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.
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