Kolte-Patil Q4 net profit at Rs20.9cr, sales surge to Rs296cr; Stock up 1%

The company reports the highest quarterly sales volumes in last six years in Q4FY21, at 0.85 msf, up 53% qoq.

Jun 01, 2021 10:06 IST India Infoline News Service

Kolte-Patil Developers Ltd. (KPDL), a leading Pune-based real estate player, with a growing presence in Mumbai and Bengaluru, announced its results for the fourth quarter and year ended March 31, 2021.

The company’s consolidated net profit stood at Rs20.9cr in Q4FY21 compared with a net loss of Rs16.5cr in Q4FY20. Revenue from Operations surged to Rs296cr in Q4FY21 as against Rs221.7cr in Q4FY20. EBITDA stood at Rs38.9cr in Q4FY21 as against Rs3.8cr in Q4FY20. EBITDA margin improved to 13.1% in Q4FY21 from 1.7% in Q4FY20.

Volumes jumped 27.1% to 0.85 million sq. ft. in Q4FY21 as compared to 0.67 million sq. ft. in Q4FY20. Value spurted 42.7% to Rs510.90cr in Q4FY21 as against Rs358.10cr in Q4FY20. Realization grew 12.3% to Rs5,988 per sq. ft. in Q4FY21 over Rs5,333 per sq. ft. in Q4FY20. Collections gained 16.8% to Rs441.50cr in Q4FY21 from Rs378.10cr in Q4FY20.

“KPDL has ended FY21 on a strong note, achieving a noteworthy turnaround in all key parameters in H2FY21. Despite operating in Pune and Mumbai, two cities which have been most impacted by the pandemic, compared to H1, our H2 collections were up 2.7x to Rs823cr, H2 sales value up 2.4x to Rs842cr and H2 sales volume up 2x to 1.41 msf. This allowed us to report FY21 sales bookings of 2.08 msf, higher by 15.6% over the stated guidance of 1.8 msf.

We have hit significant sales milestones in Q4FY21. Q4FY21 has been our best ever sales quarter in the last six years both in terms of volume and value. Sales traction has been strong across markets,” Gopal Sarda, Group CEO, Kolte-Patil Developers Limited, said.

Durinng early trade on Tuesday, Kolte Patil Developers Ltd was trading at Rs228 per piece up by Rs2.7 or 1.2% from its previous closing of Rs225.30 per piece on the BSE.

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