Kolte-Patil Developers has acquired Pune based Sampada Realities. Under this acquisition, Kolte-Patil has acquired residential development potential of around 2.5 Million Sq.ft. at Kiwale in Pune. The transaction entails the acquisition of 85% Equity Shares in Sampada Realities on an immediate basis with the balance 15% stake to be acquired in due course. With this transaction, Kolte-Patil has committed an aggregate total investment of Rs 120 crore to be paid over a period of time.
Sampada Realities comprises of only one residential real estate project on 25 acres of land parcel at Kiwale in Pune to be developed in a phased manner. The development represents a revenue opportunity of over Rs 1,400 crore for Kolte-Patil. The project has all the required regulatory approvals in place. This acquisition will help further strengthen Kolte-Patil’s market position in Pune, with substantial visibility in Kiwale, a high-potential micro market in the city.
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.
