Kolte-Patil plans to launch real estate projects worth ₹9,000 crore by FY25 - Hindustan Times

Kolte-Patil plans to launch real estate projects worth 9,000 crore by FY25 in Pune, Mumbai, and Bengaluru

Feb 14, 2024 03:40 PM IST

Kolte-Patil's ongoing projects span 33.5 million sq ft with a Gross Development Value (GDV) potential of ₹25,000 crore

Pune-based real estate developer, Kolte-Patil Developers Limited, plans to launch projects totaling 9,000 crore over the next 14 months across Pune, Mumbai, and Bengaluru. This is aimed at strengthening the company's presence in high-potential micro-markets and augmenting market share, the company said in a statement.

Pune-based real estate developer, Kolte-Patil Developers Limited, plans to launch projects totalling <span class='webrupee'>₹</span>9,000 crore over the next 14 months
Pune-based real estate developer, Kolte-Patil Developers Limited, plans to launch projects totalling 9,000 crore over the next 14 months

The upcoming project launches in Pune account for approximately 6,400 crore.

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KPDL's forthcoming projects are positioned in micro-markets like Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road in Pune. These micro-markets have swiftly gained popularity as preferred residential destinations due to their proximity to industrial zones, excellent connectivity, and well-established social infrastructure, the company said in a statement.

Meanwhile, Mumbai's launch potential is projected to reach around 2,500 crore by FY25. With 15 redevelopment projects in Mumbai (2 completed, 5 ongoing, and 8 planned), the company envisions sales distribution of 70% from the Pune market, with Mumbai and Bengaluru collectively contributing approximately 30% by FY25, it said.

This aligns with Kolte-Patil's diversification goal. The sales guidance targets over 3,500 crore in FY25 and approximately 4,500 crore in FY26, the company said.

In November 2022, Kolte-Patil Developers announced a collaboration with Marubeni Corporation, Japan, securing an investment of 206.5 crore for KPDL's residential project in the Pimple Nilakh micro-market, Pune.

Also Read: Kolte-Patil acquires two housing society redevelopment projects, expands footprint in Mumbai Metropolitan Region

Subsequently, Kolte-Patil entered into a second agreement with Marubeni Corporation in November 2023 for a project worth 110.9 crore in the Kalina micro-market, Mumbai. 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 company said.

“Our dedication to 'Creation, not construction' defines a unique approach, transforming structures into landmarks that significantly elevate lives. Demonstrating our prowess, our 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 25,000 crore.

Also Read: Registration of properties in Pune up by 10% in 2023 amid higher demand: Report

"The resounding success of our flagship project, Life Republic in Pune, is a testament to our focus on quality and adaptability to market demands. 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, Kolte-Patil Developers Limited.

Redevelopment projects in MMR

The company has secured two redevelopment projects in MMR region, with an anticipated top-line potential of approximately 545 crore. It is in line with the company’s continuous endeavors to fortify presence in the city.

“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,” he said.

Also Read: WiseX offers fractional ownership of 80 crore commercial property in Pune

Kolte-Patil Developers Ltd was incorporated in 1991 and has a dominant presence in the Pune residential market, and growing presence in Mumbai and Bengaluru. The company has 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.

The company forayed into the Mumbai market in 2013 focusing on society redevelopment projects that have lower capital intensity. The company has signed 15 projects (two completed, five on going, eight future projects) till date at prime locations across the city.

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