The company reported very positive results for the quarter ending March 2021 with a 55.61% increase in net sales. Key financial metrics like operating profit, PBT and PAT saw strong growth of over 200% each. However, institutional holding in the stock decreased by 4.33% over the previous quarter. While the stock's technical indicators are mildly bullish in the near term, it underperformed the broader market by returning 50.24% over the last year compared to the market return of 62.96%.

1. Report as on 7 June 2021 at 04:06 PM
VERY POSITIVE
RESULTS IN MAR 21
DECREASING
INSTITUTIONAL
HOLDING

Mar 2021 - 296 Cr
Dec 2020 - 190 Cr
Sales

Mar 2021 - 39 Cr
Dec 2020 - 46 Cr
Operating Profit
Kolte Patil
Dev.
CMP: 245.50
STOCK INFO:
BSE – 532924/ NSE – KOLTEPATIL
Market Cap - Small Cap (Rs. 1,866 cr)
Sector – Real Estate
52 w H/L (Rs.) – 285.2/133
Dividend Yield: 0%
Debt Equity: 0.39%
Return on Equity: -0.62%
Price to Book: 1.94
Figures in Rs crore; Basis consolidate data as of Mar 2021
www.marketsmojo.com

2. MOJO PROFESSIONAL 1
Kolte Patil Dev.
CMP: 245.50
Report as on 7 June 2021 at04:06 PM
ANALYSIS
With a growth in Net Sales of 55.61%, the
company declared Very Positive results in Mar 21
-PBT LESS OI(Q) At Rs 22.17 cr has Grown at 263.2 %
-PAT(Q) At Rs 20.86 cr has Grown at 294.7 %
-OPERATING PROFIT TO INTEREST(Q) Highest at 2.73
times
Stock is technically in a Mildly Bullish range
-The technical trend has deteriorated from Bullish on
11-May-21 and has generated 4.51% returns since
then
-Multiple factors for the stock are Bullish like MACD,
Bollinger Band, KST and OBV
Falling Participation by Institutional Investors
-Institutional investors have decreased their stake by
-4.33% over the previous quarter and collectively
hold 9.9% of the company
-These investors have better capability and resources
to analyse fundamentals of companies than most
retail investors
Underperformed the market in the last 1 year
-The stock has generated a return of 50.24% in the
last 1 year, much lower than market (BSE 500)
returns of 62.96%
Past Risk Return Analysis
Absolute Risk
Adjusted
Volatility
Kolte Patil Dev. 50.24% 1.09 46.12%
SENSEX 52.62% 2.97 17.71%
RETURNS SUMMARY (Price + Dividend)
The stock gave a total returns of 50.24% in the last 1 year
Underperforming Sensex returns of 52.62%
Investors Returns (3 years) –
Period 6M 1Y 2Y 3Y
Stock (%) 15.86% 50.24% 10.47% -13.77%
Sector (%) 31.59% 31.59% 29.80% 22.89%
Sensex (%) 15.19% 52.62% 32.09% 47.56%
Kolte Patil Developers Ltd SMLCAP
J
u
n
-
1
8
J
a
n
-
2
1
J
u
l
-
1
8
S
e
p
-
1
8
N
o
v
-
1
8
J
a
n
-
1
9
M
a
r
-
1
9
M
a
y
-
1
9
J
u
l
-
1
9
S
e
p
-
1
9
O
c
t
-
1
9
D
e
c
-
1
9
F
e
b
-
2
0
A
p
r
-
2
0
J
u
n
-
2
0
A
u
g
-
2
0
S
e
p
-
2
0
N
o
v
-
2
0
M
a
r
-
2
1
M
a
y
-
2
1
-100%
-50%
0%
50%
100%

3. BEFORE PROCEEDING AHEAD
This Real-Time Stock Analysis service is only for
Registered members of www.marketsmojo.com
This Real-Time Stock Analysis Report was
generated on 7th June, 2021 at 04:06 PM, and may
not be valid if you are reading it later.
Some factors/ data may have changed after the
report was generated.
To access the LATEST version of this report.
Click Here
MOJO PROFESSIONAL 2
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM

