Kolte-Patil Developers Limited has recently entered into a joint development agreement for a 22-acre residential and mixed-use project in Wadgaon Khurd, Pune, with an estimated Gross Developable Value of ₹4,000 crore. The company’s shares were trading at ₹301, down by ₹5.55 or 1.81 per cent on the NSE as the market approached closing time.
The project, located within the Pune Municipal Corporation limits, is expected to offer a total saleable area of around 5 million square feet. Situated in South-West Pune, the site provides views of the Mutha River to the north and is surrounded by a garden reservation to the south.
Yash Patil, Joint Managing Director of the company, expressed the company’s goal to expand its presence in key micro-markets through strategic partnerships and capital-efficient structures. Atul Bohra, Group CEO, highlighted the strategic location of the development and its close proximity to essential social infrastructure.
The land parcel boasts connectivity to CBD Pune and the West-Pune zone, with schools, hospitals, shopping malls, and entertainment facilities all within a 2-kilometer radius. Moreover, the project will be enhanced by a proposed 90-meter ring road adjacent to park reservations to the west.
Established in 1991, Kolte-Patil has undertaken over 64 projects encompassing more than 28 million square feet across Pune, Mumbai, and Bengaluru. The company markets its projects under two main brands: ‘KoltePatil’ for mid-income segments and ’24K’ for premium luxury segments.
The article was originally published on February 7, 2025.
