The share price of this real estate company jumped up to 3 percent after the company signed an agreement with a Japan-based company Marubeni Corporation for the development of the residential project in Mumbai.
Kolte Patil Developers Ltd is a small-cap company with a market capitalization of Rs 3,709.78 crores. The company shares were trading at Rs 497.70 a share, an increase of 2 percent from the previous close price of Rs 488.10 a share.
According to the exchange filing, Kolte Patil Developers Ltd came into an agreement with Marubeni Corporation for the Alora project (Residental). As a part of this agreement, Marubeni Corporation will invest Rs. 110.90 crore in the Alora project. Alora project was Launched in February 2023 and has a total development potential of around 1.3 lakh sq. ft.
This agreement is the second collaboration between KPDL and Marubeni Corporation, following a previous agreement for the residential project in the Pimple-Nilakh micro market in Pune last year.
Have a look into the company’s finances, the company’s revenue increased by 60.69 percent from Rs 123.31 Q2FY23 to Rs 198.15 Q2FY24. Further, During the same period, net loss magnified from Rs 6.39 crores to Rs 24.04 crores.
The company reported excellent return ratios from the previous financial year. Return on equity (ROE) increased from 10.08 percent in FY 2021-22 to 11.31 percent in FY 2022-23, and in the same time frame, the return on capital employed (ROCE) increased from 12.82 percent to 13.71.
As per the recent shareholding pattern, the company’s promoters own 74.45 percent, retail shareholders own 18.96 percent stake and foreign institutional investors own a 2.64 percent stake in the company.
Company stock gave an 88.41 percent return in one month and 49.79 percent in six months.
Kolte-Patil Developers Ltd is a leading real estate firm, that is engaged in the business of real estate including Residential and commercial projects.
Written by:- Abhishek Singh.
