Pune based Real estate developer Kolte-Patil Developers Limited is all set to launch projects totaling Rs.9,000 crore over the next 14 months across Pune, Mumbai, and Bengaluru. They want to expand their presence in high-potential micro-markets and augmenting market share, the company said in a statement.
The next project which will be launched in Pune is worth of Rs.6,400 crore. Their upcoming projects are targeting to micro markets such as Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road in Pune. In an official statement, the company said that, these micro-markets have quickly gained popularity as preferred residential destinations due to their proximity to industrial zones, excellent connectivity, and well-established social infrastructure.
Moreover, Mumbai's launch potential is projected to reach around Rs. 2,500 crore by FY25. The company embarks on the expanding their presence in real estate sector with 15 redevelopment projects in Mumbai (2 completed, 5 ongoing, and 8 planned), sales distribution of 70% from the Pune market, with Mumbai and Bengaluru collectively contributing approximately 30% by FY25.
The projects blend well with Kolte-Patil's diversification goal. The sales guidance targets over Rs.3,500 crore in FY25 and approximately Rs.4,500 crore.
Previously, in November 2022, Kolte-Patil Developers signed a deal of collaboration with Marubeni Corporation, Japan, securing an investment of Rs.206.5 crore for KPDL's residential project in the Pimple Nilakh micro-market, Pune.
These partnerships underscore Kolte-Patil Developers' commitment to strategic collaborations for robust growth while maintaining financial prudence, positioning the company for continued success in the dynamic real estate landscape.
The Group CEO of Kolte-Patil Developers Limited, Rahul Talele, said that, their dedication to 'Creation, not construction' defines a unique approach, transforming structures into landmarks that significantly elevate lives. Their track record represents the development of over 26 million sq.ft, and our current projects span 33.5 million sq.ft with a strong Gross Development Value (GDV) potential of Rs.25,000 crore. the remarkable success of their residential project, Life Republic in Pune, is a testament to their focus on quality and adaptability to market demands. They have achieved a pre-sales figure of 1.7 million sq. at the Life Republic township project in 9MFY24, which is reflecting their commitment to excellence.
The company has secured two redevelopment projects in MMR region, with an anticipated top-line potential of approximately Rs.545 crore. It is in line with the company’s continuous endeavors to fortify presence in the city.
Rahul Talele also quoted, “These projects seamlessly align with our overarching objectives, amplifying the impact of strategic initiatives in society redevelopment. As we forge ahead, our efforts will undoubtedly solidify our distinguished position in our key geographies of Pune, MMR market and Bengaluru, setting new benchmarks and reinforcing Kolte-Patil Developers as an industry leader.”
Kolte-Patil Developers has already developed and constructed over 58 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of more than 26 million square feet across Pune, Mumbai and Bengaluru. They have signed 15 projects (two completed, five on going, eight future projects) till date at prime locations across the city.
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