ffi:,

To, The Assistant Manager, National Stock Exchange of India Limited Listing Department,'Exchange Plaza', Bandra Kurla Complex, Bandra (East), Mumbai - 400051

To, The General Manager, BSE Limited, Corporate Relationship Department, 1st Floor, Phiroze Jeejeebhoy Towers, DalalStreet, Mumbai- 400001

10 November 2022

Subject: - Submission of the Outcome of the Board Meeting held on 10 November 2022

Ref. - NSE: Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code: 9624 and 532924 Our earlier intimation dated 04 November 2022

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read together with Para A of Part A of Schedule lll of the Regulations, we wish to inform you that the Board of Directors of Kolte-Patil Developers Limited ("Company") at their meeting held on Thursday, 10 November 2022, approved the following:

1. The unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended 30 September 2022;
1. In principal approval for the Scheme of Amalgamation involving Amalgamation of Sampada Realities Private Limited, a Wholly Owned Subsidiary Company of the Company ('Transferor Company') with Kolte-Patil Developers Limited ("Transferee Company") (hereinafter referred as "Scheme') as per Section 233 of the Companies Act, 2013 read with Rule 25 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 201 6.

The Scheme is conditional upon and subject to necessary statutory and regulatory approvals and approval of the Members and Creditors.

The required details in terms of the above regulations read with Circular no. CIR/CFD!CMD1412O1i dated September 9,2015 issued by the Securities and Exchange Board of India are enclosed as Annexure 1.

Page 1 of5

KOTTE.PATI L DEVEIOPERS LTD.

Clf{ : !45200P111991 PLC1 29428

Pune Regd Ofi : 2nd Floor, City Point, Dholc Patil Road, Pune . 4ll 001. Mahanshtn, India Tel.: +91 20 6622 GS00 Fax : 491 ZO 6622 ⁶⁵¹¹ Bangaforcoff:l2l,TheEstateBuilding,lfthfloor,DickensonRoad,Eangalore-560042.lndiaTel.: 80.46521!g4t22243135t22242803 Web:www,koltepatil.com

lssue of secured, rated, listed, redeemable Non- Convertible Debentures ("Debentures") of face value Rs.10,00,000/- each, on a private placement basis, aggregating upto Rs. 206,50,OO,OOO/- (Rupees Two Hundred Six Crores Fifty Lakhs Only).

Further, in this regard, the board of directors of the Company has formed a Debenture Allotment Committee ("Committee") to decide the terms of the Debentures and delegated necessary powers ,. to the said Committee. \ \ A.-J \

The Meeting of Board of Directors was commenced at 11.30 AM and concluded at O 3 ',00 Pm " ' -

We request you to take the above information on record and the same be treated as compliance under the applicable provision(s) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This is for your information and record.

For Kolte-Patil Devplopers Limited

Vinod Patil Company Secretary and Compliance Officer Membership No. A13258

Encl:As above

Page 2 of 5

ilfiEr*iis.ri4,r KOTTE-PATIL DEVELOPERS LTD.

CIN : 145200PN1 991 PLCl 29428

Pune Regd. office.: 2nd Flooa City Point, Dhole Patil Road, Pune 411001. Maharashtra, tndia. Tel.: +g1 20 6622 6sO0 Fax : *91 20 6622 6s11 Bangaloreoffice:l2l,TheEstateBuilding, lOthfloor,DickensonRoad,Bangalore 560042. India.Tel.:ogo-46624444/22243135/22242g03 Web : www.koltepatil.com

ffi

Annexure A

Sr. No.	Details	Particulars
1.	Name of the entity(ies) forming part of the amalgamation/merger, details in brief such as, size, turnover etc	The scheme of amalgamation (hereinafter referred as "Scheme') provides for the merger of Sampada Realities Private Limited ("Transferor Company') with and into Kolte-Patil Developers Limited ("Transferee Company').
		Kolte-Patil Developers Limited is a listed company whose securities are listed n National Stock Exchange of India and BSE Limited.
		The revenues of, Kolte-Patil Developers Limited, the Transferee Company, on standalone basis, for the year ended 31 March 2022 are Rs. 37,760 Lakhs.
		Sampada Realities Private Limited, the Transferor Company is a wholly-owned subsidiary of the Transferee Company. The revenue of the Transferor Company as per the latest audited financials available for the year ended 31 March 2022is Rs.4.988.87 Lakhs.
2.	Whether the transaction would fall within related party transactions? lf yes, whether the same is done at "arms length"	The Transferor Company is a wholly-owned subsidiary of the Transferee Company, and are therefore the related party of the Transferee Company.
		However, the Scheme does not fall within the purview of related party transaction pursuant to the provisions of circular no. 30/2014 dated July 17, 2014 issued by the Ministry of Corporate Affairs. Also, pursuant to Regulation 23(5Xb) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the related party provisions are not applicable for the Scheme.

Page 3 of 5

KO LTE. PATI L DEVELOPERS LTD.

