Kolte-Patil Developers (KPDL), a Pune-based builder has signed two new residential development projects with a total estimated saleable area of 1.9 million sq ft a top-line potential of Rs 1,300 crore in Pune.
These projects are located in Wagholi (Nagar Road) and NIBM Road (Kondhwa). In Wagholi, the company acquired about five acres land having as estimated developable potential of approximately 7.5 lakh sq ft and revenue potential of about Rs 400 crore.
“In a significant development, we signed two new projects at attractive locations that allow deeper penetration in the high potential micro markets of Pune. This aligns with our objective of driving growth across markets while maintaining low capital intensity, with a view of optimizing return on capital,” said Rahul Talele, group CEO of the company.
KDPL entered into a joint venture project at NIBM Road for the project which has an estimated developable potential of about 11.5 lakh sq ft and revenue potential of Rs 900 crore.
The company recently signed two society redevelopment projects in the Mumbai Metropolitan Region with total saleable area of 7.3 lakh sq ft translating into top-line potential of Rs 1,200 crore. These two projects are located in Mulund-West in Mumbai and Vashi in Navi Mumbai.