Project to be launched in the coming quarter
India, 12th August, 2022: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune based real estate developer, with growing presence in Mumbai and Bengaluru, today announced the acquisition of Pune based Sampada Realities Private Limited. Under this acquisition, Kolte-Patil has acquired residential development potential of ~2.5 Million Sq.ft. at Kiwale in Pune. The transaction entails the acquisition of ~ 85% Equity Shares in Sampada Realities on an immediate basis with the balance ~15% stake to be acquired in due course. With this transaction, Kolte-Patil has committed an aggregate total investment of ~ INR 120 crs to be paid over a period of time.
Sampada Realities Private Limited comprises of only one residential real estate project on ~ 25 acres of land parcel at Kiwale in Pune to be developed in a phased manner. The development represents a revenue opportunity of over ~ INR 1,400 crs for Kolte-Patil.
The project has all the required regulatory approvals in place. This acquisition will help further strengthen Kolte-Patil’s market position in Pune, with substantial visibility in Kiwale, a high-potential micro market in the city.
Commenting on the new business development, Mr. Rahul Talele, Group CEO, KoltePatil Developers Ltd. said, “We are happy to announce the addition of this new project, which will be 100% owned by Kolte-Patil. This acquisition, other than being situated at the strong micro market of west Pune, is a plug and play deal, and is in line with our business development target of INR 7,000 crs for this year. We continue to evaluate more such opportunities to meet our growth objectives across Pune, Mumbai and Bengaluru. We are focused on developing a diversified portfolio that benefits from the demand and locational drivers across multiple projects in our focus markets to create a diverse growth framework and drive value for all our stakeholders.”
Kiwale is strategically located at the junction of old NH4 Highway, Katraj-Dehu Road, and Mumbai-Pune Expressway, and provides seamless access to Hinjewadi IT Hub, Pune city and the industrial belt of northwestern Pune. The real estate industry is witnessing strong growth in this region and is expected to continue the momentum in subsequent years..
About Kolte-Patil Developers Limited
Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL; KPDL), incorporated in 1991, is a leading real estate company with dominant presence in the Pune residential market, and growing presence in Mumbai and Bengaluru. Kolte-Patil is a trusted name with a reputation for high quality standards, design uniqueness, corporate governance, transparency and timely delivery of projects. The company has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of ~23 million square feet across Pune, Mumbai and Bengaluru. The Indian Green Building Council (IGBC) has certified several of the company’s projects. KPDL markets its projects under two brands: ’Kolte-Patil’ (addressing the mid-income segment) and ‘24K’ (addressing the premium luxury segment).
Consolidating its leadership position in Pune, the company forayed into the Mumbai market in 2013 focusing on society re-development projects that have lower capital-intensity. The company signed ten projects (two completed, three recently launched, five future projects) till date at prime locations across the city.
KPDL has seamlessly navigated varied economic cycles enabled by one of the lowest debt levels in the sector. The Company’s long-term bank debt has been rated ‘A+ / Stable’ by CRISIL, one of the highest rating accorded by CRISIL to any publicly listed residential real estate player in India. In addition, the Company is also rated ‘ICRA A+/Positive’ by ICRA.
The Company’s growth trajectory, internal processes and corporate governance practices have benefitted from partnerships with marquee financial institutions like KKR, JP Morgan Asset Management, Portman Holdings, ASK Capital, Motilal Oswal, ICICI Ventures and Planet Smart City.
Over the years, KPDL has received multiple awards and recognitions including Asia’s Greatest Brand 2017 by AsiaOne, The Economic Times – The Game Changers of Maharashtra 2018, Times Realty Icons – Best Realtor 2019, CNN NEWS18 – Developer of the Year Residential 2019, ET Now – Most Trusted Brand India’s 2019, Top Challengers 2019-20 by Construction World Global Awards Online, Trusted Brand of the Year, Times Realty, 2021-22 and Residential High Rise Architecture India- 2021, Asia Pacific Property Awards (IPA).
For more details on Kolte-Patil Developers Ltd., visit www.koltepatil.com.