CIN : L452OOPN'1991 PLCl 29428

Pune Regd. Office.: 2nd Floor, City Point, Dhole Patil Road, Pune 411001. Maharashtra, India. Tel.: *91 20 6622 6500 Fax : *91 20 6622 6511 BangaloreOffice:l2l,TheEstateBuilding, lOthfloor,DickensonRoad,Bangalore 560042. lndia.Tel.:080-46624444/22243135/22242803 Web : www.koltepatil.com

3.	Area of business of the entity(ies);	The Transferor Company and the Transferee Company are in the business of construction and development of real estate projects.
4.	Rationale for amalgamation/ merger	The main objective of Transferor Company is similar to one of the main objectives of Transferee Company and they form part of the same Management. Thus, with a view to achieve the main objective of consolidation of business carried on by the Transferor Company and in order to maintain a simple corporate structure and eliminate duplicate corporate procedures, it is desirable to merge Transferor Company into the Transferee Company. The proposed merger of Transferor Company into the Transferee Company shall enable effective management and unified control of operations. Further, the merger would create economies in administrative and managerial cost by consolidating operations and would substantially reduce duplication of administrative responsibilities and multiplicig of records and legal and regulatory compliances, Further, there is no likelihood that any of the creditor of the Transferor Company or the Transferee Company will be prejudiced as a result of the Scheme. The Scheme will neither impose any additional burden on the shareholders of the Transferor Company, nor will it adversely affect the interest of any of the shareholders or creditors of the Transferor Company and Transferee Company. Further, the Scheme is only for merger of the Transferor Company with the Transferee Company and is not an arrangement with the creditors of any of the entities involved.

Page 4 of 5

KOLTE. PATI L DEVELOPE RS LTD.

CIN : 14520OPN1991 PLCl 29428

Pune Regd. Office.: 2nd Floor, City Point, Dhole Patil Road, Pune 411001. Maharashtra, India. Tel.: *91 20 6622 6500 Fax : +91 20 6622 ⁶⁵¹¹ Bangafore office : 1 2l , The Estate Building, lOth floor, Dickenson Road, Bangalore 560042. India. Tel.: ogo - 4662 4444 / 2224 3135 / 2224 2803 Web : wwwkoltepatil.com

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5.	ln case of cash consideration - amount or otherwise share exchange ratio	Since the Transferor Company is a wholly-owned subsidiary of the Transferee Company, consequently, pursuant to the Scheme becoming effective, all shares held by the Transferee Company in the Transferor Company shall stand cancelled and no new shares shall be issued by the Transferee Company to the shareholders cf the Transferor ComPanY.
		Also, no other consideration shall pass from the Transferee Company to the Transferor Company.
6	Brief details of change in shareholding pattern (if any)of listed entity.	Since there will be no issue of shares, there will be no change in the shareholding pattern of the Transferee Company pursuant to the Scheme.

Page 5 of 5

KOLTE. PATI L DEVELOPERS LTD.

CIN : 1452O0PN1991 PLCl 29428

pune Regd. offrce.: 2nd Floor, CiU point, Dhole Patil Road, Pune 41 1001. Maharashtra, India. Tel.: +91 20 6622 6500 Fax : *91 20 6622 6s11 Bangaloreoffice:l2t,TheEstateBuilding, lothfloor,DickensonRoad,Bangalore 560042. India.Tel':080-4662&44/22243135/22242803 Web : www.koltePatil.com

Page 1 of 12

KOLTE-PATIL DEVELOPERS LIMITED

Corporate Identification Number: L45200PN1991PLC129428 Registered Office: 2nd Floor, City Point, Dhole Patil Road, Pune- 411001

Tel. No. +91 20 66226500 Fax No. + 91 20 66226511. Website: www.koltepatil.com. Email: [email protected]

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2022

			Quarter Ended			Six Months Ended
Sr. No.	Particulars	September 30, 2022	June 30, 2022	September 30, 2021	September 30, 2022	September 30, 2021	March 31, 2022
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from operations	4,038	11,367	6,790	15,405	17,344	37,760
$\overline{2}$	Other Income	518	478	477	996	831	2,034
3	Total Income (1+2)	4,556	11,845	7.267	16,401	18,175	39,794
4	Expenses (a) Cost of services, construction and land (b) Employee benefits expense (c) Finance costs** (d) Depreciation and amortisation expenses	2,339 1,563 974 248	5,666 1,636 982 206	4,410 1,236 1,180 176	8,005 3,199 1,956 454	10,727 2,154 2,784 357	27,230 5,374 4,806 763
	(e) Other expenses	1,458	1,298	998	2,756	1,986	6,774
	Total expenses (a to e)	6,582	9,788	8,000	16,370	18,008	44,947
5	Profit/(Loss) before exceptional item and tax for the period/year (3-4)	(2,026)	2,057	(733)	31	167	(5, 153)
6	Tax expense/(credit) -Current Tax# -Deferred Tax Total tax expenses/(credit) for the period/year	۰ (664) (664)	u 162 162	1,098 (216) 882	Cal (502) (502)	1,426 88 1,514	1,232 (1,032) 200
$\overline{\phantom{a}}$	Profit/(Loss) for the period/year (5-6)	(1, 362)	1,895	(1,615)	533	(1, 347)	(5, 353)
8	Exceptional Items	÷.	S.	$\sim$	i.	$\sim$	(335)
9	Other comprehensive income (Net of tax) -Items that will not be reclassified to profit & loss	۷	×		$\sim$		34
10	Total comprehensive income/(Loss) for the period/year (7+8+9)	(1, 362)	1,895	(1,615)	533	(1, 347)	(5, 654)
11	Paid - up equity share capital (Face Value of Rs. 10/- each)	7,600	7,600	7,600	7,600	7,600	7,600
12	Other equity excluding revaluation reserves as per balance sheet		$\bar{\phantom{a}}$	٠	71,899	77,190	72,886
13	Earnings Per Share (EPS) (Face value of Rs. 10/- each)* Basic (Rs.) Diluted (Rs.)	(1.79) (1.79)	2.49 2.49	(2.12) (2.12)	0.70 0.70	(1.77) (1.77)	(7.48) (7.48)

* Basic and Diluted EPS for all periods, except year ended March 31, 2022, are not annualised.

