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Mumbai May 15 The NYSE Euronext-listed Yatra Capital Ltd has tied up with Pune-based real estate promoter Kolte Patil Developers Ltd for developing three properties.

The India-focussed investment company will pick up 49 per cent stake in the joint venture, totalling € 21.6 million. The joint venture will initially build three residential projects of about 2.9 million sq ft spread over 78 acres in Pune.

Sir Nigel Broomfield, Chairman, Yatra Capital Ltd, said, "We are very pleased to announce our first investment in India which is a joint venture with Kolte Patil Developers."

Mr Rajesh Patil, Chairman and Managing Director, Kolte Patil Developers Ltd, said, "We are looking forward to working closely with Yatra Capital Ltd to develop several projects within Pune and other cities."

More Stories on : Alliances & Joint Ventures | Real Estate & Construction | Maharashtra

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