According to reports from CNBC TV18, Kolte-Patil Developers Limited reported a net loss of ₹15.8 crore in the fourth quarter compared with a profit of ₹65.3 crore in the year-ago period. The company's revenue from operations declined 65.4% year-on-year to ₹248.6 crore from ₹718.7 crore in the corresponding quarter last year. Additionally, the company reported an EBITDA loss of ₹6 crore against an EBITDA profit of ₹106.4 crore in the same quarter last year.
As reported by CNBC TV18, Managing Director Rajesh Patil described FY26 as a transition and recalibration year for the business, marked by the onboarding of Blackstone Inc as a 40% strategic partner. The company undertook structural initiatives during the year, including strengthening the board, reshaping the leadership team and sharpening execution and capital allocation frameworks.
According to the company's statement reported by CNBC TV18, the company follows CCM-based accounting, under which revenue and profit recognition depend on the timing of project completion as per statutory accounting guidelines. The company noted that the nature of its business is such that profit/loss is not accrued evenly through the year, and quarterly performance may not necessarily be representative of annual profitability.
As reported by CNBC TV18, shares of Kolte-Patil Developers Limited ended lower on Friday ahead of the results announcement, with the stock settling at ₹391.25 on the NSE, down ₹2.60 or 0.66% from the previous close. The decline occurred before the official announcement of the quarterly results.
