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Revenue from operations jumped 60.69% year on year to Rs 198.15 crore in the Q2 FY24 as against Rs 123.31 crore recorded in Q2 FY23.
The company reported pre-tax loss of Rs 16.95 crore in Q2 FY24 as compared with pre-tax loss of Rs 6.20 crore recorded in corresponding quarter last year.
Total expenses jumped 53.04% YoY to Rs 219.59 crore during the quarter. Cost of services, construction and land was at Rs 131.51 crore (up 50.56% YoY) and employee benefits expenses stood at Rs 22.79 crore (up 16.57% YoY) in Q2 FY24.
Kolte-Patil Developers is a real estate company with dominant presence in the Pune residential market, and growing presence in Mumbai and Bengaluru. The company has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of approximately 25 million square feet across Pune, Mumbai and Bengaluru.
The scrip rose 0.37% to Rs 517.25 on the BSE.
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