Pune, February 13, 2024: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune based real estate player with growing presence in Mumbai and Bengaluru, has announced an ambitious plan to launch projects totalling ~INR 9,000 crore over the next 14 months across Pune, Mumbai, and Bengaluru. This strategic move is a crucial part of Kolte-Patil Developers’ ongoing initiatives aimed at strengthening its presence in high-potential micro-markets and augmenting its market share.
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 INR 6,400 crore. The residential market in Pune continues to thrive, supported by continuous infrastructure enhancements and heightened economic activities. The city’s growth is attributed to resilient urban infrastructure, high quality of life index, a reasonable cost of living, and a rising per capita income fuelled by robust employment opportunities across various sectors. KPDL’s forthcoming projects are strategically 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 ~ INR 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 INR 3,500 crore in FY25 and approximately INR 4,500 crore in FY26.
In November 2022, Kolte-Patil Developers announced a collaboration with Marubeni Corporation, Japan, securing an investment of INR 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 INR 110.9 crore in the Kalina micro-market, Mumbai. These partnerships underscore Kolte-Patil Developers’ commitment to strategic collaborations for robust growth while maintaining financial prudence, positioning the company for continued success in the dynamic real estate landscape.
Rahul Talele, Group CEO, Kolte-Patil Developers Limited 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 (GDV) potential of ~INR 25,000 crore. 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.
Furthermore, the recent achievements consist of securing two redevelopment projects in MMR region, with an anticipated top-line potential of approximately INR 545 crore. It is in line with our continuous endeavours to fortify presence in the city. 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.”
Benefiting from the strategic investments in technology, Kolte-Patil ensures expeditious construction, data-driven decision-making, and an integrated omni-channel experience. This underscores its commitment to delighting customers through punctual delivery and flawless execution. Responding to the increasing demand for quality developers, the brand utilizes its robust market position and nurtured customer relationships to deliver value across the entire stakeholder ecosystem. The tri-city company is on the track to achieve its diversification objectives through meticulous planning, encompassing new launches and projects across key markets of Pune, Mumbai, and Bengaluru.