Real estate firm Kolte-Patil Developers Ltd on Tuesday (November 3) reported a consolidated net profit of ₹5.3 crore for the second quarter of FY27, compared with a net loss of ₹10.4 crore in the corresponding quarter last year.
Revenue more than doubled year-on-year (YoY) to ₹334.4 crore from ₹138.7 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) loss narrowed to ₹0.31 crore from an EBITDA loss of ₹37.2 crore in the year-ago quarter.
The company reported total income of ₹352 crore in Q2 FY27, taking its first-half FY27 total income to a record ₹1,288 crore. The company attributed the performance to revenue recognition from the completion of approximately 1.63 million square feet across projects in Pune and Mumbai.
Record pre-sales and collections
Kolte-Patil Developers recorded its highest-ever quarterly and half-yearly pre-sales of ₹1,019 crore and ₹1,636 crore, respectively, during Q2 and H1 FY27. Quarterly pre-sales increased 52% YoY, while half-yearly pre-sales rose 27%.
Collections increased 33% YoY to ₹795 crore in Q2 FY27 and 32% to ₹1,509 crore in H1 FY27.
During the September quarter, the company launched approximately 1 million square feet at Vyana at The Reserve in Vadgaon, Pune. The project generated pre-sales of ₹616 crore, marking the company’s strongest-ever launch performance.
H1
For H1 FY27, Kolte-Patil Developers reported EBITDA of ₹223 crore, with a margin of 17%. The company attributed this to revenue recognition and a favourable project mix, with a higher contribution from its higher-margin Life Republic developments.
The company’s average realisation increased 10% YoY to ₹8,368 per square foot in H1 FY27, driven by strategic price revisions across projects and a higher contribution from Mumbai projects compared with the previous year.
Kolte-Patil Developers added six redevelopment projects in the Mumbai Metropolitan Region (MMR), with an estimated combined gross development value (GDV) of ₹6,000 crore. The company said this marked its largest annual business development in the region to date.
Hrishikesh Parandekar, Chief Executive Officer, Kolte-Patil Developers Ltd, said, “H1 FY27 has been a landmark period for KPDL, marked by record business performance and significant portfolio expansion. We achieved record quarterly and half-yearly pre-sales, growing 52% and 27% year-on-year, respectively, alongside our highest-ever half-yearly total income, reflecting sustained execution across our development portfolio.
‘Vyana at The Reserve’ in Pune delivered the strongest-ever launch performance in the Company’s history, underscoring the appeal of our product proposition, brand resonance and robust market demand. We also added six redevelopment projects to our Mumbai portfolio, with a combined GDV of Rs. 6,000 crore, representing our largest-ever annual business development addition in the MMR market.
These milestones reflect the scale of our business and the progress in translating our development capabilities into consistent business and financial outcomes. With a robust launch pipeline, good visibility on project completions and sustained sales traction, we are well positioned to build on our H1 performance and deliver a strong finish to FY27 across operational and financial parameters.
Over the past few quarters, we have taken deliberate steps to shape KPDL’s next phase of growth. This goes beyond expanding our business to encompass building a future-ready organisation, sharpening our market positioning and redefining our brand and customer proposition. To support this transition, we have augmented our management team and are investing in organisational capabilities, with greater emphasis on accountability, collaboration and execution excellence.”
Shares of Kolte-Patil Developers Ltd ended at ₹446.05, down by ₹11.90, or 2.60%, on the BSE.