** Includes Rs. 16 Lakhs for quarter ended September 30, 2021, Rs. 389 Lakhs for six month ended September 30, 2021 and Rs. 389 Lakhs for year ended March 31, 2022, towards interest on Income tax pertaining to prior years.

Includes Rs. 904 Lakhs for quarter ended September 30, 2021, Rs. 1232 Lakhs for six month ended September 30, 2021 and Rs. 1,232 Lakhs for year ended March 31, 2022, towards income tax pertaining to prior years.

$olte-Pa$ O_levelo ¥ $\partial y_{l}$ וני

$page 2 of 12$

Standalone Notes :

$\overline{\mathbf{2}}$

$\frac{1}{2}$

The above financial results of Kolte-Patil Developers Limited ("The Company") were reviewed and recommended by the Audit
Committee and taken on record by the Board of Directors at their meeting held on November 10, 2022.

Standalone Balance Sheet as at		(Rs. In Lakhs
Particulars	As at September 30, 2022	As at March 31, 2022
	(Unaudited)	(Audited)
ASSETS
1. Non-current assets
(a) Property, Plant and Equipment	1,954	1,211
(b) Right of use assets (c) Intangible Assets	1,960	1,684
(d) Financial Assets	79	55
(i) Investments
(ii) Trade Receivables	48,151	40,666
(iii) Loans	827	1,184
(iv) Other Financial Assets	2,034	1,235
(e) Deferred Tax Assets (Net)	17,448	14,378
(f) Income Tax Assets (Net)	9,275	8,773
(g) Other Non Current Assets	3,161	2,595
Total Non - Current Assets	5,288 90,177	3,960
2. Current assets		75,741
(a) Inventories	1,58,291	1,44,725
(b) Financial Assets
(i) Investments	237	1,430
(ii) Trade Receivables	667	720
(iii) Cash and Cash Equivalents	6,130	10,366
(iv) Other Balances with Banks	4,321	5,428
(v) Loans	3,555	952
(vi) Other Financial Assets	1,860	1,433
(c) Other Current Assets	9,223	6,449
Total Current Assets	1,84,284	1,71,503
Total Assets (1+2)	2,74,461	2,47,244
EQUITY AND LIABILITIES
1. EQUITY (a) Equity Share Capital
(b) Other Equity	7,600 71,899	7,600
Total Equity	79,499	72,886
LIABILITIES		80,486
2. Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	25,806	15,863
(ii) Lease Liabilities	1,603	1,352
(iii) Other Financial Liabilities	350
(b) Provisions	439	404
Total Non - Current Liabilities	28,198	17,619
3. Current liabilities
(a) Financial Liabilities
(i) Borrowings (ii) Lease Liabilities	27,870	34,553
(iii) Trade Payables	607	543
A. Dues of micro and small enterprises
B. Dues of other than micro and small enterprises	912 11,444	1.044
(iv) Other Financial Liabilities		12,064
(b) Provisions	4,662 936	2,942
(c) Other Current Liabilities	1,20,333	899 97,094
Total Current Liabilities	1,66,764	1,49,139

