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HomeNewsFinancial/Policy NewsKolte-Patil Developers posts net profit of Rs 120.80 crore in Q4 FY23

Kolte-Patil Developers posts net profit of Rs 120.80 crore in Q4 FY23

Kolte-Patil Developers' net consolidated total income stood at Rs 804.42 crore in Q4 FY23, a growth of 111.14 per cent from Rs 380.99 crore it recorded in the similar quarter last year.

Kolte-Patil Developers has reported a growth of 352.77 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 120.80 crore in Q4 FY23 as against Rs 26.68 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 804.42 crore in Q4 FY23, a growth of 111.14 per cent from Rs 380.99 crore it recorded in the similar quarter last year.

The debenture allotment committee of board of directors have allotted 14,000 secured, unlisted, redeemable non-convertible debentures (NCDs) of face value Rs 100,000 each, on a private placement basis, aggregating Rs 140 crore to India Realty Excellence Fund IV. Unless redeemed earlier, NCD’s shall be for a period of 120 months carrying coupon of 0.001% per annum compounded annually.

They have also allotted 20,650 senior, secured, listed, rated, redeemable, zero coupon NCD of face value Rs 100,000 each, on a private placement basis, aggregating Rs 206.50 crore to Marubeni Corporation, Japan unless redeemed earlier, NCD’s shall be for a period of 120 months.

The board recommended final dividend of Rs 4 per equity share of Rs 10 each for the financial year 2022-23.

The board of directors approved raising of funds by way of issue of equity shares and/or secured/unsecured redeemable non-convertible debentures (NCDs) or debt instruments and/or fully or partly convertible debentures and/or bonds (debt instruments) and /or global depository receipts (GDRs) and/or American Depository Receipts (ADRs) in the course of domestic and/or international offerings through public issue and / or private placement and /or rights issue and / or preferential allotment and/or qualified institutional placement (QIP) and/or any other permitted modes or any combinations thereof, in one or more tranches, not exceeding Rs 800 crore.

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