Revenue from operations plummeted by 65.4% year-on-year, dropping to ₹248.6 crore from ₹718.7 crore, while the company recorded an EBITDA loss of ₹6 crore as opposed to an EBITDA profit of ₹106.4 crore during the corresponding quarter last year.
The company explained that the nature of its operations means profit/loss does not accumulate uniformly throughout the year, and quarterly results may not accurately reflect annual profitability.
In his commentary on the results, Managing Director Rajesh Patil stated that FY26 was a year of transition and recalibration for the business, highlighted by the onboarding of Blackstone Inc as a 40% strategic partner. He noted that the company implemented structural changes during the year, which included strengthening the board, reshaping the leadership team, and enhancing execution and capital allocation frameworks.
Regarding earnings performance, the company clarified that it adopts CCM-based accounting, where revenue and profit recognition hinge on the timing of project completion per statutory accounting standards.
This has resulted in reported profitability being subdued due to diminished revenue recognition during the quarter.
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Shares of Kolte-Patil Developers Limited closed lower on Friday ahead of the results announcement, with the stock settling at ₹391.25 on the NSE, down ₹2.60 or 0.66% from the previous close.
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(Edited by : Shoma Bhattacharjee)
First Published: May 22, 2026 8:02 PM IST