Total Equity and Liabilities (1+2+3)	2,74,461	2,47,244

Page 3 of 12

3	Standalone Statement of Cashflows			(Rs. In Lakhs)
	Particulars	For the Half year ended September 30, 2022	For the Half year ended September 30, 2021	Year Ended March 31, 2022
		(Unaudited)	(Unaudited)	(Audited)
А	CASH FLOW FROM OPERATING ACTIVITIES
	Net Loss before tax and after exceptional item:	31	167	(5, 488)
	Adjustment for: Depreciation/amortisation	454	357	763
	Finance cost	1,956	2,784	4,806
	Interest income	(476)	(361)	(797)
	Dividend income	(7)	(2)	(19)
	Gain on remeasurement of lease liability	(5)	÷
	Liabilities written back	(228)	÷
	Profit on disposal/written off of property, plant and equipment - (Net)	(1)	$\sim$	$\sim$
	Share of (Profit)/Loss from partnership firms and LLP	(2,030)	(242)	141
	Gain on IND AS valuation	÷	19	(65)
	Equity settled share based payments to employees Expected losses for trade receivables	19	42	19 77
	Provision for doubtful advances		224	1,252
	Loss on redemption of optionally convertible debentures		32	335
	Provision for loss on impairment of investment			461
	Operating profit before Working Capital changes	(287)	3,020	1,485
	Adjustments for changes in Working capital (Increase)/decrease in inventories
	(Increase)/decrease in trade receivables	(12, 736) 391	(51) 209	(10, 060)
	(Increase)/decrease in financial assets others - non current and current	(192)	(317)	(257) 539
	(Increase)/decrease in other non-current and current assets	(4, 102)	(739)	(3,040)
	Increase/(decrease) in trade payables	(523)	(3,832)	(982)
	Increase/(decrease) in other financial liabilities and other liabilities - non current and current	23,238	7,079	21,164
	Increase/(decrease) in provisions - non current and current	72	58	214
	Cash generated from/ (used in) operations	5,861	5,427	9,063
	Income taxes refund/ (paid)-net Net Cash from / (used in) operating activities (A)	(566)	(421)	(893)
		5,295	5,006	8,170
B	CASH FLOW FROM INVESTING ACTIVITIES
	Payment for Purchase of property , plant and equipment, Intangible assets, and CWIP including capital advances	(945)	(73)	(254)
	Proceeds from sale of property, plant and equipment and intangible assets	$\overline{2}$	÷	12
	Bank deposits placed	(18, 110)	(10)	(4.085)
	Bank deposits realized	18,939	102	3,037
	Purchase of Investment	(3,920)	(1)	(2,866)
	Proceeds from sale/redemption of investments	1,193	ä,	1,565
	Inter-corporate deposits placed Inter-corporate deposits realized	(3,604)	(514)	(666)
	Amounts Invested in partnership firms & LLPs - Current	201 (736)	$\ddot{\phantom{1}}$ 376	163
	Interest received	169	57	2,076 405
	Dividend received	$\overline{\mathcal{I}}$	$\overline{\mathbf{2}}$	19
	Bank Balances not considered as Cash and Cash Equivalents invested (net)	46	(1, 131)	(3,862)
	Net Cash from/(used in) investing activities (B)	(6,758)	(1, 192)	(4, 456)
c	CASH FLOW FROM FINANCING ACTIVITIES
	Repayment of lease liability	(359)		(647)
	Interest paid Dividend paid	(4, 154)	(1,795)	(3,400)
	Proceeds from long term borrowings	(1,520) 22,512	(4) 5,000	$\overline{7}$ 22,445
	Repayment of long term borrowings	(14, 796)	(10, 186)	(20, 134)
	Proceeds from Short term borrowings	5,305	4,651	8,101
	Repayment of Short term borrowings	(9,761)	(3, 285)	(4,312)
	Net Cash from/(used in) financing activities (C)	(2, 773)	(5,619)	2,060
D	Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C)	(4, 236)	(1,805)	5,774
	Cash and cash equivalents (Opening balance)	10,366	4,592	4,592
	Cash and cash equivalents (Closing balance)	6,130	2,787	10,366
	NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS	(4, 236)	(1,805)	5,774

P19* 4 o{i te-The Company is predominantly engaged in the business of Real Estate. Thus there are no separate reportable operating segments in accordance with Indian Accounting Standard ("lnd AS") 108 - Operating SeBments.
Since the nature of activities being carried out by the Company is such that profits / (losses) ftom certain transactions do not necessarily accrue evenly over the year, results of a quarter may not be representative of profits / (losses) for the year.
The results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34-lnterim financial reporting prescribed under section 133 of the companies Act, 2013 read with relevant rules issued thereunder as amended from time to time.
During the quarter ended 30 September 2022, the Company has formed subsidiary namely Kolte-Patil Kiwale project private Limited ("Kp Kiwale') for development of real estate project.
The Company has acquired 1(X)% equity shares of Sampada Realities Private Limited ("Sampada/SRPt") from independent third parties pursuant to share purchase agreements dated August lO, 2022 and August 30, 2022 for Rs. 5,477 lakhs and 10096 Compulsorily Convertible Debentures (cCD) for Rs. 1,005 lakhs aggretating Rs. 7,482 lakhs. Sampada became a wholly owned subsidiary ofthe Company.
The Board of Directors of the Company in their meeting on November 10, 2022 have approved the proposed scheme of merger of Sampada Realities private Limited (wholly owned subsidiary) with the company. The proposed appointed date of the scheme would be october 1, 2022, subject to the filing of the merger scheme and approvals fiom regulatory authorities.
10 The Company, through its wholly-owned subsidiary Sampada Realities Private Limited, is planning to enter into an agreement with Kolte-patil Kiwale project private Limited (SPV between the Company and Planet Holding Ltd, UK) for a joint development of 5.!4 lakhs sq.ft. of its project 'Little Earth' at Kiwale, pune for Rs. 7,855 lakhs.
11 The unaudited standalone financial results will be posted on the website of the Company www.koltepatil.com and will be available on website of the National Stock Exchange of India Limited (NSE) and 8SE Limited (BSEI.
The fi8ures for the previous period / year have been regrouped and re-arranged, wherever necessary, to align with the current period/year.

