HSIE Results Daily 25/05/2026: Kolte Patil Developers

Authored By Prime Research | Last Modified: May 25, 2026 03:20 PM IST

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High Time to Press Execution Button

KPDL reported quarterly presales of 0.74msf, valued at INR 7.1bn, supported by strong realization growth and sustenance sales.

The company is prioritizing faster approvals, technology-led construction efficiencies, and capital-light development models to improve liquidity and project execution.

Q4FY26 financial performance: Revenue stood at INR 2.4bn while EBITDA came at INR -60mn. APAT remained negative due to weak execution and lower collections.
Presales momentum: Quarterly presales stood at 0.74msf (+13.2% YoY), with average realization increasing sharply.
Collections: Collections stood at INR 8.3bn, supported by project launches and sustenance sales.
Expansion strategy: KPDL launched projects across key Pune markets including NIBM, Wadgaon, and Lakshmiratan.
Strong balance sheet: Net cash stood at INR 5bn, while operating cash flow remained positive.
Outlook: Management expects growth acceleration through execution improvement, urbanization trends, and infrastructure push.

Consolidated Financial Summary (INR mn)

Particulars	4QFY26	4QFY25	YoY (%)	3QFY26	QoQ (%)	FY26	FY27E	FY28E
Net Sales	2,486	7,187	(65.4)	2,653	(6.3)	7,350	16,681	23,346
EBITDA	(60)	1,064	(105.7)	81	(174.6)	(113)	1,707	3,245
APAT	(158)	653	(124.1)	45	(450.0)	(386.7)	1,032	2,223
EPS (INR)	(2.1)	8.6	(124.1)	0.6	(450.0)	(5.1)	13.6	29.3
P/E (x)							26.6	12.4
EV / EBITDA (x)							20.1	11.1
RoE (%)							11.2	21.2

Change in Estimates (INR mn)

Particulars	FY27E New	FY27E Old	Chg (%)	FY28E New	FY28E Old	Chg (%)
Revenues	16,681	21,677	(23.0)	23,346	24,928	(6.3)
EBITDA	1,707	2,669	(36.1)	3,245	3,782	(14.2)
EBITDA (%)	10.2	12.3	(208.1)	13.9	15.2	(127.4)
APAT	1,032	1,777	(41.9)	2,223	2,670	(16.8)

BUY

CMP (as on 22 May 2026)	INR 391
Target Price	INR 456
NIFTY	23,719

Key Changes

	OLD	NEW
Rating	BUY	BUY
Price Target	INR 414	INR 456
EPS Change FY27E	-41.9
EPS Change FY28E	-16.8

Key Stock Data

Bloomberg code	KPDL IN
No. of Shares (mn)	89
MCap (INR bn)	35
6m avg traded value (INR mn)	52
52 Week high / low	INR 498 / 292

Stock Performance (%)

	3M	6M	12M
Absolute (%)	9.2	(0.3)	1.6
Relative (%)	18.1	11.3	8.5

Shareholding Pattern (%)

	Dec-25	Mar-26
Promoters	73.81	73.81
FIs & Local MFs	8.77	9.96
FPIs	3.76	3.38
Public & Others	13.65	12.82
Pledged Shares	0.0	0.0

Source:

BSE
Company, HSIE Research

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