Press Release – Kolte-Patil signs three new projects in Pune under capital light models

  • Madan Agarwal by Madan Agarwal
  • 3 years ago
  • 0

Press Release – Kolte-Patil signs three new projects with a combined

saleable area of ~2.2 msf in Pune under capital-light models

Expected Total Topline of ~Rs. 1,500 crore and KPDL PBT of ~Rs. 220 cr

Pune, February 02, 2021: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a
leading Pune based real estate developer, with a growing presence in Mumbai and Bengaluru, today
announced the signing of three new projects in Pune under various capital-light models.

Kolte-Patil has established itself as one of the most preferred and trusted brands for customers and
channel partners in Pune with continued success across micro-markets under various economic cycles.

These new projects will further strengthen the Company’s market position in the Pune market.

All the three locations of the new projects are established micro-markets within Pune and are strategically located
with multiple schools, hospitals, retail and residential spaces in close proximity.

  1. Baner – 7.5 acres – Approx. 1.33mn sqft. of the saleable area – Mixed-Use – Revenue Share
  2. Moshi – 7.9 acres – Approx. 0.63mn sqft. of the saleable area – Residential – Profit Share
  3. Wagholi – 2.3 acres – Approx. 0.25 sqft. of the saleable area – Residential – Profit Share

Commenting on this key development, Mr. Gopal Sarda, Group CEO, Kolte-Patil Developers
Ltd. said,

“We are excited to add these projects in Pune to our portfolio under revenue share and profit

share structures. The refundable deposits involved in these deals are quite nominal especially compared

with the profitability upside available. This is in line with our strategy of reinforcing our dominant position

in the Pune market with capital-light and structured transactions.

We are happy with the progress we have made w.r.t. business development since the lockdown started.

The pandemic has resulted in the rationalization of expectations from the real estate ecosystem enabling

capital-light business development opportunities with healthy returns. Given our strong brand name and

execution capabilities, an increasing number of landowners and developers are keen to associate with us

at fair terms making it a win-win situation for all stakeholders. We are looking forward to announcing

meaningful (both in terms of area and value) additions to our portfolio across Pune, Bengaluru and

Mumbai. Structured transactions with a low debt balance sheet like KPDL’s ensure profitable, scalable, and

sustainable growth, positive operating cash flows, and healthy ROCE and IRR.”

About Kolte-Patil Developers Limited

Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL; KPDL), incorporated in 1991, is a leading real estate
company with a dominant presence in the Pune residential market, and a 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 for delivery of projects in a timely manner.

The company has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes, and IT Parks covering a saleable area of ~20 million square feet across Pune, Mumbai, and Bengaluru.

Several of the company’s projects have been certified by the Indian Green Building Council (IGBC). 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 low
capital intensive society re-development projects.

The company signed ten projects (two completed, three nearing launches, five future projects) to 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
The company’s long-term bank debt and non-convertible debentures have been rated ‘A+ / Stable’ by CRISIL, the highest rating accorded by CRISIL to any publicly listed residential real estate player in India.

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, and ICICI Ventures.

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.

For more details on Kolte-Patil Developers Ltd., visit www.koltepatil.com.

Source: KPDL signs three new projects with a combined saleable area of 2.2 msf in Pune

Source: Kolte-Patil signs three new projects in Pune

 

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