Place: Pune Date: November 10,2022

For and on behaff of the Board of Directo,s of l(olt€+atil Derelopers limlted

lt I l/\J

Raiesh Patil Chairman and Managing Director (DtN 00381855)

We s c[ tz

chartered Accountants 706,'B'Wing, 7th Floor ICC Trade Tower Senapati Bapat Road Pune-41 1 01 5 Maharashtra, India

Tel: +91 20 66244600 Fax: +9'1 20 66244605

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDATONE FINANCIAT RESUTTS

TO THE BOARD OF DIRECTORS OF KOLTE-PATIt DEVETOPERS tIM ITED

!. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of KOTTE-PATIt DEVETOPERS tlM|TED ("the Company"), for the quarter and six months ended 30 September 2022 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "lnterim Financial Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (lCAl). A review of interim financial information consists of making inquiries, primarily of the Company,s personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
1. Based on our review conducted as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors as referred in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. The standalone unaudited financial results include the Company's share of loss (net) Rs. 21 lakhs and Rs. 4 lakhs for the quarter and six months ended 30 September 2022 respectively, from its investment in partnership firms and Limited Liability partnership ("LLps") whose financial information have not been reviewed by us. These financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts included in respect of these partnership firms and Limited Liability Partnership ("LLPS"), is based solely on the reports ofthe other auditors.

our conclusion on the statement is not modified in respect of this matter.

For Deloitte Haskins & Sells [[P Chartered Accountants (Firm's Registration No. 117366WW-100018)

Saira Nainar Partner (MembershiP No. 040081)

UDIN:

Pune, 10 November 2022

Regd. Office: One lnternationat Center, Tower 3, 32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-4o0 0'1 3, Maharashtra, India' (LLP ldentification No. MB-8737)

KOLTE-PATIL DEVELOPERS LIMITED

Page 6 of 12

Corporate Identification Number: L45200PN1991PLC129428

Registered Office: 2nd Floor, City Point, Dhole Patil Road, Pune- 411001

Tel. No. +91 20 66226500 Fax No. + 91 20 66226511. Website: www.koltepatil.com. Émail: inves

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2022

							(Rs. In Lakhs)
			Quarter Ended		Six Months Ended		Year Ended
Sr.	Particulars	30-Sept-2022	30-June-2022	30-Sept-2021	30-Sept-2022	30-Sept-2021	31-March-2022
No.		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
$\mathbf{1}$	Revenue from Operations	12,331	20,011	30,378	32,342	50,109	111,748

$\mathbf{z}$	Other income	1,446	426	568	1,872	972	1,902
з	Total Income (1+2)	13,777	20,437	30,946	34,214	51,081	113,650
4	Expenses
	(a) Cost of services, construction and land	8,735	11,261	22,099	19,996	32,686	77,228
	(b) Employee benefits expense	1,955	1,965	1,696	3,920	3,107	7,055
	(c) Finance costs **	1,148	837	1,201	1,985	2,962	5,003
	(d) Depreciation and amortization expenses	311	264	256	575	503	1,039
	(e) Other expenses	2,199	2,096	1,308	4,295	2,793	8,845
	Total expenses (a to e)	14,348	16,423	26,560	30,771	42,051	99,170
5	Profit / (Loss) before Share of profit / (loss) of and associates, a joint ventures and exceptional items (net)(3- 4)	(571)	4,014	4,386	3,443	9,030	14,480
6	Share of profit / (loss) of joint ventures, associates (net)	(49)	(31)	(24)	(80)	(49)	(159)

7	Profit / (loss) before exceptional items and tax (5+6)	(620)	3,983	4,362	3,363	8,981	14,321
8	Exceptional items	$\omega$	$\mathbf{r}$	$\overline{a}$	$\sim$	$\mathbf 0$	(692)

9	Profit / (loss) before tax (7+8)	(620)	3,983	4,362	3,363	8,981	13,629
10	Tax expense / (Credit)
	-Current Tax #	924	733	2,049	1,657	3,877	4,977
	Deferred Tax	(856)	648	288	(208)	0	167
	Total tax expenses / (credit) for the period /year	68	1,381	2,337	1,449	3,877	5,144
11	Net Profit / (Loss) after Tax (9-10)	(688)	2,602	2,025	1,914	5,104	8,485

	Net Profit / (Loss) attributable to
	Owners of the company	(879)	2,123	1,770	1,244	4,720	7,941 544
	Non-controlling interests	191	479	255	670	384
12	Other comprehensive income (Net of tax)
	Items that will not be reclassified to profit & loss				×,	×	74
	Owners of the company				$\bar{a}$		3
	Non-controlling interests						8,562
13	Total comprehensive income / (loss) for the period / year $(11+12)$	(688)	2,602	2,025	1,914	5,104

	Total comprehensive income / (loss) attributable to		2,123	1,770	1,244	4,720	8,015
	Owners of the company	(879) 191	479	255	670	384	547
	Non-controlling interests Total comprehensive income / (loss) for the period / year	(688)	2,602	2,025	1,914	5,104	8,562

14	Paid - up equity share capital (Face Value of Rs. 10/- each)	7,600	7,600	7,600	7,600	7,600	7,600
15	Other equity excluding revaluation reserves as per balance sheet	£	×	¥,	88,053	86,532	88,329
16	Earnings Per Share (EPS.) (Face value of Rs. 10/- each) *
	Basic (Rs)	(1.15)	2.79	2.33	1.64	6.21	10.45
	Diluted (Rs)	(1.15)	2.79	2.33	1.64	6.21	10.45

* Basic and Diluted EPS for all periods, except year ended 31st March 2022, are not annualised

Includes Rs. 904 Lakhs for quarter ended September 30, 2021, Rs. 1232 Lakhs for six month ended September 30, 2021 and Rs. 1,232 Lakhs for year ended March 31, 2022, towards Income tax pertaining to prior years.

