February 14, 2024: Pune-based real estate company Kolte-Patil Developers has announced its plan to launch projects totalling around Rs 9,000 crore over the next 14 months across Pune, Mumbai and Bangalore, according to an official release. The move is part of the developer’s ongoing initiatives aimed at strengthening its presence in high-potential micro-markets and augmenting its market share.
According to the developer, the upcoming project launches in Pune alone account for around Rs 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.
The developer’s upcoming projects are located in micro-markets such as Kiwale, Pimple Nilakh, Baner, Kharadi, Hinjewadi and NIBM Road in Pune. These micro-markets have become preferred residential destinations due to their proximity to industrial zones, excellent connectivity and well-established social infrastructure.
Mumbai’s launch potential is projected to reach around Rs 2,500 crore by FY25. With 15 redevelopment projects in Mumbai (two completed, five ongoing and eight planned), the company expects sales distribution of 70% from the Pune market, with Mumbai and Bangalore collectively contributing around 30% by FY25. The sales guidance targets over Rs 3,500 crore in FY25 and approximately Rs 4,500 crore in FY26, the release said.
Rahul Talele, group CEO Kolte-Patil Developers, 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 square foot (msf), and our current projects span 33.5 msf with a strong gross development value (GDV) potential of around Rs 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 msf at the Life Republic township project in 9MFY24 stands as a pinnacle of our commitment to excellence.
Furthermore, the recent achievements comprise of securing two redevelopment projects in Mumbai Metropolitan Region (MMR) region, with an anticipated top-line potential of approximately Rs 545 crore. These projects seamlessly align with our overarching objectives, amplifying the impact of strategic initiatives in society redevelopment.”
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