January 24, 2024: Pune-based Kolte-Patil Developers with growing presence in Mumbai and Bengaluru, has signed two new society re-development projects in the western suburbs of Mumbai with total saleable area of 3.06 lakh square foot (sqft) translating into top-line potential of Rs 545 crore. The two acquired projects are located in Dahisar and Versova. With these additions, the company now has of a total of fifteen projects in the Mumbai Metropolitan Region (MMR).
The Dahisar project has a saleable area of 2.13 lakh sqft with a top line potential of Rs 325 crore. It is well-connected to the Western Express Highway and to the metro connecting via Andheri. Previously, Kolte Patil has executed the residential re-development project, Vaayu in Dahisar.
The Versova project has a saleable area of 0.93 lakh sqft with a top line potential of Rs 220 crore. It has access to rapidly expanding public infrastructure including the metro lines and the proposed Versova-Virar Sea Link which will provide coastal road connectivity between South Mumbai and Western suburbs.
Rahul Talele, group CEO, Kolte-Patil Developers said, “I am happy to announce the addition of two new society redevelopment projects in the western suburbs of Mumbai. These projects align with our strategic goals and we are confident that our active initiatives and growing presence in society re-development space will continue to enhance our standing in the MMR market in a significant manner.
During the year FY24 till date, the company has successfully acquired eight projects, comprising two in Pune and six in MMR, with a combined total development potential of 3.3 msf and a topline potential of Rs 4,000 crore.
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