Notes:
1 The above financial results of Kolte-Patil Developers Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net $42$

profit / (loss) after tax and total comprehensive profit / (loss) of its joint ventures and associates were reviewed and recommended by the Audit Committee and taken on record by the Board of Directors at their meeting held on November 10, 2022.

2 Statement of Assets and Liabilities

(Rs. In Lakhs)

Particulars	As at September 30,2022	As at March 31,2022
Assets	(unaudited)	(Audited)
Non-current assets
(a) Property, Plant and Equipment
(b) Right of use asset	5,080	4,651
(c) Capital Work in Progress	2,014	1,684
(d) Investment Property	94
(e) Goodwill	1,808	1,831
(f) Intangible Assets	20,403 87	20,403
(g) Financial Assets		68
(i) Investments	4,680	4,639
(ii) Trade Receivables	827	1.184
(iii) Other Financial Assets	5,270
(h) Deferred Tax Assets (Net)	17,683	4,798
(i) Income Tax Assets (Net)		17,189
(j) Other Non-Current Assets	4,168 9,209	3,572
Total Non - Current Assets		6,501
Current assets	71,323	66,520
(a) Inventories
(b) Financial Assets	317,478	283,687
(i) Investments
(ii) Trade Receivables	234	1,430
(iii) Cash and cash equivalents	2,791	2,575
(iv) Other Balances with Banks	13,631	14,641
(v) Other Financial Assets	9,582	12,930
(c) Other current assets	992	546
Total Current Assets	18,726	14,690
	363,434	330,499
Total Assets EQUITY AND LIABILITIES	434,757	397,019
EQUITY
(a) Equity Share Capital	7,600	7,600
(b) Other Equity	88,053	88,329
Equity attributable to owners of the Company	95,653	95,929
(c) Non-controlling interests
Total Equity	935 96,588	789 96,718
LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	34,875	24,942
(ii) Lease liability	1,632	1,352
(iii) Trade Payable
A. Dues of micro and small enterprises B. Dues of other than micro and small enterprises
	192
(iv) Other Financial Liabilities	3,696	3,283
(b) Provisions	4,843	4,414
(c) Other non current liabilities	435
Total Non - Current Liabilities	45,673	33,991
Current liabilities
(a) Financial liabilities
(i) Borrowings	22,417	27,218
(ii) Lease liability	632	543
(iii) Trade payables
A. Dues of micro and small enterprises B. Dues of other than micro and small enterprises	1,981	2,327
	24,602	26,456
(iv) Other Financial Liabilities	4,161	550
(b) Provisions	1,128	1,051
(c) Current Tax Liabilities (Net)	782	593
(d) Other current liabilities	236,793	207,572
Total Current Liabilities	292,496	266,310
Total Equity and Liabilities	434,757	397,019

			(Rs. In Lakhs)
	Six Months Ended		Year Ended
Particulars	30-Sept-2022	30-Sept-2021	31-March-2022
А CASH FLOW FROM OPERATING ACTIVITIES	(Unaudited)	(Unaudited)	(audited)
Net profit / (loss) before tax and after exceptional items
Adjustment for:	3,443	9,030	13,788
Depreciation and Amortisation expenses
(Profit) / loss on sale of Property, Plant and Equipment	574	503	1,039
Expected losses for trade receivables	(4)		(5)
Provision for doubtful advances	19	42	77
Finance cost	281	224	1,490
Interest income	1,985	2,962	5,003
Sundry balance written back	(219)	(153)	(340)
Effect of change in shareholding pattern stake in subsidiary	(244)	(182)	(194)
Dividend income			(1, 440)
Gain on remeasurement of lease liability	(7)	(2)	(19)
Fair value of current investment	(5)
Net gain arising on financial assets and liabilities designated at FVTPL	(7) 982		$\overline{2}$
Equity settled share based payments to employees		(76) 17
Operating profit before working capital changes	6,798	12,365	17
			19,418
Adjustments for changes in working capital
(Increase)/decrease in inventories *	(26, 508)	(580)	2,714
(Increase)/decrease in trade receivables non current and current *	122	513	(531)
(Increase)/decrease in financial assets others - non current and current	(891)	(594)	1,304
(Increase)/decrease in other non-current and current assets *	(7,025)	(1, 932)	1,452
Increase/(decrease) in trade payables non current and current *	(1,764)	(3, 118)	(2, 275)
Increase/(decrease) in financial liabilities others - non current and current	410	305	2,755
Increase/(decrease) in liabilities others - non current and current *	29,656	11,323	15,749
Increase/(decrease) in provisions - non current and current *	506	59	(375)
Cash generated from operations	1,304	18,341	40,211
Income taxes refund/ (paid) net	(2,064)	(1, 457)	(4,600)
Net Cash from operating activities (A)	(760)	16,884	35,611

CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditure on Property, Plant & equipment, intangible assets, CWIP	(816)	(117)	(1, 208)
Additional investment against additional stake purchases in subsidiary/joint	(3,065)	(813)	(2, 597)
venture net of cash balances
Proceeds from sale of property, plant & equipment	4	$\circ$	114
Purchase/redemtion of current investments (mutual funds) Dividend Received	1,203	(2)	(1, 370)
Bank deposits placed		$\overline{2}$	19
Bank deposits realized	(27, 820)	(1, 484)	(35, 499)
Interest income received	28,631	1,583	36,463
Bank Balances not considered as Cash and Cash Equivalent invested (net)	212	163	340
Net Cash used in investing activities (B)	2,537	(1,616)	(7, 785)
	893	(2, 284)	(11, 523)
CASH FLOW FROM FINANCING ACTIVITIES
Repayment of lease liability	(361)
Repayment of Long term borrowings *	(17, 181)	(13,044)	(647)
Proceeds from Long term borrowings	22,467	7,332	(35, 619) 24,489
Dividend Paid	(1, 520)	(4)	(7)
Finance cost paid	(2,900)	(3, 310)	(5,933)
Proceed from related party (net)	2,496
Repayment of short term borrowings (Net)	(3,652)	(6, 597)	(3, 201)
Contribution by/ (payment to) non-controlling interest holders	(524)	(348)	225
Net Cash from used in financing activities (C)	(1, 175)	(15, 971)	(20, 693)
Net Increase in Cash and cash equivalents (A+B+C)	(1,042)	(1, 371)	3,395
Cash and cash equivalents (opening balance)	14,641	11,246	11,246
Cash and cash equivalents received on account of aquistion of subsidiary	32
Cash and cash equivalents (closing balance)	13,631	9,875	14,641
NET INCREASE IN CASH AND CASH EQUIVALENTS	(1,042)	(1, 371)	3,395

4 The Group is predominantly engaged in the business of Real Estate. Thus there are no separate reportable operating segments in accordance with Indian Accounting Segments in accordance with Indian Accounting Segments $9$ of 2 ard ("Ind AS") 108 - Operating Segments.

PARTICULARS		Quarter Ended			Six Months Ended
	30-Sept-2022	30-June-2022	30-Sept-2021	30-Sept-2022	30-Sept-2021	31-March-2022
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Revenue from operations	4,038	11.367	6,790	15,405	17,344	37,760
Profit / (loss) before tax	(2,026)	2,057	(733)	31	167	(5, 153)
Total Comprehensive Income / (Loss)	(1, 362)	1.895	(1,615)	533	(1, 347)	(5,654)

6 Since the nature of activities being carried out by the Group is such that profits / losses from certain transactions do not necessarily accrue evenly over the year, results of a quarter may not be representative of profits / losses for the year.

During the period, the Group has incorporated two new wholly owned subsidiary namely Kolte-Patil Kiwale Project Private Limited and Kolte-Patil Columbia Pacific Senior Living Private $\overline{7}$ Limited.

8 The Company has acquired 100% equity shares of Sampada Realities Private Limited ("Sampada/SRPL") from independent third parties pursuant to share purchase agreements dated August 10, 2022 and August 30, 2022 for Rs. 6,477 lakhs and 100% Compulsorily Convertible Debentures (CCD) for Rs. 1,005 lakhs aggregating Rs. 7,482 lakhs. Sampada became a wholly owned subsidiary of the Company.

Acquisition of SRPL has been accounted as an acquisition of group of asset using the asset concentration test under Ind AS 103 - Business Combination. The Purchase consideration has primarily been allocated to the individual identifiable assets and liabilities in proportion to their relative fair values at the date of purchase. This transaction has not resulted into any Goodwill / Capital Reserve.

9 The Board of Directors of the Company in their meeting on November 10, 2022 have approved the proposed scheme of merger of Sampada Realities Private Limited (wholly owned subsidiary) with the Company. The proposed appointed date of the scheme would be October 1, 2022, subject to the filing of the merger scheme and approvals from Regulatory Authorities.
10 The Company, through its wholly-owned subsidiary Sampada Realities Private Limited, is planning to enter into an agreement with Kolte-Patil Kiwale Project Private Limited (SPV between the Company and Planet Holding Ltd, UK) for a joint development of 6.54 lakhs sq.ft. of its project 'Little Earth' at Kiwale, Pune for Rs. 7,855 lakhs.
11 The results have been prepared in accordance with the recognition and measurement principles laid down in the Ind AS 34-Interim financial reporting prescribed under section 133 of the companies Act, 2013 read with relevant rules issued thereunder as amended from time to time.
12 The unaudited consolidated financial results will be posted on the website of the Company www.koltepatil.com and will be available on website of the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).
13 The figures for the previous period / year have been regrouped and re-arranged, wherever necessary, to align with the current period/year.

