Kolte-Patil, a Pune-based developer, plans to launch multiple projects in Mumbai, Pune, and Bangalore in FY 2024-25. The tally is estimated to be Rs. 9,000 crore in the financial year 2024-25. According to sources, the company aims to expand its presence in micro-markets with high investment aptitudes. The launching of new projects in multiple cities will boost the share price of Kolte-Patil developers.
At present the valuation of Kolte-Patil’s ongoing projects stands at Rs. 25,000 crore. With a presence in Pune and Mumbai, the current development is taking place at 33.5 million sq. ft. Only in Pune city, the developer plans to launch a real estate inventory of Rs. 6, 4000 crore.
The Pune-based developer focuses on micro-markets in the cultural capital of Maharashtra, Pune. Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi, and NIBM Road are the focus locations for Kolte-Patil. The ascending footfall of IT parks, employment hubs, and social infrastructure make these areas perfect residential premises.
According to the company statement, 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.
Going along it aligns with the vision of the Kolte-Patil developer. The company aims to achieve a sales target of more than Rs. 3,500 crore in FY 2025. Followed by Rs. 4,500 crore in the next fiscal year FY 2026.
Lately, in 2022, Kolte-Patil collaborated with Marubeni-Corporation, a Japan-based company. In this upcoming project in the Nilakh micro-market, the company invested Rs. 206.5 crore. Following it, Kolte-Patil developers signed a second agreement with the Japan-based company of Rs. 110.9 crore. The project lies in Mumbai’s Kalina locality, a real estate micro-market.
Rahul Talele, Group CEO of Kolte-Patil Developers Limited, said, “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 FY24 stands as a pinnacle of our commitment to excellence.”
He further 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 (GDVR) potential of ₹25,000 crore.”
Established in 1991, the company has a strong presence in Pune, Mumbai and Bangalore. By far, the company has developed more than 50 projects. They include residential, commercial, integrated townships, and IT Parks. In total saleable area in Mumbai, Pune, and Bengaluru is 26 million square feet. The developer also bagged redevelopment projects in the Mumbai-Metropolitan Region (MMR).
Rahul Talele, Group CEO, Kolte-Patil Developers Limited, said, “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.”
In 2013, the company stepped into Mumbai’s property market with the aim of redevelopment societies with lower capital intensity. The company has signed 15 projects (two completed, five on going, eight future projects) to date at prime locations across the city.
