Kolte-Patil Developers Shares Plummet to 52-Week Low After Disappointing Q1 Results
The real estate developer's weak Q1FY25 results led to a 4% drop in share price, hitting a fresh 52-week low of Rs 357 per share.
Koltepatil DevelopersQ1fy25 ResultsReal Estate SectorSharesStock MarketBseReal Estate MumbaiAug 09, 2024
The company's consolidated profit (bottomline) witnessed a significant decline of 86.5% year-on-year (Y-o-Y) to Rs 6.2 crore in the June quarter of FY25, compared to Rs 46 crore in the June quarter of FY24.
Kolte-Patil Developers' revenue from operations, or topline, also dropped by 40.4% annually to Rs 340.7 crore in the June quarter of FY25, from Rs 571.2 crore in the June quarter of FY24.
At the operating front, earnings before interest, tax, depreciation and amortisation (Ebitda) dropped nearly 70% year-on-year to Rs 27.7 crore in Q1FY25, from Rs 91 crore in Q1FY24. Consequently, Ebitda margin or operating profit margin (OPM) contracted 790 basis points (bps) to 8.1% in the June quarter of FY25, from 16% in the June quarter of FY24.
Kolte-Patil Developers operates in the real estate sector, focusing on both residential and commercial properties, with a strong foothold in Pune and expanding presence in Mumbai and Bengaluru. The company markets its projects under two distinct brands, including 'Kolte-Patil,' which caters to the mid-income segment, and '24K,' which targets the premium luxury market.
The company has delivered over 26 million square feet of space across these three major cities. The market capitalisation of Kolte-Patil Developers is Rs 2,737.68 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category.
At 1 50 PM, shares of the real estate developer were trading 3.16% lower at Rs 360.20 per share. In comparison, BSE Sensex was up 1.01% at 79,686.13 levels.
About Kolte-Patil Developers
Kolte-Patil Developers Ltd is a real estate development company that operates in the residential and commercial sectors. The company was founded in 1991 and is headquartered in Pune, India.
Frequently Asked Questions
What was the impact of Kolte-Patil Developers' Q1FY25 results on its share price?
The share price fell by as much as 4.01% to reach a fresh 52-week low of Rs 357 per share.
What was the decline in Kolte-Patil Developers' consolidated profit in Q1FY25?
The company's consolidated profit (bottomline) witnessed a significant decline of 86.5% year-on-year (Y-o-Y) to Rs 6.2 crore in the June quarter of FY25.
What was the drop in Kolte-Patil Developers' revenue from operations in Q1FY25?
The revenue from operations, or topline, dropped by 40.4% annually to Rs 340.7 crore in the June quarter of FY25.
What is the market capitalisation of Kolte-Patil Developers?
The market capitalisation of Kolte-Patil Developers is Rs 2,737.68 crore, according to Bombay Stock Exchange (BSE).
Under which category does Kolte-Patil Developers fall on the BSE?
The company falls under the BSE SmallCap category.
Related News Articles
Shraddha Kapoor Bags Luxurious Mumbai Apartment for Rs 6 Lakh Monthly Rent
Bollywood actress Shraddha Kapoor, fresh off the heels of her starrer 'Stree 2', has added a new property to her portfolio by renting a premium flat in Mumbai's Juhu for a steep Rs 6 lakh per month. The flat, spanning 3,929 sq ft, comes with a luxury base
Mumbai: Real Estate Developers Applaud BMC's Decision to Suspend Construction in Polluted Areas
The real estate sector in Mumbai has welcomed the BMC's decision to pause construction in areas with poor air quality, highlighting the move's potential to reduce environmental impact.
Shriram Properties Targets ₹5,000 Crore Sales by FY27 with Mid-Income Housing Push
Shriram Properties aims to double sales to ₹5,000 crore by FY27, driven by mid-income housing demand and consolidation in the real estate sector.
Festive Season Boosts Real Estate Activity in Mumbai, Bengaluru, and Hyderabad
Mumbai, Bengaluru, and Hyderabad have witnessed a surge in real estate activity, with the festive season adding a boost to property purchases and investments.
Strategic Land Acquisitions: The Key to Macrotech Developers' Success
Pune, real estate, housing projects, revenue growth, sales bookings, realty sector
Step into the Real-Life Amityville Horror: Simi Valley Poltergeist House for Sale
The infamous Simi Valley Poltergeist House, made famous by the 1982 horror film, is now on the market for the first time since its construction. But don't expect any ghostly roommates.