Place: Pune Date: November 10, 2022

Develo, $P_0$ ۵ 责

Kolte-Patil Developers Limited

Rajesh Patil Chairman and Managing Director (DIN 00381866)

J Chartered Accountants 706,'B'Wing, 7th Floor ICC Trade Tower Senapati Bapat Road Pune-41 1 01 6 Maharashtra, India

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Tel: +91 20 66244600 Fax: +91 20 66244605

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOTIDATED FINANCIAT RESUtTS

TO THE BOARD OF DIRECTORS OF KOITE.PATIt DEVELOPERS LIMITED

L. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of KoITE-PATIL DEVETOPERS uMITED (,,the parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group,,), and its share of the net profit after tax and total comprehensive income of its associates and joint ventures for the quarter and six months ended 30 September 2022 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting standard 34 ..lnterim Financial Reporting" ("lnd AS 34"), prescribed under section 133 of the companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. our responsibility is to express a conclusion on the Statement based on our review'
1. we conducted our review of the statement in accordance with the standard on Review Engagements (sRE) 2410 "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (lCAl). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures' ^A review is substantially less in scope than an audit conducted in accordance with standards on Auditing specified under Section 143(10) of the companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Developers Limited
uscan Real Estate Private Limited
Kolte-Patil Real Estate Private Limited
fotte-patit Integrated Townships Limited (formerly known as Kolte-Patil l-Ven Towns ne)Limited)
s Facility Management Company Private L'tlgg
Kolte-Patil Properties Private Limited (formerly known as Kolte-Patil Redevelopment Privat
Agrotech Private Limited
Acres Realty Private Limited
Kolte-Patil Global Private Limited
ffimited(formerlyknownasAnishaLifespacesPrivateLimited)

4.TheStatementincludestheresultsofthefollowingentities:

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Regd. office: one lnternatronal center, Tower 3, 32nd Floor, senapati Bapat N/arg, Elphinstone Road (west), Mumbai-400 0'13, Maharashtra' India (LLP ldentification No. MB-8737)

(xiii)	(P-Rachana Real Estate LLP	iubsidiary
(xiv)	louvardia Developers LLP	iubsidiary
(xv)	larnation Landmarks LLP	iubsidiary
(xvi)	KPSK Project Management LLP	iubsidiary
(xvii)	Regenesis Project Management LLP	Subsidiary
(xviii)	lluebell Township Facility Management LLP	iubsidiary
(xix)	(PE Private Limited	>ubsidiary
(xx)	(olte Patil Infratech DMCC	iubsidiary
(xxi)	(olte-Patil Services Private Limited	iubsidiary
(xxii)	Kolte-Patil Foundation	Subsidiary
(xxiii)	Kolte-patil Realtors Private limited (formerly known as Woodstone Real Estate Private Limited	Subsidiary
(xxiv)	Kolte- Patil Kiwale Project Private Limited (w.e.f 26 August 2022)	Subsidiary
(xxv)	(olte-Patif Columbia Pacific Senior living Private Limited (w.e.f 27 July 20221	iubsidiary
(xxvi)	iampada Realities Private Limited (w.e.f 10 4!qgg94l	Subsidiary
(xxvii)	inowflower Properties Private Limited	Associate
(xxviii)	<ott"-p.tit (formerly="" as="" estate="" jasmine="" known="" limited="" planet="" private="" privateimited)	Associate
(xxix)	)MK Infrastructure Private Limited	lolnl ventul
(xxx)	Amco Landmarks RealtY	loint Venture

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the sEBl (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
we did not review the interim financial information of 20 subsidiaries included in the consolidated unaudited financial resufts, whose interim financial information reflect total assets of Rs. 25,469 lakhs as at september 30' 2022' total revenues of Rs.3,722lakhs and Rs. 5,452 lakhs for the quarter and six months ended September 30, 2022 respectively, total net profit/(loss) after tax of Rs. (77) lakhs and Rs. 142 lakhs for the quarter and six months ended september 30' 2022 respectively and total comprehensive income/(loss) of Rs. (77) lakhs and Rs' 142 lakhs for the quarter and six months ended September 30, 2022 respectively and net cash inflow of Rs' 198 lakhs for the six months ended September 30,2022, as considered in the Statement. The consolidated unaudited financial results also include the Group,s share of profit after tax of Rs. 14 lakhs and Rs. 7 lakhs for the quarter and six months ended september 30' 2022 respectively and Total comprehensive profit of Rs. 14 lakhs and Rs. 7 lakhs for the quarter and six months ended September 30,2ozzrespectively, as considered in the statement, in respect of 2 joint ventures, whose interim financial information have not been reviewed by us. This interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the statement' in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports ofthe other auditors and the procedures performed by us as stated in paragraph 3 above' Our conclusion on the Statement is not modified in respect of these matters'

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The consolidated unaudited financial results include the interim financial information of 1 subsidiary which have not been reviewed by their auditors, whose interim financial information reflect total assets of Rs. 96 lakhs as at September 30, ²⁰²²and, total revenue of Rs. Nil and Rs. Nil for the quarter and six months ended September 30, 2022 respectively, total profit/(loss) after tax of Rs 8 Lakhs and Rs. 12 Lakhs for the quarter and six months ended September 30, ²⁰²² respectively and Total comprehensive loss of Rs. 8 Lakhs and Rs. 12 Lakhs for the quarter and six months ended September 30, 2022 respectively and net cash outflow of Rs. 11 for the six months ended September 30, 2022' as considered in the Statement.

our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For Deloitte Haskins & Sells ttP Chartered Accountants (Firm's Registration No. 117366WW-100018)

Wt' v Saira Nainar

Partner (MembershiP No. 040081)

P"gu tL oi \L

UDIN:

Pune, 10 November,2022

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AI assistant

Kolte-Patil Developers Ltd Capital/Financing Update 2022