Kolte-Patil Developers Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 06, 2023 at 03:03 am
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Kolte-Patil Developers Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 3,680.8 million compared to INR 2,403.2 million a year ago. Revenue was INR 3,744.6 million compared to INR 2,447 million a year ago. Net loss was INR 268.9 million compared to net income of INR 53.7 million a year ago. Basic loss per share from continuing operations was INR 3.54 compared to basic earnings per share from continuing operations of INR 0.71 a year ago. Diluted loss per share from continuing operations was INR 3.54 compared to diluted earnings per share from continuing operations of INR 0.71 a year ago.
For the nine months, sales was INR 6,915 million compared to INR 7,414.1 million a year ago. Revenue was INR 7,166 million compared to INR 7,555.1 million a year ago. Net loss was INR 144.5 million compared to net income of INR 525.7 million a year ago. Basic loss per share from continuing operations was INR 1.9 compared to basic earnings per share from continuing operations of INR 6.92 a year ago. Diluted loss per share from continuing operations was INR 1.9 compared to diluted earnings per share from continuing operations of INR 6.92 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.