Kolte Patil Developers's Net Loss Narrows To Rs 14.32 Cr For Q3FY20

New Delhi: Kolte Patil Developers Ltd’s consolidated net loss narrowed to Rs 14.32 crore for the third quarter of the current fiscal as compred to Rs 21.68 crore in the same quarter of the previous fiscal.

The total income of the company jumped 76 percent to Rs 134.41 in the third quarter of the ongoing fiscal as against Rs 76.57 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.   

The company clocked new area sales volume of 0.82 million square feet in the third quarter of the current fiscal as against 0.80 million square feet in the corresponding quarter of the previous fiscal. It realisation per square feet in the latest quarter was Rs 4,966 as compared to Rs 5,196 in the year-ago period. It achieved collections of Rs 320 crore in the latest quarter as compared to Rs 2,883 crore in the same quarter of the previous fiscal. 

"As envisaged, we have delivered strong sales of 0.82 msf in Q3 FY20 driven by Life Repubric, Ivy Estate and Opula. Notably, we have achieved this performance in a subdued consumer market,” said Gopal Sarda, croup CEO, Kolte- Patil Developers Ltd in a statement.

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