4. WITH A GROWTH IN NET SALES OF 55.61%,
THE COMPANY DECLARED VERY POSITIVE
RESULTS IN MAR 21
Rs 296.1
cr
Net Sales -
Quarterly
Near term sales trend is positive
Net Sales (Rs Cr)
Highest at Rs 296.08 cr
in the last five quarters
263.2%
PBT Growth
Near term PBT trend is very
positive
PBT less Other Income (Rs Cr)
At Rs 22.17 cr has Grown at 263.2 %
over average PBT of the previous four quarters of Rs -
13.59 Cr
294.7%
PAT Growth
Near term PAT trend is very
positive
PAT (Rs Cr)
At Rs 20.86 cr has Grown at 294.7 %
over average PAT of the previous four quarters of Rs -
10.71 Cr
MOJO PROFESSIONAL 3
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
FINANCIAL TREND
221.74
221.74
140.81
140.81
64.58
64.58
190.27
190.27
296.08
296.08
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
-12.29
-12.29
-34.71
-34.71 -32.02
-32.02
24.68
24.68 22.17
22.17
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
-16.47
-16.47
-26.98
-26.98
-21.87
-21.87
22.47
22.47 20.86
20.86
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021

5. 2.7 times
Interest
Coverage Ratio -
Quarterly
The company's ability to manage
interest payments is improving
Operating Profit to Interest
Highest at 2.73 times
in the last five quarters
Rs 163.9
cr
Cash and Eqv -
Half Yearly
Short Term liquidity is improving
Cash and Cash Equivalents
Highest at Rs 163.91 cr
in the last six half yearly periods
20.9
times
Debtors Turnover
Ratio- Half
Yearly
Company has been able to settle
its Debtors faster
Debtors Turnover Ratio
Highest at 20.93 times
in the last five half yearly periods
Key
Result
Highlights
Consolidate- figures in Rs
Cr
Mar'21 Dec'20 Change%
Net Sales 296.1 190.3 55.6%
Operating Profit (PBDIT) excl Other Income 38.9 45.5 -14.5%
Interest 14.3 18.3 -22.0%
Exceptional Items 0.0 0.0
Consolidated Net Profit 20.9 22.5 -7.2%
Operating Profit Margin (Excl OI) 13.2 23.9 -10.8%
MOJO PROFESSIONAL 4
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
FINANCIAL TREND
0.29
0.29
-0.67
-0.67 -0.5
-0.5
2.49
2.49
2.73
2.73
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
77.06
77.06
63.82
63.82
107.71
107.71
97.28
97.28 96.17
96.17
163.91
163.91
S
e
p
2
0
…
M
a
r
2
0
1
9
S
e
p
2
0
1
9
M
a
r
2
0
2
0
S
e
p
2
0
2
0
M
a
r
2
0
2
1
8.06
8.06 8.14
8.14
18.37
18.37
10.81
10.81
20.93
20.93
Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021

6. STOCK IS TECHNICALLY IN A MILDLY
BULLISH RANGE
Current Price
245.50
50 Day Moving Average
228.22
200 Day Moving Average
212.44
Mildly Bullish Daily Moving Averages indicating near term price strength
Factors with upward momentum
Indicator Technical Trend
MACD Bullish (monthly)
Bollinger Band Bullish (monthly)
KST Bullish (monthly)
Dow Theory Mildly Bullish (weekly)
OBV Bullish (weekly)
Underperformed the market in the last 1 year
MOJO PROFESSIONAL 5
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
TECHNICALS
3 Months
1.32%
1.32%
7.57%
7.57%
Stock BSE 500
1 Year
50.24%
50.24%
62.96%
62.96%
Stock BSE 500
3 Years
-15.29%
-15.29%
45.57%
45.57%
Stock BSE 500

