Page 153 - Kolte Patil AR 2019-20

Notes forming part of the standalone financial statements

NOTE 26 - REVENUE FROM OPERATIONS (H in Lakhs)

As at As at
Particulars
March 31, 2020 March 31, 2019
(a) Sale of properties/flats (residential and commercial) 68,818 44,988
(b) Sale of land - 1,216
(c) Project management fees 491 371
(d) Other operating revenues
- Profit / (loss) from partnership firms (net) (123) (359)
- Profit / (loss) from limited liability partnerships (net) 2,040 (79)
Total 71,226 46,137

NOTE 26 A - SHARE OF PROFIT/(LOSS) FROM PARTNERSHIP FIRMS & LIMITED LIABILITY PARTNERSHIPS (H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
1. Ankit Enterprises (121) (357)
2. Kolte-Patil Homes (2) (3)
3. KP-Rachana Real Estate LLP 509 301
4. Bouvardia Developers LLP (1) (1)
5. KP-SK Project Management LLP 0 (251)
6. Carnation Landmarks LLP 1534 (124)
7. Regenesis Project Management LLP (2) (3)
Total 1,917 (438)

NOTE 26 B - SALE OF PROPERTIES/FLATS (RESIDENTIAL AND COMMERCIAL)
(1) Contract Balances
(a) Amounts received before the related performance obligation is satisfied are included in the balance sheet (Contract
liability) as “Advances received from Customers” in note no. 24 - Other Current Liabilities. Amounts billed but not yet paid
by the customer after giving possession/ deemed possession are included in the balance sheet under trade receivables
in note no. 12.
(b) There were no significant changes in the composition of the contract liabilities and Trade receivable during the reporting
period other than on account of periodic invoicing and revenue recognition.
(c) Amounts previously recorded as contract liabilities increased due to further milestone based invoices raised during the
year and decreased due to revenue recognised during the year on completion of the construction.
(d) Amounts previously recorded as Trade receivables increased due to invoices raised during the year on account of
possession/ deemed possession given to customers and decreased due to collections during the year.
(e) There are no contract assets outstanding at the end of the year.
(2) Reconciliation of revenue recognised with the contracted price is as follows:

Fort the year ended Fort the year ended
Particulars
March 31,2020 March 31,2019
Contracted Price 69,116 45,416
Adjustments on account of cash discounts or early payments rebates,etc 298 428
Revenue Recognised as per the statement of Profit & Loss 68,818 44,988

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