Kolte-Patil Developers, a real estate developer, recently announced plans to construct a residential housing project on 25 acres in Kiwale, Pune. For the project, it purchased Sampada Realities, a company based in Pune, which is the owner of the land parcel with a potential for 2.5 million square feet of residential development. Rahul Talele, Group CEO of Kolte-Patil Developers, stated that the project has all necessary regulatory approvals in place and that it represents a revenue potential for Kolte-Patil of over 1,400 crore. The acquisition will help Kolte-market Patil’s position in Pune become even stronger.
This acquisition fits with the company’s 7,000 crore business development target for the current fiscal year, and moving forward, it will continue to assess additional opportunities to meet its growth goals in Pune, Mumbai, and Bengaluru. According to him, the company has created over 50 projects, including residential communities, integrated townships, businesses, and IT parks, totaling about 23 million square feet of saleable space across Pune, Mumbai, and Bengaluru.
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Construction, Infrastructure and Mining
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