7. INSTITUTIONAL INVESTORS REDUCE STAKE
BY -4.33 %
Institutional investors have decreased their stake by -
4.33% over the previous quarter and collectively hold
9.9% of the company
These investors have better capability and resources
to analyse fundamentals of companies than most
retail investors
FallingFIIs Confidence
FIIs have decreased holdings this quarter and now hold 9.85% of the
company
FIIholding has decreased by -
4.37%
Number of FIIs holding stake in the company has
remained stable at 12
MOJO PROFESSIONAL 6
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
SHAREHOLDING
14.51%
14.51% 14.61%
14.61% 14.66%
14.66% 14.18%
14.18% 14.23%
14.23%
9.90%
9.90%
Dec 19 Mar 20 Jun 20 Sep 20 Dec 20 Mar 21
0%
5%
10%
15%
20%
Promoters
74.45%
Promoters
74.45%
Mutual Funds
0.05%
Mutual Funds
0.05%
FIIs
9.85%
FIIs
9.85%
Non Instit…
15.65%
Non Instit…
15.65%
14.47%
14.47% 14.53%
14.53% 14.18%
14.18% 14.22%
14.22%
9.85%
9.85%
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
0%
5%
10%
15%
20%

8. UNDERPERFORMED THE MARKET IN THE
LAST 1 YEAR
50.24%
UP
The stock has generated
a return of 50.24% in the
last 1 year, much lower
than market (BSE 500)
returns of 62.96%
Inconsistent Performanceagainst Small Cap
companies
4th
Quartile
YTD
-6.63%
3rd
Quartile
2020
-2.06%
1st
Quartile
2019
4.13%
Kolte Patil Developers Ltd has not been a
consistent performer in the last 1 year
Stock has been in the 3rd quartile in 2020
and in 4th in YTD period
Return
Comparison
with Peers
Closest peers by
market cap
Company 1 Month 3 Month 1 Year 3 Years
Kolte Patil Dev. 3.52% 1.32% 50.24% -15.29%
DLF 15.86% -5.96% 90.11% 47.22%
Godrej Propert. 12.36% -6.47% 73.49% 78.19%
Macrotech Devel. 6.57% - - -
Oberoi Realty 18.52% 18.82% 73.59% 25.78%
MOJO PROFESSIONAL 7
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
RETURNS
Kolte Patil Developers Ltd BSE500
J
u
n
-
1
8
J
a
n
-
2
1
J
u
l
-
1
8
S
e
p
-
1
8
N
o
v
-
1
8
J
a
n
-
1
9
M
a
r
-
1
9
M
a
y
-
1
9
J
u
l
-
1
9
S
e
p
-
1
9
O
c
t
-
1
9
D
e
c
-
1
9
F
e
b
-
2
0
A
p
r
-
2
0
J
u
n
-
2
0
A
u
g
-
2
0
S
e
p
-
2
0
N
o
v
-
2
0
M
a
r
-
2
1
M
a
y
-
2
1
-100%
-50%
0%
50%
100%

