Revenue from operations declined 65.4% year-on-year to ₹248.6 crore from ₹718.7 crore, while the company reported an EBITDA loss of ₹6 crore against an EBITDA profit of ₹106.4 crore in the corresponding quarter last year.
The company said the nature of its business is such that profit/loss is not accrued evenly through the year, adding that quarterly performance may not necessarily be representative of annual profitability.
Commenting on the results, Rajesh Patil, Managing Director, said FY26 was a transition and recalibration year for the business, marked by the onboarding of Blackstone Inc as a 40% strategic partner.
He added that the company undertook structural initiatives during the year, including strengthening the board, reshaping the leadership team and sharpening execution and capital allocation frameworks.
On the earnings performance, the company stated that it follows CCM-based accounting, under which revenue and profit recognition depend on the timing of project completion as per statutory accounting guidelines.
As a result, reported profitability remained muted due to lower revenue recognition during the quarter.
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Shares of Kolte-Patil Developers Limited ended lower on Friday ahead of the announcement of the results. The stock settled at ₹391.25 on the NSE, down ₹2.60 or 0.66%, from the previous close.
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(Edited by : Shoma Bhattacharjee)
First Published: May 22, 2026 8:02 PM IST
