Company Results
Kolte-Patil Posts Record Q2 FY27 Sales of Rs 1,019 Crore, Up 52%
Kolte-Patil Developers reported its highest-ever quarterly sales of Rs 1,019 crore for the July to September 2026 quarter, up 52% from Rs 670 crore a year earlier. The Pune-headquartered developer attributed most of the quarter's sales to the Vyana at The Reserve launch in Vadgaon, Pune.
| Q2 FY27 sales | Rs 1,019 crore, up 52% year on year (from Rs 670 crore in Q2 FY26) |
|---|---|
| H1 FY27 sales | Rs 1,636 crore, up 27% year on year, a company record for a half-year |
| Q2 FY27 collections | Rs 795 crore, up 33% year on year |
| H1 FY27 collections | Rs 1,509 crore, up 32% year on year |
| Vyana at The Reserve, Q2 sales | Rs 616 crore |
| Average realisation, H1 FY27 | About Rs 8,368 per sq ft, up 10% year on year |
| Average realisation, Q2 FY27 | About Rs 7,829 per sq ft, against Rs 7,823 a year earlier |
| Data as of | Company exchange filing dated 13 October 2026 |
What the company reported
In an exchange filing dated 13 October 2026, Kolte-Patil Developers Limited (NSE: KOLTEPATIL) reported sales of Rs 1,019 crore for the quarter ended 30 September 2026 (Q2 FY27). The figure is 52% higher than the Rs 670 crore recorded in the same quarter of the previous year, and the company described it as its highest-ever quarterly sales.
For the first half of FY27 (April to September 2026), sales totalled Rs 1,636 crore, up 27% year on year. The company also described this as a record for a half-year period.
Collections rose 33% year on year to Rs 795 crore in Q2. For the first half, collections reached Rs 1,509 crore, up 32%.
The Vyana at The Reserve launch
Most of the quarter's sales came from Vyana at The Reserve, the first phase of The Reserve, a residential project in Vadgaon on the Sinhgad Road corridor in Pune. The company announced the launch on 10 September 2026, saying more than 600 apartments were booked and sales crossed Rs 600 crore within 60 hours.
The Q2 sales from Vyana were Rs 616 crore. The company said this was its strongest single-launch performance. The project offers 2 and 3 bedroom residences with amenities.
The Reserve, as a whole, is a 20-acre riverside development. The company has described it as having about 5 million sq ft of potential saleable area, an expected gross development value (GDV) of Rs 4,000 crore, and launches in multiple phases.
Pricing and realisation
The company reported average realisation of about Rs 8,368 per sq ft for H1 FY27, up 10% year on year. It attributed the rise to strategic price revisions and a higher contribution from Mumbai projects.
The Q2 figure tells a different story. Average realisation for the quarter was about Rs 7,829 per sq ft, compared with Rs 7,823 per sq ft a year earlier, which is almost flat. In practical terms, the price gains in the first half came earlier in the year rather than in the July to September quarter.
What the CEO said about demand
Chief Executive Officer Hrishikesh Parandekar said the Vyana launch and steady sales across the ongoing portfolio reflect the brand's appeal. He also said demand had softened in the near term across the broader market, particularly in Pune, while the company continued to report strong business momentum.
Hrishikesh Parandekar was appointed CEO on 19 August 2026.
Mumbai expansion announced in August
The Q2 update came after an August 2026 announcement that the company had added six society redevelopment projects in the Mumbai Metropolitan Region (MMR), with a combined estimated GDV of Rs 6,000 crore. Managing Director Rajesh Patil said the company was entering a new phase of accelerated growth in MMR.
The project-level GDV split announced in August was:
- Santacruz West: Rs 1,930 crore
- Andheri West: Rs 1,420 crore
- Oshiwara: Rs 800 crore
- Versova: Rs 750 crore
- Ghatkopar East: Rs 600 crore
- Vashi: Rs 500 crore
The six projects are expected to launch over the next 6 to 12 months, subject to the requisite approvals. The Mumbai projects were announced before the October update and are not new in that filing.
What this means for buyers
For buyers, the Vyana launch adds 2 and 3 bedroom apartments in Vadgaon, on the Sinhgad Road corridor. The area is about 400 metres from Sinhgad Road. Local reporting says housing demand has been expanding into the Sinhgad Road to Vadgaon belt in 2026, with access to schools, hospitals, retail and civic amenities.
Bookings are not the same as recognised revenue. Revenue and profit depend on collections, construction progress and handovers, and these play out over the life of each project.
What it means for investors and the market
The company's business remains concentrated in Pune. The CEO's comment about near-term softening in Pune is therefore relevant to revenue. Commentary on the filing also points to execution risk in the new Mumbai redevelopment projects as a watch point.
The Q2 sales growth came with flat Q2 realisation. That suggests the price momentum seen in H1 was not repeated in the quarter, which investors may want to track in future updates.
For context, the company reported Q1 FY27 pre-sales of Rs 617 crore and collections of Rs 715 crore for the quarter ended June 2026. In Q2 FY26, sales were Rs 670 crore, down 13% year on year, which makes the current year-on-year comparison look strong.
Company background
Kolte-Patil Developers was incorporated in 1991 and is headquartered in Pune, with operations in Pune, Mumbai and Bengaluru. The company entered the MMR in 2013, focusing on society redevelopment. It is backed by Blackstone. Rajesh Patil is Managing Director.
What comes next
The six Mumbai redevelopment projects are expected to launch over the next 6 to 12 months, subject to approvals.
Frequently asked questions
How much did Kolte-Patil sell in Q2 FY27?
The company reported sales of Rs 1,019 crore in the quarter ended 30 September 2026. That is up 52% from Rs 670 crore in the same quarter last year, according to its exchange filing dated 13 October 2026.
How much of the quarter's sales came from Vyana at The Reserve?
Vyana at The Reserve contributed Rs 616 crore in Q2 FY27. The company launched the project on 10 September 2026, when more than 600 apartments were booked and sales crossed Rs 600 crore within 60 hours.
Did average prices rise in the quarter?
Not by much. Average realisation was about Rs 7,829 per sq ft in Q2 FY27, against Rs 7,823 a year earlier. For the first half of FY27, average realisation was about Rs 8,368 per sq ft, up 10% year on year, which the company linked to price revisions and a higher share of Mumbai projects.
Do bookings count as revenue?
No. Bookings are not recognised as revenue. Revenue and profit depend on collections, construction progress and handovers over the life of each project.
What did the company say about demand in Pune?
CEO Hrishikesh Parandekar said demand had softened in the near term across the broader market, particularly in Pune, while the company continued to report strong business momentum.
When will the six Mumbai projects launch?
The company expects the six projects, with a combined estimated GDV of Rs 6,000 crore, to launch over the next 6 to 12 months, subject to the requisite approvals.