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