Kolte-Patil gains on exiting Sanjivani project located at Pune

01 Jan 2018

Kolte-Patil Developers is currently trading at Rs. 367.55, up by 1.15 points or 0.31% from its previous closing of Rs. 366.40 on the BSE.

The scrip opened at Rs. 365.00 and has touched a high and low of Rs. 369.45 and Rs. 365.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 404.60 on 29-Nov-2017 and a 52 week low of Rs. 82.20 on 30-Dec-2016.

Last one week high and low of the scrip stood at Rs. 384.50 and Rs. 354.05 respectively. The current market cap of the company is Rs. 2,785.00 crore.

The promoters holding in the company stood at 74.54%, while Institutions and Non-Institutions held 9.89% and 15.57% respectively.

Kolte-Patil Developers has exited its Sanjivani project located at Urse, Pune for a consideration of Rs 50 crore, being refund of its initial capital contribution. The divestment decision was taken after re-evaluating the operating environment, product fitment and overall feasibility of the project, and is in line with the company’s asset-light philosophy.

The move will free up capital to pursue key growth initiatives, including acceleration of operations in current projects and exploring new opportunities.

Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.

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