In the Companys twentieth year of uncompromised standards of service
 and with a motto of Creation, not Construction as the foundation of
 our every endeavor, we have grown strength by strength in the last two
 decades. Your Directors take great pleasure in presenting the Twentieth
 Annual Report on the business and operations of the Company, together
 with the audited Financial Statements for the financial year ended on
 31st March, 2011.
 
 The Company is engaged in various segments namely Real Estate
 Development, Hospitality and Retail. However, in the financial year
 2010-2011, there was only one reportable segment namely Real Estate
 Development.
 
 Financial Highlights
 
                                                       (Rs. in Lakhs)
 
 Particulars                                  2010-2011     2009-2010
 
 Net Sales and Other Income                   15,144.50      9,021.93
 
 Less: Expenditure                             7,074.80      4,957.04
 
 Less: Financial Charges                         466.27        639.29
 
 Less: Depreciation/Amortization                 116.56        112.71
 
 Profit Before Tax                             7,486.86      3,312.89
 
 Less: Provision for taxation                  2,222.29        547.26
 
 Profit After Tax                              5,264.57      2,765.63
 
 Add: Prior Period adjustments                        -         (5.49)
 
 Add: Balance of Profit and Loss Account 
 brought forward from the previous year       26,349.29     24,654.02
 
 Profit available for appropriation           31,613.87     27,414.16
 
 Appropriations:
 
 Transfer to General Reserve                     400.00        180.00
 
 Proposed Dividend (includes tax on dividend)  1,409.08        884.86
 
 Balance carried to Balance Sheet             29,804.79     26,349.29
 
 Performance Review
 
 Your Company has always endeavored to conceptualize projects, keeping
 in mind a wide array of customer requirements such as affordable
 housing, luxury incarnate, eco-friendly homes, etc.
 
 We believe in the concept of - A Home for Everyone, from providing
 facilities for simple living to providing a bouquet of amenities; we
 try to cater the needs of every class/category of buyers.
 
 During the financial year under review, the total sales, other
 operating income and other income increased from Rs. 9,021.93 Lakhs to
 15,144.50 Lakhs, a net increase of 68%. Similarly, the Profit before
 tax showed a phenomenal jump of 126%, rising from Rs. 3,312.89 Lakhs to
 Rs. 7,486.86 Lakhs and Profit after tax recorded a significant growth
 of 90% to Rs. 5,264.57 Lakhs from Rs. 2,765.63 Lakhs.
 
 During the financial year 2010-2011, the Company amended its Main
 Objects Clause and Other Objects Clause of Memorandum of Association so
 as to cover the ancillary activities in Real Estate Development
 Business.  Members of the Company accorded their consent through Postal
 Ballot for the said amendment and the resolutions were passed as
 Special Resolutions. Registrar of Companies, Pune has issued the
 Certificate of Registration of the Special Resolution confirming
 alteration of Objects Clause(s) of the Memorandum of Association on 3rd
 January,
 
 2011. Also, the members passed an Ordinary Resolution by way of Postal
 Ballot authorizing the Board of Directors of the Company to mortgage
 and / or charge the properties of the Company to secure borrowings
 availed / to be availed not exceeding Rs. 600 Crores.
 
 Dividend
 
 Considering the financial position of the Company, your Directors have
 recommended a dividend of Rs.1.60 per equity share on 7,57,74,909
 Equity Shares of the Company.
 
 Projects
 
 Green Olive is a 2 and 3 BHK Luxurious Apartments project which is
 located at Hinjewadi, where style and luxury merge beautifully to form
 the perfect home for you. This project has been launched recently and
 has received an overwhelming response.
 
 Glitterati is an ongoing project of the Company which is located just 4
 kms away from Punes major IT hub, Hinjewadi Infotech Park, offers
 irresistible super lavish couture homes, flaunting unfathomable
 reservoir of luxury, style and beauty.
 
 City Bay is a commercial project of the Company situated at Boat Club
 Road, Pune with total saleable area of approximately 95,000 sq.ft. Your
 Company has received an outstanding response to this new commercial
 project.
 
 Alyssa is a commercial project of the Company situated at Richmond
 Road, Bengaluru with saleable area of approximately 43,475 sq. ft. Your
 Company has received good response for the project.
 
 Koramangala project is a commercial project situated at Koramangala,
 Bengaluru with saleable area of approximately 1,98,000 sq. ft.
 
