Kolte-Patil Teams with Landowner for Major Pune Project

Kolte-Patil Developers Ltd has partnered with a landowner to develop a 1.1 million sq ft housing project in Pune, valued at Rs 850 crore. The joint development deal marks a significant step for the realty firm, which operates in Pune, Mumbai, and Bengaluru.

Pune-based real estate firm Kolte-Patil Developers Ltd has entered a significant partnership with a landowner to embark on a housing project in Pune, boasting an estimated revenue potential of Rs 850 crore.

In a filing with regulatory authorities on Wednesday, the company revealed it has formalized a joint development agreement for an expansive 1.1 million square feet residential project located in Bhugaon, Pune. This venture carries an expected Gross Developable Value (GDV) of approximately Rs 850 crore, a metric representing the project's overall sales potential.

Despite revealing substantial details about the development, Kolte-Patil Developers Ltd has kept the identity of the collaborating landowner under wraps. Established in 1991, the company is recognized for its prominent presence in key Indian cities, including Pune, Mumbai, and Bengaluru.

(With inputs from agencies.)