9. QUARTER RESULTS VARIANCE ANALYSIS
Consolidate results triggered in Rs Cr
Mar'21 Dec'20 QoQ Mar'20 YoY Comments
Total Operating income 296 190 55.6% 222 33.5% High Growth in previous quarter
and same quarter last year
Total Expenditure (Excl Depreciation) 257 145 77.7% 218 18% High Growth in previous quarter
and same quarter last year
Operating Profit (PBDIT) excl Other Income 39 46 -14.5% 4 916.2%
Other Income 6 4 43.5% 9 -30.9%
Operating Profit (PBDIT) 45 50 -9.4% 13 249.5%
Interest 14 18 -22% 13 7.9%
Exceptional Items 0 0 0% 0 0%
Depreciation 2 3 -3.1% 3 -14.2% QoQ and YoY decrease
Profit Before Tax 28 29 -2.1% -3 -995.3% QoQ and YoY decrease
Tax 7 4 65.9% -1 -767%
Provisions and contingencies 0 0 0% 0 0%
Net Profit 22 25 -13% -2 -1% QoQ and YoY decrease
Share in Profit of Associates -1 -0 1% 0 0%
Minority Interest 0 3 -98.4% 14 -99.7% Fall in previous quarter and same
quarter last year
Other related items 0 0 0% 0 0%
Consolidated Net Profit 21 22 -7.2% -16 -226.7% Fall in previous quarter and same
quarter last year
Margins
Mar'21 Dec'20 Sep'20 Jun'20 Mar'20 Avg. (4
Qtrs)
Comments
OPM 13.2% 23.9% -14.7% -8.9% 1.7% 0.5% Higher than average (4 Qtrs) – Promising
GPM 10.5% 16.6% -39.7% -20.0% -0.1% -10.8% Higher than average (4 Qtrs) – Promising
NPM 7.4% 13.2% -35.6% -19.7% -1.0% -10.8% Higher than average (4 Qtrs) – Promising
MOJO PROFESSIONAL 8
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
QUARTERLY VARIANCE

10. NET SALES - YOY GROWTH IN YEAR ENDED
MAR 2021 IS -38.76% VS 30.45% IN MAR 2020
Consolidated Net Profit: YoY Growth in year ended Mar 2021 is -107.62% vs -3.98% in Mar
2020
Operating Profit (PBDIT) excl Other Income: YoY Growth in year ended Mar 2021 is -
73.29% vs -5.46% in Mar 2020
Interest: YoY Growth in year ended Mar 2021 is -11.75% vs -13.40% in Mar 2020
Operating Profit Margin (Excl OI): YoY Growth in year ended Mar 2021 has fallen from Mar
2020
-38.76%
NET SALES
Key
Annual
Results
Figures in Rs Cr | Seasonal companies are compared with the same quarter last year
Mar'21 Mar'20 Change(%)
Net Sales 691.74 1,129.50 -38.76%
Operating Profit (PBDIT) excl Other Income 62.39 233.59 -73.29%
Interest 70.30 79.66 -11.75%
Exceptional Items 0.00 0.00
Consolidated Net Profit -5.52 72.40 -107.62%
Operating Profit Margin (Excl OI) 9.02 20.68 -11.66%
Net Sales-YoY Growth in year ended Mar 2021 is -38.76% vs
30.45% in Mar 2020
Consolidated Net Profit-YoY Growth in year ended Mar 2021
is -107.62% vs -3.98% in Mar 2020
Operating Profit (PBDIT) excl Other Income-YoY Growth in
year ended Mar 2021 is -73.29% vs -5.46% in Mar 2020
Operating Profit Margin (Excl OI)-YoY Growth in year ended
Mar 2021 has fallen from Mar 2020
Figures in Rs Crore
MOJO PROFESSIONAL 9
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
ANNUAL RESULT
963.82
963.82
1,402.72
1,402.72
865.87
865.87
1,129.50
1,129.50
691.74
691.74
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0
1000
2000
87.18
87.18
121.48
121.48
75.40
75.40 72.40
72.40
-5.52
-5.52
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-100
0
100
200
238.07
238.07
302.55
302.55
247.09
247.09 233.59
233.59
62.39
62.39
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0
250
500
24.70
24.70
21.57
21.57
28.54
28.54
20.68
20.68
9.02
9.02
Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0
20
40

