Kolte-Patil intends to start real estate projects in Bengaluru, Pune, and Mumbai valued at ?9,000 crore

By Bricksnwall | 2024-02-15

The 33.5 million square feet of ongoing projects by Kolte-Patil have a potential gross development value (GDV) of ₹25,000 crore.

Kolte-Patil Developers Limited, a real estate developer located in Pune, intends to start projects in Bengaluru, Mumbai, and Pune worth a combined ₹9,000 crore over the course of the next 14 months. According to a statement from the company, this is intended to increase market share and solidify the company's position in high-potential micro markets.

Future developments by KPDL are situated in micro markets in Pune such as NIBM Road, Kiwale, Pimple Nilakh, Baner, Kharadi, and Hinjewadi. According to a statement from the company, these micro-markets have quickly become well-liked residential locations because of their close proximity to industrial zones, good connectivity, and established social infrastructure.

By FY25, Mumbai's launch potential is anticipated to be approximately ₹2,500 crore. With 15 rehabilitation projects in Mumbai (2 finished, 5 in progress, and 8 planned), the company projected that by FY25, 70% of sales would come from the Pune market, with Bengaluru and Mumbai together accounting for about 30% of total sales.

This aligns with the goal of diversification set forward by Kolte-Patil. As stated by the company. the sales projection is expected to exceed ₹3,500 crore in FY25 and over ₹4,500 crore in FY26.

Kolte-Patil Developers stated in November 2022 that they will be working with Marubeni Corporation, a Japanese company, to secure ₹206.5 crore in funding for KPDL's residential project in Pune's Pimple Nilakh micro-market.

Later, in November 2023, Kolte-Patil and Marubeni Corporation signed a second contract for a project valued at ₹110.9 crores in Mumbai's Kalina micromarket. According to the company, these alliances highlight Kolte-Patil Developers' dedication to calculated partnerships for strong growth while upholding financial responsibility, setting the business up for long-term success in the ever-changing real estate market.

Our commitment to 'Creation, not Construction' establishes a distinctive methodology, converting buildings into iconic icons that profoundly improve lives. Our ability to build more than 26 million square feet is evidenced by our track record, and the 33.5 million square feet of projects we now have under development have a significant Gross Development Value (GDV) potential of ₹25,000 crore.

The tremendous success of our flagship project, Life Republic in Pune, is evidence of our dedication to quality and adaptability in the face of market needs. "Achieving a pre-sales figure of 1.7 million sq.ft. at the Life Republic township project in 9MFY24 stands as a pinnacle of our commitment to excellence," said Rahul Talele, Group CEO of Kolte-Patil Developers Limited.

Source: Hindustan Times