Kolte-Patil Developers Limited has signed two new society re-development projects in the Western suburbs of Mumbai. With total saleable area of ~0.48 Million sq. ft., these projects have a total topline potential of ~INR 9,500 Million.

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. Bangur Nagar is an established residential neighborhood that boasts excellent connectivity to different areas within Mumbai, close proximity to the corporate hub in Malad and a well-developed social infrastructure.

The Company has demonstrated success in this micro-market with its residential redevelopment project, Verve, encompassing a saleable area of ~0.277 Million sq. ft. This project has been completely sold out, achieving sales value of ~INR 4,950 Million.

In April-May 2023, the Company announced acquisition of four projects, two in Pune and two in Mumbai, with the total development potential of ~2.6 million sq. ft. and topline potential of INR 25,000 Million.

With the two new additions in MMR, the new business development deals now aggregate a topline potential of ~INR 34,500 Million. The company is continuously assessing multiple business development and expansion prospects in its targeted markets through innovative, capital-efficient deals.