Kolte Patil Developers jumps on entering into agreement with Planet Smart City

22 Dec 2020 Evaluate

Kolte Patil Developers is currently trading at Rs. 209.80, up by 4.40 points or 2.14% from its previous closing of Rs. 205.40 on the BSE.

The scrip opened at Rs. 203.00 and has touched a high and low of Rs. 212.20 and Rs. 201.90 respectively. So far 7159 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 277.90 on 17-Jan-2020 and a 52 week low of Rs. 103.10 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 233.50 and Rs. 185.00 respectively. The current market cap of the company is Rs. 1596.09 crore.

The promoters holding in the company stood at 74.45%, while Institutions and Non-Institutions held 14.18% and 11.37% respectively.

Kolte Patil Developers (KPDL) through its subsidiary -- Kolte-Patil I-Ven Townships (Pune) (KPIT) has entered into an agreement with Planet Smart City, a UK based Proptech Company, for the second and final leg of strategic land monetization at Sector R10 in KPDL’s Pune-based township project Life Republic for Rs 81.29 crore. This portion of land measuring 4.92 acres in Sector R10 has a residential development potential of 6.8 lakh sq. ft. in terms of saleable area.

This agreement follows the initial transaction of Rs 91 crore between the two companies announced in April this year, for monetization of 5.42 acres in Sector R10 with residential development potential of 7.6 lakh sq. ft. based on saleable area. Aggregate value of both these transactions over two phases is Rs 172 crore.

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.

Kolte-Patil Develop. Share Price

456.00 -9.45 (-2.03%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
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DLF 898.30
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