 Joint Venture Projects
 
 Corolla Realty Private Limited
 
 Corolla Realty Private Limited is coming up with a project in Wagholi,
 Pune. The project consists of Twin Bungalows, Row Houses, Affordable
 Homes, Mid Income Group Housing, Residential cum Commercial Building,
 etc. During the year under review, the Company had received a good
 response for its affordable housing scheme Umang Homes. The delivery
 of Umang Homes Phase-I is expected by July 2011, will see a boost for
 sale of the new phases in future. The Company had launched its new
 scheme IVY Estate consisting of Villas, Twin Bungalows, Row Houses
 and Luxury Apartments for which Company had received good response.
 
 Kolte-Patil I-Ven Townships (Pune) Private Limited
 
 Kolte-Patil I-Ven Townships (Pune) Private Limited is coming up with a
 residential project in Jambhe, Pune.  During the year under review, the
 Company had pre-launched its Township Project Phase-I (approximately
 150 acres) consisting Row Houses, Twin Bungalows and 1/2/3 BHK
 Apartments. During the pre-launch of the project, the Company had
 received a good response for the project.
 
 Directors
 
 During the year under review, there was no change in the composition of
 the Board of Directors of the Company.
 
 Pursuant to Section 256 of the Companies Act, 1956 read with the
 Article 167 of Articles of Association of the Company, Mr. G. L.
 Vishwanath and Mr. Jayant Pendse; Directors, retire by rotation and
 being eligible, have offered themselves for re-appointment at the
 ensuing Annual General Meeting. The brief profile of the Directors
 seeking re-appointment has been annexed to the Notice of the Annual
 General Meeting.
 
 Subsidiary Companies
 
 The Company has 13 Subsidiary Companies as on 31st March, 2011 namely,
 Regenesis Project Management Company Private Limited, Yashowardhan
 Promoters and Developers Private Limited, Sylvan Acres Realty Private
 Limited, I-Ven Kolte-Patil Projects (Pune) Private Limited, Lilac
 Hospitality Private Limited, Olive Realty Private Limited, Bellflower
 Properties Private Limited, Jasmine Hospitality Private Limited,
 Oakwoods Hospitality Private Limited, Regenesis Facility Management
 Company Private Limited, PNP Retail Private Limited, Kolte-Patil Real
 Estate Private Limited and Snowflower Properties Private Limited.
 
 Particulars under Section 212 of the Companies Act, 1956
 
 As per Section 212 of the Companies Act, 1956, the Company is required
 to attach the Directors Report, Balance Sheet and Profit and Loss
 Account of its subsidiaries to its Annual Report. However, Ministry of
 Corporate Affairs has vide its General Circular No. 2/2011 dated 8th
 February, 2011 granted exemption for not attaching Annual Report of
 Subsidiary Companies provided that, such Companies publish the Audited
 Consolidated Financial Statement in the Annual Report. Your Company has
 complied with all the requirements of the circular of Ministry and
 accordingly, the Annual Report does not contain the Financial
 Statements of the above Subsidiary Companies.  The Consolidated
 Financial Statements present a full and fair picture of the state of
 affairs and the financial condition. The audited annual accounts and
 related information of subsidiaries will be made available upon
 request.  These documents will also be available for inspection during
 business hours at our Registered Office in Pune, Maharashtra, India.
 
 The financial details of the Subsidiary Companies, as well as the
 extent of holdings therein as required under the aforesaid General
 Circular, are provided in Annexure III to the Directors Report.
 
 A brief summary of the activities carried out by the Subsidiary
 Companies are as follows:
 
 Kolte-Patil Real Estate Private Limited is a Joint Venture Company and
 the School project i.e Victorious Kidss Educares School, (IB School)
 is nearing completion with regard to its construction activities. The
 various other residential and commercial projects of the Company at
 Kharadi, Pune are ongoing and approvals from various authorities are
 expected in due course.
 
 I-Ven Kolte-Patil Projects (Pune) Private Limited is a Joint Venture
 Company which is coming up with a residential project- Tuscan Estate
 admeasuring approximately 12 acres in Kharadi, Pune. The project is
 located on the eastern side of the Pune city, having many IT companies
 in vicinity. The proposed project consists of 3 BHK Luxury Apartments
 and 4 BHK Penthouses. During the year under review, the Company had
 launched the project and had received a good response, especially
 because of the cost being between Rs. 70 to 85 Lakhs bracket for a
 quality product and at a central location. As it is just not an
 apartment but a blend of various other factors; the project is being
 promoted as Collage Homes which is collage of many features like
 location, internal planning, specifications, elevation, landscaping,
 etc.
 