11. BALANCE SHEET AND CASH FLOW ANALYSIS
-10.31%
Increase
in Borrowings in quarter
ended Mar 2020 vs in
Mar 2019 Figures in Rs Cr
Mar'20 Mar'19 Change%
Borrowings 938.58 1,046.42 -10.31%
Other Long Term Liabilities 31.28 18.70 67.27%
Fixed Assets 258.89 85.16 204.00%
Investments 19.26 19.73 -2.38%
Current Assets 3,011.50 3,084.80 -2.38%
Other Long Term Liabilities: YoY Growth in year ended Mar 2020 is 67.27% vs -11.63% in Mar 2019
Fixed Assets: YoY Growth in year ended Mar 2020 is 204.00% vs -12.51% in Mar 2019
Investments: YoY Growth in year ended Mar 2020 is -2.38% vs -2.33% in Mar 2019
Current Assets: YoY Growth in year ended Mar 2020 is -2.38% vs 36.63% in Mar 2019
391.26%
GROWTH
Figures in Rs Cr
Cash From Operation - YoY Growth in year ended Mar
2020 is 391.26% vs -70.66% in Mar 2019
Mar'20 Mar'19 Change%
Cash Flow from Operating Activities 331.21 67.42 391.26%
MOJO PROFESSIONAL 10
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
BALANCESHEET AND CASHFLOW
36.43
36.43
142.63
142.63
229.75
229.75
67.42
67.42
331.21
331.21
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
0
100
200
300
400

12. PEER COMPARISON
Kolte Patil Dev. Anant Raj JMC Projects Welspun Enterp Wardwizard
Inno.
Size
Market Cap (Cr.) 1,878 1,930 1,899 1,801 1,563
Annual Sales (TTM) (Cr.) 692 184 3,844 1,431 39
Annual Net Profit (TTM) (Cr.) -6 12 -26 179 2
Growth Factors (TTM)
Net Sales Growth 1 year -38.8% -65.8% -0.7% -30.6% 39.2%
Operating Profit Growth 1 year -76.7% -89.2% -11.8% -28.5% 341%
Net Profit Growth 1 year -107.6% -89.3% -10% 99.3% 278%
Net Sales Growth 5 year -1.7% -16.7% 9% 19.3% 535%
Operating Profit Growth 5 year -22.8% -33.3% 3.2% 143.4% 92.9%
Net Profit Growth 5 year -162.3% -29.4% 10.4% 43.6% 74.1%
Capital Structure Factors
EBIT to Interest 0.7 0.5 1 1.5 -
Debt to EBITDA 8.2 66.3 3.3 8.9 -0.1
Net Debt to Equity 0.4 0.6 0.8 0.8 -0.1
Sales to Capital Employed 0.6 0.1 2.3 0.5 -
Management Quality Factors
ROCE (latest) 4.1% 0.1% 15.5% 5.6% 9.5%
ROE(latest) -0.6% 1.3% -5.3% 10.4% -
Tax Ratio 21.5% 88.2% 14.4% 14.6% -
Operating CF to Net Profit 457.5% -106.8% 39899.2% -38.4% -
Dividend Payout Ratio - 15.3% 14.9% 19.9% -
Valuation Factors
PE Ratio -314.6 158.5 -71.9 10 841.9
Price to Book 1.9 0.8 3.8 1.1 56
PEG Ratio - - - 0.1 5.2
Dividend Yield - 0.1% 0.6% 1.7% -
EV to EBITDA 33.4 110.3 7 18.2 510.4
EV to Capital Employed 1.7 0.9 1.8 1.1 60.9
Shareholding
Promoter Holdings 74.4% 65% 67.8% 50.2% 66.9%
Promoter Pledged Holdings - - - - -
Total Institutional Holding 9.9% 8.4% 16.7% 5.9% -
FII Holdings 9.9% 8.4% 0.2% 2.1% -
Returns
1 Month 3.5% 25.9% 20.1% 18.6% -4.8%
3 Months 1.3% 9.4% 43.3% 2.4% -12.3%
YTD 0.5% 141% 65% 41.2% 49.8%
1 Year 50.2% 262.2% 148.2% 74.5% 857.3%
3 Years -15.3% 47% -7.1% -35.6% -
MOJO PROFESSIONAL 11
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
PEER COMPARISION

