Kolte-Patil Developers bags 2 society redevelopment projects in Mumbai

Kolte-Patil Developers Ltd, a real estate company, has been awarded two society redevelopment projects in Mumbai and anticipates sales of Rs 950 crore.

According to a report of PTI, In a regulatory filing, the Pune-based company informed that it has signed two new society re-development projects in the Western suburbs of Mumbai. With total saleable area of around 4.8 lakh square feet, these projects have a total topline potential of around Rs 950 crore, it added.

These new additions signify the company's strategic move towards diversification beyond Pune, strengthening its presence in Mumbai Metropolitan Region (MMR) and taking forward the strong momentum in FY24. Both these projects are strategically located in the high potential micro-market of Bangur Nagar in Goregaon (West) and bring the company's tally of projects in the Mumbai Metropolitan Region (MMR) to 14 projects, it added. 

With the two new additions in MMR, the new business development deals now aggregate a topline potential of Rs 3,450 crore. The company is continuously assessing multiple business development and expansion prospects in its targeted markets through innovative, capital-efficient deals, Kolte-Patil said.