 Bellflower Properties Private Limited is a Joint Venture Company and
 has started Phase –II of its residential project namely Margosa
 Heights, at Mohammadwadi, NIBM annex Pune. This project offers
 ambience of natural beauty while being closely connected to the
 essential necessities of life.
 
 Yashowardhan Promoters and Developers Private Limited was a Joint
 Venture Company. However, during the year under review, your Company
 acquired further 40% stake in this Subsidiary Company and consequently,
 this Company became the Wholly Owned Subsidiary of your Company. This
 Company has successfully completed its commercial project namely
 Shoppers Orbit at Vishrantwadi, Pune and has successfully launched
 Phase - II i.e. Row Houses for the residential project Dew Drops.
 
 PNP Retail Private Limited is a Subsidiary Company. PNP Retails are
 neighborhood stores that cater to the daily and weekly top-up shopping
 needs of customers regarding fruits and vegetables, food and non-food
 fast moving consumer goods, staple and frozen food items, personal and
 home care products. The Company proposes to expand its operations
 through chain of retail stores.
 
 Regenesis Project Management Company Private Limited is a Wholly Owned
 Subsidiary which has been set up primarily to provide project
 management services.
 
 Sylvan Acres Realty Private Limited is a Joint Venture Company set up
 for investment in Township project at Pune.
 
 Lilac Hospitality Private Limited is a Wholly Owned Subsidiary set up
 for providing hospitality management services to hotel projects.
 
 Olive Realty Private Limited is a Wholly Owned Subsidiary set up, to
 carry on the business of real estate development at Phursungi, Pune.
 
 Jasmine Hospitality Private Limited is a Joint Venture Company set up
 for developing a hotel at Bengaluru.
 
 Oakwoods Hospitality Private Limited is a Joint Venture Company set up
 for developing a hotel at Pune.
 
 Regenesis Facility Management Company Private Limited is a Wholly Owned
 Subsidiary Company set up to provide facility management and property
 maintenance services.
 
 Snowflower Properties Private Limited is a Wholly Owned Subsidiary
 Company which proposes to invest in land in order to start its new real
 estate project.
 
 Fixed Deposits
 
 Your Company had launched Fixed Deposit Scheme and has been accepting
 Fixed Deposits for a period of 1 year, 2 years and 3 years. The Company
 has received an overwhelming response from the investors since
 Shareholders of the Company, Senior Citizens, Flat Owners of
 Kolte-Patil Group, Handicapped Persons, Armed Force Personnel and
 Employees of Kolte-Patil Group are entitled to receive additional 0.50%
 rate of interest on the deposits invested with the Company. The
 Management of the Company is thankful to all the investors for
 participating in the scheme and for the faith reposed in the Company.
 
 Fixed Deposits accepted as on 31st March, 2011 stood at Rs. 610.10
 Lakhs as against Rs. 158.00 Lakhs in the previous year. For the year
 ended 31st March, 2011, your Company has mobilized deposits aggregating
 to Rs.  602.10 Lakhs (Previous year Rs. 158.00 Lakhs). None of the
 deposits which have matured, have remained unpaid.
 
 Employees Stock Option Scheme 2006 (ESOS)
 
 During the year, Kolte-Patil ESOS, 2006 was concluded. The Company is
 in the process of introducing the new Employees Stock Option Scheme for
 the permanent employees of the Company and its Subsidiary Companies
 pursuant to the Special Resolution passed by the members of the Company
 in the Nineteenth Annual General Meeting.
 
 Disclosures in respect of Kolte-Patil ESOS, 2006 in compliance with
 Clause 12 of the Securities and Exchange Board of India (Employee Stock
 Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, as
 amended, are set out in Annexure IV to this Report.
 
 Investors Relations and Grievances
 
 Investor Relations have been cordial during the year. The Company has a
 Shareholders and Investors Grievance Committee which addresses the
 issues relating to investors. There were no investor grievances pending
 as on 31st March, 2011. A confirmation to this effect has been obtained
 from the Companys Registrar and Share Transfer Agent. The details
 regarding the investor complaints received and resolved during the
 year, are mentioned in the Report on Corporate Governance annexed to
 this report.
 
