2.5 million Sq.ft of saleable area in Kiwale, Pune with Rs 1400 Cr topline potential ; Project to be launched in the coming quarter

Pune based real estate developer Kolte-Patil Developers Limited has 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.
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 transaction entails immediate acquisition of 85% equity shares in Sampada Realty. The balance 15% stake will be acquired in due course. With this transaction, Kolte-Patil has committed an aggregate total investment of Rs 120 Cr 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 Rs 1,400 Cr 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.
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 Rs 7,000 crs for this year.”