Kolte Patil Developers is currently trading at Rs. 181.80, up by 3.95 points or 2.22% from its previous closing of Rs. 177.85 on the BSE.
The scrip opened at Rs. 179.85 and has touched a high and low of Rs. 184.80 and Rs. 178.45 respectively. So far 18926 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 204.00 on 26-Apr-2017 and a 52 week low of Rs. 78.75 on 27-Dec-2016.
Last one week high and low of the scrip stood at Rs. 185.00 and Rs. 161.10 respectively. The current market cap of the company is Rs. 1384.41 crore.
The promoters holding in the company stood at 74.54%, while Institutions and Non-Institutions held 10.41% and 15.05% respectively.
Kolte Patil Developers is planning to enter into affordable housing project and increase its presence in real estate market of Mumbai and Bengaluru. The company is present in Pune, Mumbai and Bengaluru and would be planning to expand its business in these cities only in the next 2-3 years, rather than entering any new city.
Currently, 90 per cent of the company’s business comes from projects in Pune and the rest is contributed by Mumbai and Bengaluru. By the end of this financial year, it is expecting the contribution from Mumbai and Bengaluru to grow up to 25 per cent and by the year 2020 it is likely to touch about 35 per cent.
Kolte-Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.
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