Buy Kolte-Patil Developers, target price Rs 380: HDFC Securities

HDFC Securities has buy call on Kolte-Patil Developers Ltd. with a target price of Rs 380. The current market price of Kolte-Patil Developers is Rs 317.2.

Kolte-Patil Developers Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 2472.80 Crore) operating in Real Estate sector.

Kolte-Patil Developers Ltd. key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Project Management Fees for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 204.37 Crore, down -46.36 % from last quarter Total Income of Rs 380.99 Crore and up 1.50 % from last year same quarter Total Income of Rs 201.35 Crore. Company has reported net profit after tax of Rs 26.33 Crore in latest quarter.

The company’s top management includes Mr.Rajesh Patil, Mr.Girish Vanvari, Mr.Jayant Pendse, Mr.Achyut Watve, Mr.Umesh Joshi, Mr.Prakash Gurav, Mrs.Vandana Patil, Mr.Nirmal Kolte, Mr.Milind Kolte, Mr.Yashvardhan Patil, Mr.Naresh Patil, Mrs.Sudha Navandar. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 8 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 74.45 per cent stake in the company as of 30-Sep-2022, while FIIs owned 0.98 per cent, DIIs 3.71 per cent.