Kolte-Patil shines on completion of Margosa Heights project in Pune

20 Sep 2016 Evaluate

Kolte Patil Developers is currently trading at Rs. 129.55, up by 9.05 points or 7.51% from its previous closing of Rs. 120.50 on the BSE.

The scrip opened at Rs. 121.20 and has touched a high and low of Rs. 134.25 and Rs. 120.05 respectively. So far 150432 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 186.80 on 12-Oct-2015 and a 52 week low of Rs. 96.00 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 134.25 and Rs. 119.00 respectively. The current market cap of the company is Rs. 985.07 crore.

The promoters holding in the company stood at 74.54%, while Institutions and Non-Institutions held 11.86% and 13.61% respectively.

Kolte-Patil Developers has completed its Margosa Heights project in Pune, generating an IRR of 36% and a money multiple of 3.1 times for itself and its JV partner, Portman Holdings, USA. The project is part of an SPV called Bellflower properties, which is a 50% JV with Portman. This investment was the first residential investment for the Atlanta based full service real estate company, which has a significant presence in India.

Margosa Heights includes 20 mid-rise apartment towers along with support retail located at Mohammadwadi, a suburb in south Pune. The development's total area is 1 million square feet. This project sets a unique example of an Indian & an International developer/Investor working in partnership on various aspects of the project to deliver a good product & achieve high profitability.

Kolte-Patil Developers is a leading real estate company with dominant presence in the Pune residential market. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of over 12 million square feet across Pune and Bengaluru. 

 

Kolte-Patil Develop. Share Price

469.00 -10.65 (-2.22%)
28-May-2024 15:46 View Price Chart
Peers
Company Name CMP
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DLF 818.80
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