Kolte-Patil Developers Q1 profit jumps two-fold to Rs 46 crore

New Delhi: Realty firm Kolte-Patil Developers on Friday reported over two-fold jump in consolidated net profit to Rs 45.96 crore in the first quarter of the current fiscal due to better income.

The company had posted a net profit of Rs 21.23 crore in the year-ago period.

Total income of the company also more than doubled to Rs 578.51 crore in the June quarter from Rs 204.37 crore a year ago, according to a regulatory filing.

On the operational front, Kolte-Patil Developers reported a 58 per cent increase in its sales bookings to Rs 701 crore in the first quarter of this fiscal, up from Rs 445 crore in the year-ago period.

Pune-based Kolte-Patil Developers Ltd also has presence in Mumbai and Bengaluru. It has built 58 projects, including residential complexes, integrated townships, commercial complexes and IT Parks, with a saleable area of about 26 million square feet.