13. COMPANY BACKGROUND
INDUSTRY : Real Estate
1,866 cr (Small Cap)
Part of NIFTY 500
About the Company
Kolte Patil Developers Ltd has emerged as Pune’s leading Real Estate Developer.
They are engaged in delivering world class residential and commercial complexes
that offer unmatched value for money and market appreciation.
Rajesh Patil
Naresh Patil
Milind Kolte
Sunita Kolte
Jayant Pendse
Chairman & Managing Director
Vice Chairman
Executive Director
Non Executive Director
Independent Director
Board of Directors
6 more board of directors
Company Coordinates
Company Details:
2nd Floor City Point, Dhole Patil Road Pune Maharashtra :
411001
Tel: 020-6622 6500
Fax: 020-6622 6511
Email: investorrelation@koltepatil.com
Website: www.koltepatil.com
Registrat Details:
Bigshare Services Pvt Ltd , E-2 , Ansa Industrial Estate, Saki
Vihar Road, Saki Naka, Andheri (E), Mumbai
Fax: 91-022-28475207
MOJO PROFESSIONAL 12
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
COMPANY BACKGROUND

14. DISCLAIMERS
Mojo Markets Private Limited (“the Company”), which owns marketsmojo.com (“the website”) is engaged in the
business of operating the website.
This research report (“Report”) is for the personal information of the authorized recipients and is not for public
distribution and should not be reproduced or redistributed to any other person or in any form without the Company’s
prior permission. The information provided in the Report is from publicly available data, which we believe, are reliable.
While reasonable endeavors have been made to present reliable data in the Report so far as it relates to both current
as well as historical information, the Company does not guarantee the accuracy or completeness of the data in the
Report. Accordingly, neither the Company nor its shareholders, directors, officers, employees, advertisers, content
providers and licensors are responsible either jointly or severally for any loss or damage that may arise to any person
from any inadvertent error in the information contained, views and opinions expressed in the research reports.
Investment in securities is subject to market risks. Past performance should not be construed as a guarantee for future
returns and no representation or warranty, express or implied, is made regarding future performance. Investments in
equity and equity related securities involve a high degree of risks and the users should be clearly aware that prices of
securities as well as the income derived from these securities can fall as well as rise.
The Report also includes the analysis and views of our research team. The Report is purely for information purposes
and should not be construed as an investment recommendation or advice or an offer or solicitation of an offer to buy
or sell any securities.
The opinions expressed in the Report are those as on the date of the Report and are liable to change from time to time
without notice. The Company or any persons connected with it do not accept any liability arising from the use of this
Report.
Investors should not solely rely on the information contained in this Report and must make investment decisions
based on their own investment objectives, judgment, risk profile and financial position. The recipients of this Report
should take professional advice before acting on this information.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of
or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use
would be contrary to local law, regulation or which would subject the Company and its affiliates to any registration or
licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all
jurisdictions or to all category of investors.
The Company is also a SEBI registered Investment Advisor (“IA”). The Company and its associates do not own any
securities of the subject company/ies mentioned in the report as on the date of this research report.
The Research team engaged in the preparation of this Report and/or their relatives collectively did not own more than
1% of the equity in the subject company/ies mentioned in this Report (unless otherwise mentioned in such Report) nor
did they have any other material conflict of interest on the date of this Report.
None of the members of the research team engaged in preparation of this Report (unless otherwise mentioned in such
Report) have served as an officer, director or employee of the subject company in the past twelve months.
No disciplinary action has been taken on the Company by any regulatory authority which can impact the Equity
Research Analysis.
We hereby expressly disclaim any implied warranties imputed by the laws of any jurisdiction other than Mumbai. We
consider ourselves and intend to be subject to the jurisdiction only of the courts of the Mumbai in India and we shall
be governed only by the laws as applicable in India. Even though the site has global access, we are not governed by any
laws of any jurisdiction other than India.
MOJO PROFESSIONAL 13
Kolte Patil Dev. Report as on 7 June 2021 at 04:06 PM
DISCLAIMER