Kolte-Patil announces Rs 9,000 crore project launches by FY25

Kolte-Patil Developers has announced plans to launch projects totalling ~Rs 9,000 crore over the next 14 months across Pune, Mumbai, and Bengaluru. End Quote

(1888PressRelease) February 19, 2024 - In particular, Kolte-Patil has significantly bolstered its footprint in key operating regions, with a notable focus on Pune. The upcoming project launches in Pune alone account for approximately Rs 6,400 crore. 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.

Meanwhile, Mumbai’s launch potential is projected to reach around ~ Rs 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. This aligns with Kolte-Patil’s diversification goal. The sales guidance targets 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 an investment of Rs 206.5 crore for KPDL’s residential project in the Pimple Nilakh micro-market, Pune. Subsequently, Kolte-Patil entered into a second agreement with Marubeni Corporation in November 2023 for a project worth Rs 110.9 crore in the Kalina micro-market, Mumbai.

Rahul Talele, group CEO, Kolte-Patil Developers, said, “Our dedication to ‘Creation, not construction’ defines a unique approach, transforming structures into landmarks that significantly elevate lives. 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 an unprecedented 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.”

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