Track2Realty: Kolte-Patil Developers Ltd. has reported a jump of 115% in its net profit to Rs.26.40 crore for the first quarter ended June 30, 2013, compared to Rs.12.26 crore for the first quarter last fiscal. During the same period its revenue increased by 112% to Rs.219.43 crore from Rs.103.29 crore.
The company’s EBIDTA increased by 112% to Rs.66.69 crore for Q1FY14 from Rs.31.47 crore in the same quarter last year.
Sujay Kalele, Group CEO, Kolte-Patil Developers said, “We at Kolte Patil have been successful to attain the momentum with a strong performance which can be reflected through our performance for Q1 FY 14, which in turn is a result of our constant endeavor for the customer satisfaction through quality construction and timely delivery of our projects.”
KPDL managed to keep the EBIDTA margins intact at 30% in Q1FY14.
The basic EPS for Q1FY14 stands at Rs.3.48 compared to Rs.1.62 in Q1FY13.
“With concentration on the few key luxury projects in addition to the townships and affordable housings, we have been able to maintain the growth and the margins during Q1 FY14. We’ll be looking forward to add couple of more projects in our kitty within the existing markets along with adding some of the key projects by entering the newer markets like Mumbai during the current financial year,” Sujay Kalele added.
