Acquisitions & Mergers

Kolte-Patil acquires two society redevelopment projects in Mumbai’s Dahisar and Versova with topline potential of ~Rs 545 crore

By - 23 Jan 2024 08:17 PM

Kolte-Patil Developers Limited has signed two new society redevelopment 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. Kolte-Patil Developers Limited, a Pune based real estate player with growing presence in Mumbai and Bengaluru, on Tuesday announced that it has signed two new society redevelopment 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 at strategic locations in prime residential areas, Dahisar and Versova. With these additions, the company now has a total of fifteen projects in the Mumbai Metropolitan Region (MMR).
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 redevelopment 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 Ltd, said, “I am happy to announce the addition of two new society redevelopment projects in the western suburbs of Mumbai. This marks another significant milestone in our journey to strengthen our presence in Mumbai that represents the largest real estate market in the country. These projects align with our strategic goals and we are confident that our active initiatives and growing presence in the society redevelopment space will continue to enhance our standing in the MMR market in a significant manner.”