 Directors Responsibility Statement
 
 In accordance with the provisions of Section 217(2AA) of the Companies
 Act, 1956, your Directors state that:
 
 i) in the preparation of accounts, the applicable accounting standards
 have been followed and no significant departures have been made from
 the same.
 
 ii) accounting policies selected were applied consistently. Reasonable,
 prudent judgments and estimates were made so as to give a true and fair
 view of the state of affairs of the Company at the end of 31st March,
 2011 and of the Profit of the Company for the year ended on that date.
 
 iii) proper and sufficient care has been taken for the maintenance of
 adequate accounting records in accordance with the provisions of the
 Companies Act, 1956 for safeguarding of assets of the Company and for
 preventing and detecting frauds and other irregularities.
 
 iv) the annual accounts of the Company have been prepared on a going
 concern basis.
 
 Auditors
 
 The Auditors of the Company M/s. S P C M & Associates (Firm
 Registration No. 112165W), Chartered Accountants, Pune (Formerly known
 as Bora Kasat & Co.) retire at the ensuing Annual General Meeting. They
 have confirmed their eligibility and willingness to accept appointment,
 if re-appointed. Your Directors recommend their re- appointment.
 
 Human Resources
 
 Your Company has always considered employees as assets for the
 organization. The Company endeavors to encourage innovation and
 meritocracy and hence, (HR) policies and practices are constantly
 reviewed to keep abreast with the market changes and your Company has
 also embarked upon several initiatives to focus on creating a positive
 work environment that provides employees with ample growth and
 development opportunities as well as ensuring high levels of motivation
 and commitment.
 
 The Top Management with their clear vision, has set down strategic
 business goals for the entire organization.  Thus, to achieve this we
 have restructured the organization, i.e. we have introduced SBU
 (Strategic Business Unit) Structure to carry out the operations
 geographically, wherein each SBU has its own business goals and clear
 set of roles and responsibilities.
 
 We have also set up scalable recruitment, performance appraisal system,
 training and development for organization development and we also offer
 them stock options which enable us to attract and retain high caliber
 employees.  One of the most important objective of the organization is;
 growth of its employees.
 
 To bring in new talent in our organization we have also started
 recruiting management trainees from renowned management institutes.
 This new talent brings in new ideas and out of the box thinking and
 helps us rise above the traditional mindset.
 
 We at Kolte-Patil are continuously striving for employee satisfaction
 for better productivity.
 
 The total employees strength at group level, as on 31st March, 2011
 was 539 as compared to 360 in the previous year.
 
 Conservation of Energy, Technology absorption, Foreign Exchange
 Earnings and Outgo
 
 A statement giving information of Conservation of Energy, Technology
 absorption, Foreign Exchange Earnings and Outgo as required under
 Section 217 (1) (e) of the Companies Act, 1956 read with the Companies
 (Disclosure of Particulars in the Report of Board of Directors) Rules,
 1988 is annexed hereto as Annexure I and it forms a part of this
 Report.
 
 Particulars of the Employees
 
 A statement required under Section 217 (2A) of the Companies Act, 1956
 has been furnished herein as Annexure II and forms a part of this
 Report.
 
 Management Discussion and Analysis Report
 
 Management Discussion and Analysis Report as stipulated under Clause 49
 of the Listing Agreement is annexed hereto and forms a part of this
 Report.
 
 Report on Corporate Governance
 
 Your Directors adhere to the requirements set out in Clause 49 of the
 Listing Agreements with the Stock Exchanges.  Report on Corporate
 Governance as stipulated in the said Clause is annexed and forms a part
 of this Report.
 
 Acknowledgments
 
 The Directors would like to express their appreciation for the
 assistance and co-operation received from Customers, Fixed Deposit
 Holders, Vendors, Stakeholders, Central and State Government
 Authorities, Business Associates, and Bankers of the Company. Your
 Directors take this opportunity to thank all the employees for
 rendering high quality service to all the Companys Customers. The
 employees have worked with the principles of honesty, integrity, fair
 play and helped ensure a sustained excellence in performance of the
 Company. Finally, the Directors would like to convey their gratitude to
 the members and look forward to their continued support in future.
 
 
 
 
                                      For and on Behalf of the Board
 
                                             Rajesh Patil
 
                                      Chairman and Managing Director
 
 Place: Pune
 
 Date: May 30, 2011