Kolte-Patil Developers top line surges by 37 per cent

Written by Businesswire India | Mumbai, July 30: | Updated: Jul 31 2008, 15:31pm hrs
-- 17% growth in revenues and 37% PBT growth on consolidated basis

-- Earnings per share ( Basic) is Rs 4.18 and diluted Rs.4.15

-- Launched Lush County, a luxury housing project in association with ICICI Venture Funds Management Co. Ltd. (ICICI Ventures) and Pristine Properties

-- Inaugurated first international (representative) office in Dubai

Kolte-Patil Developers Ltd (KPDL), one of Indias leading builders and real estate developers announced results for the first Quarter of FY 08-09.

During the first quarter of FY 08-09, consolidated results reflect superior growth. Revenues have grown 17% percent, increasing from Rs 88.96 crores to Rs.103.93 crores. The Companys PBT recorded a 37% percent increase from Rs. 34.54 crores to Rs.47.24 crores.

-- KPDL have recently launched Lush County, a luxury housing project in association with ICICI Venture Funds Management Co. Ltd. (ICICI Ventures) and Pristine Properties. This 80-acre project located at Wagholi, will be developed over 53 acres, and will offer luxurious twin bungalows and 3-4 BHK lifestyle residences to elevate living to an experience par excellence. Kolte Patil will invest Rs 400 crore in this project.

-- KPDL inaugurated its first international office in Dubai with the objective to assist NRIs and other nationals looking at viable investment options in KPDL projects in India.

About Kolte-Patil Developers Limited

Kolte-Patil Developers ltd. is a leading real estate development company in India with a strong presence in Pune, Mumbai and Bangalore. Over the last 17 years, they have to their credential construction ventures in residential projects, integrated townships, IT parks, commercial complexes and hospitality sector. In May 2002, the company was accredited with an ISO 9001 (2000 series) certification. In August 2006. Kotle-Patil received the Government of Maharashtra's First prize for " Best IT Infrastructure in the state of Maharasthra," for GigaSpace IT park project in Pune. In November 2007, the company filed for an IPO.