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Kolte-Patil Developers Ltd has reported a consolidated net loss of INR 16.99 crore for the quarter ending June, a shift from a profit in the same period last year. The company's total income also saw a sharp decline to INR 96.81 crore. This financial performance, reported today, follows a period where the real estate firm had recorded a profit of INR 6.23 crore in the year-ago period and a significantly higher total income. Kolte-Patil Developers is a leading real estate firm with a notable presence in Pune, Mumbai, and Bengaluru.
Realty firm Kolte-Patil Developers Ltd today reported a consolidated net loss of INR 16.99 crore for the quarter that ended in June. This marks a change from the same period last year, when the company had posted a profit of INR 6.23 crore.
The company's total income also saw a significant drop, falling to INR 96.81 crore during the April-June period of the current fiscal year. This is down from INR 350.29 crore in the corresponding period of the preceding year, according to a regulatory filing. This indicates a challenging quarter for the company in terms of both revenue and profitability.
Kolte-Patil Developers is one of the leading real estate firms in India. The company has a strong presence in Pune and a growing presence in Mumbai and Bengaluru, with a portfolio that includes residential, commercial, and township projects. Its major projects include the large-scale Life Republic township in Hinjewadi, Pune, as well as various luxury residential projects in Mumbai like K52 and Alora.
Source- PTI
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