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Thursday, July 25, 2024

Kolte-Patil Developers Unveils Ambitious Plans for Rs 9,000 Crore Project Launch

Kolte-Patil Developers has ambitious plans to launch projects totaling Rs 9,000 crore over the next 14 months, focusing on Pune, Mumbai, and Bengaluru. In Pune, the company aims to launch projects valued at around Rs 6,400 crore, targeting micro-markets such as Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road.

For Mumbai, the projected launch potential is approximately Rs 2,500 crore by FY25. The company has 15 redevelopment projects in Mumbai, with completed, ongoing, and planned developments. Sales distribution is expected to be 70% from the Pune market, while Mumbai and Bengaluru together are projected to contribute around 30% by FY25.

The company’s sales guidance targets are set at over Rs 3,500 crore in FY25 and approximately Rs 4,500 crore in FY26. In November 2022, Kolte-Patil Developers announced a collaboration with Marubeni Corporation, Japan, securing a significant investment of Rs 206.5 crore for its residential project in the Pimple Nilakh micro-market in Pune.

Following this, in November 2023, a second agreement with Marubeni Corporation was made for a project worth Rs 110.9 crore in the Kalina micro-market, Mumbai. Rahul Talele, the group CEO, highlighted the company’s track record, having developed over 26 million sq.ft and ongoing projects covering 33.5 million sq.ft with a strong Gross Development Value (GDV) potential of Rs 25,000 crore.

Recently, Kolte-Patil Developers secured two redevelopment projects in the MMR region, anticipating a top-line potential of approximately Rs 545 crore.

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