Pune’s largest real estate developer Kolte Patil Developers Ltd (BSE: 532924, NSE: KOLTEPATIL) is now in the limelight following the agreement to raise Rs 193 cr from global investment firm KKR for the Kolte-Patil-I-Ven Townships to be set up in Pune. It is also promoting Life Republic, a 383-acre township located in Pune’s Hinjewadi area.
In May last year, it had announced the completion of the Phase I of the ‘Three Jewels’ Project with 800 apartments ready for occupation. The project when completed would house more than 1600 families.
The company reported net profit of Rs 84.71 cr in 2016-17 as compared to Rs 39.48 cr the previous year. Net sales and income rose sharply from Rs 180.80 cr to Rs 534.48 cr. Net profit for the September quarter rose sharply to Rs 26.58 cr as against Rs 9.,20 cr a year ago.
Analysts are upbeat on the prospects of the company and is not trading at a Price Earnings Multiple of 28.8 and has provided a return of 78% on a quarterly basis. It has given a return on equity of 10.09%.