Kolte Patil Developers suffers net loss of Rs 27 cr for Q1FY21

New Delhi: Pune-based Kolte Patil Developers Ltd suffered a consolidated net loss of Rs 27 crore for the first quarter of the current fiscal as against a net profit of Rs 130 crore in the corresponding quarter of the previous fiscal.

The consolidated revenues from operations fell 76 percent to Rs 140 crore for the first quarter of the current fiscal as compared to Rs 585 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

The total expenses of the company fell to Rs 175 crore for the first quarter of the current fiscal as compared to Rs 418 crore in the corresponding quarter of the previous fiscal.

The company achieved sales volume of 0.31 million square feet in the first quarter of the current fiscal, the booking value was Rs 164 crore. The collections of the company were Rs 105 crore in the first quarter of the current fiscal. The collections were negatively affected because of the lockdown for most part of the first quarter. There was “substantial reduction” in construction and even labour force. The registrations of properties suffered due to of closure of government offices.

 

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