ago. Basic earnings per share from continuing operations was INR 13.48 compared to INR 10.45 a year ago. Diluted earnings per share from continuing operations was INR 13.48 compared to INR 10.45 a year ago.
Kolte-Patil Developers Limited is an India-based real estate company. The Company is engaged in the business of construction of residential, commercial, IT parks along with renting of immovable properties, retail, and providing project management services for managing and developing real estate projects. It has a presence in three Indian markets: Pune, Mumbai and Bengaluru. The Company markets its projects under two brands: Kolte-Patil (addressing the mid-priced and premium segment) and 24K (addressing the premium luxury segment). The Company has developed and constructed over 58 projects, including residential complexes, integrated townships, commercial complexes and IT parks covering a saleable area of >26 Mn sq. ft. across Pune, Mumbai, and Bengaluru. Its projects include Aros, Sound of Soul, 24K Altura, Little Earth, 24K Stargaze, K52, Alora, Raaga, and I Towers Exentre. The Company also operates two new housing society redevelopment projects in the western suburbs of Mumbai.