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Company news: Kolte-Patil Developers

| Updated on July 04, 2019 Published on July 04, 2019

Kolte-Patil Developers has signed three new projects in Pune under the development management (DM) model. The projects are strategically located at Wagholi in East Pune and Kiwale and Ravet in West Pune and have saleable potential of about 1.2 million square feet. As the development manager, Kolte-Patil will lend its brand to these projects and jointly collaborate with the landowners to oversee product design, sales and marketing, project quality and cash flow management leading to time-bound handover to buyers. The company expects to earn DM fees of ₹60-65 crore from these projects over a period of 30-36 months. The project costs would continue to be borne by the respective projects. Shares of Kolte-Patil jumped 5.9 per cent at ₹232.80 on the BSE.

Published on July 04, 2019
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