Kolte-Patil Developers shares surged as much as 18.56% to hit a fresh 52-week high of Rs 550 apiece on the BSE on Tuesday, after the real estate developer reported a sharp improvement in its June quarter earnings.
At 9:27 am, the stock was trading 12.31% higher at Rs 521, while the BSE Sensex was down 0.4% at 78,210.
The stock's rally came after Kolte-Patil reported a strong operational and financial performance for the first quarter of FY27.
Kolte-Patil Developers reported a net profit of Rs 146 crore in Q1FY27 versus net loss of Rs 17 crore in Q1FY26.
Revenue zoomed to Rs 920 crore from Rs 82.4 crore a year ago. At the operating front, EBITDA came in at Rs 190 crore in the June quarter of FY27, against EBITDA loss of Rs 26 crore
The company also reported pre-sales of Rs 617 crore, while collections rose 30% year-on-year (YoY) to Rs 715 crore. Average realisation increased 29% YoY to Rs 9,442 per sq ft.
During the quarter, Kolte-Patil launched around 0.78 million sq ft of saleable area. Its Life Republic township in Pune and the Mumbai Metropolitan Region (MMR) contributed nearly 34% and 30%, respectively, to overall pre-sales.
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The company also added six redevelopment projects in the MMR, with a combined estimated gross development value (GDV) of around Rs 6,000 crore. The projects span Mumbai's Western and Central suburbs as well as Navi Mumbai, marking the company's largest annual business-development addition in Mumbai so far.
The company said the additions reinforce MMR as a priority market, with all six projects expected to be launched over the next six to 12 months, subject to regulatory approvals.
On the Q1 results, Rajesh Patil, managing director, Kolte-Patil Developers, said premium housing continued to perform well during the quarter, while buyers increasingly preferred established developers with a proven execution track record.
He said higher contribution from the company's Mumbai portfolio, along with calibrated price increases, drove the 29% YoY rise in average realisation.
Strong project execution helped the company report record total income of Rs 937 crore during the quarter, while EBITDA margin stood at 22%, supported by a higher contribution from high-margin Life Republic projects.
The company said its focus following its strategic partnership with Blackstone will remain on scaling through larger projects, disciplined capital allocation and value-accretive growth.
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