Kolte-Patil Developers has signed two new society re-development projects in the western suburbs of Mumbai with total saleable area of ~3.06 lakh square feet translating into top-line potential of ~Rs 545 crore. The two acquired projects are in prime residential areas, Dahisar and Versova, in line with the company’s growth and diversification goals of expanding presence in Mumbai. With these additions, the company now has of a total of fifteen projects in the Mumbai Metropolitan Region (MMR), addressing a wide spectrum of real estate demand in the city
The Dahisar project is well connected to the Western Express highway. Further, the close proximity to the metro connecting via Andheri and its further expansion to the BKC add to the attractiveness of the project. The company has demonstrated success in the Dahisar micro- market following the execution of its residential re-development project, Vaayu.
The Versova project has strong demand potential and 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, “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, it acquired eight projects, comprising two in Pune and six in MMR, with a combined total development potential of 3.3 million square feet and a topline potential of ~Rs 4,000 crore.
