Moneycontrol Bureau
Shares of Kolte-Patil Developers fell 2 percent intraday Friday as its chief executive officer Sujay Kalele has resigned.
The Pune-based real estate developer says Kalele will continue in executive position till December 31, 2015 and will be associated with the company in an advisory role till March 31, 2016.
He has been working in the company for last six years.
Meanwhile, the company's profit increased 3.7 percent year-on-year to Rs 13 crore in Q2FY16 but revenue declined 1.8 percent to Rs 155 crore. It recorded 0.46 million square feet of pre-sales during the quarter with a 7 percent year-on-year increase in realisations to Rs 6,174 per square feet.
At 14:32 hours IST, the scrip of Kolte-Patil Developers was quoting at Rs 157, down Rs 2.55, or 1.60 percent amid high volumes on the BSE.Posted by Sunil Shankar Matkar
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