Kolte Patil Developers is currently trading at Rs. 231.65, up by 11.85 points or 5.39% from its previous closing of Rs. 219.80 on the BSE.
The scrip opened at Rs. 220.50 and has touched a high and low of Rs. 234.20 and Rs. 220.50 respectively. So far 4200 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 317.00 on 14-Sep-2018 and a 52 week low of Rs. 201.80 on 25-Jun-2019.
Last one week high and low of the scrip stood at Rs. 234.20 and Rs. 214.65 respectively. The current market cap of the company is Rs. 1728.58 crore.
The promoters holding in the company stood at 74.53%, while Institutions and Non-Institutions held 14.42% and 11.06% respectively.
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 around 1.2 million square feet with over around 1,250 units to be developed.
As the development manager, Kolte Patil will lend its brand to these projects and jointly collaborate with the land owners 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 Rs 60-65 crore from these projects over a period of 30-36 months.
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.
