Kolte Patil Developers has received the Monitoring Agency Report from CARE Ratings Limited for the quarter ended March 31, 2026, pertaining to the utilisation of proceeds from its preferential issue of equity shares aggregating to Rs. 417.03 crore. The report, submitted on May 08, 2026, confirms that funds utilised during the quarter were in accordance with the disclosures made in the offer document, with no deviations reported.

Issue Overview

The preferential issue, which closed on June 23, 2025, was structured to fund three specific objects under the placement document. The issue size stood at Rs. 417.03 crore, with all three objects carrying a completion date of December 23, 2026, and currently classified as ongoing.

Utilisation of Proceeds — Q4FY26

As at the end of Q4FY26, a cumulative total of Rs. 104.59 crore has been utilised across the three stated objects, leaving Rs. 312.44 crore unutilised. During the quarter, Rs. 40.11 crore was deployed. The following table presents a detailed breakdown of progress against each object:

Under General Corporate Purposes, Rs. 24.93 crore was utilised during Q4FY26 towards payment of advance tax. For the FSI-related object, Rs. 15.18 crore was deployed towards acquiring Transferable Development Rights (TDR) and related Tax Deducted at Source (TDS) payments. No utilisation was recorded under the real estate development object during the quarter.

Deployment of Unutilised Proceeds

The unutilised amount of Rs. 312.44 crore has been deployed in low-risk instruments, comprising debt mutual funds and balances held in Axis Bank monitoring accounts, consistent with the company's stated policy of investing pending utilisation only in low-risk instruments such as debt mutual funds or term deposits with scheduled commercial banks.

Compliance and Verification

The Monitoring Agency confirmed that all utilisation details were verified through CA certificates issued by M/s. S P C M & Associates (Peer Reviewed Chartered Accountant Firm) vide certificate dated April 28, 2026, along with management certificates, bank statements, mutual fund statements, TDR agreements, and tax challans. The report notes no major deviation over previous monitoring agency reports, and no changes to the means of finance for the disclosed objects were observed.

The report was signed by Amit Chanchalani, Associate Director at CARE Ratings Limited, and submitted to the Board of Directors of Kolte Patil Developers. The filing to stock exchanges was made by Vinod Patil, Company Secretary and Compliance Officer, on May 08, 2026, pursuant to Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2018, and Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kolte Patil Developers Limited, a leading Pune-based real estate developer with operations in Mumbai and Bengaluru, has announced its operational performance for the quarter and full year ended March 31, 2026. The company reported strong quarterly sales growth and achieved record collection milestones during the period.

Financial Performance Overview

The company's Q4 FY26 performance showed robust growth across key metrics, with sales reaching Rs. 714.00 crore, representing an 18% quarter-on-quarter increase and 13% year-on-year growth. This performance was driven by strong response to new launches and sustained sales across the portfolio.

Annual Performance Highlights

For the full year FY26, Kolte-Patil Developers achieved annual sales of Rs. 2,605.00 crore and record annual collections of Rs. 2,689.00 crore, marking an 11% increase from the previous year. The company maintained a strong collection growth trajectory with a robust 5-year CAGR of 19%.

Project Development and Launches

The company maintained an active development pipeline during FY26, launching approximately 4.60 million sq. ft. of new projects during the year, with around 1.00 million sq. ft. launched in Q4 FY26 alone. The flagship Life Republic integrated township project continued to be a significant contributor, generating 0.37 million sq. ft. of sales in Q4 FY26 and 1.78 million sq. ft. for the full year.

Business Expansion and Strategic Developments

During FY26, the company expanded its project portfolio by acquiring developments in Bhugaon with an aggregate gross development value of approximately Rs. 2,250.00 crore, covering around 3.00 million sq. ft. This micro-market is positioned as an emerging residential hub supported by infrastructure improvements and connectivity enhancements.

In a significant strategic development, funds affiliated with Blackstone acquired a 40% stake in the company during the year. The partnership also included key additions to the leadership team to drive future performance.

Management Commentary

Managing Director Rajesh Patil highlighted FY26 as a defining year with Blackstone's onboarding as a strategic partner. He noted the steady demand across key micro-markets and emphasized the company's focus on improving efficiencies and governance. The management expressed confidence in the company's positioning for consistent growth, supported by a strong launch pipeline, enhanced execution capabilities, and emphasis on delivery and capital discipline.