Kolte-Patil Developers (KPDL) has entered into an agreement with Marubeni Corporation, Japan, for an investment in Kolte-Patil’s residential project located in Pimple Nilakh micro market, Pune.
Based on the agreement, Marubeni Corporation will invest Rs 206.5 crore in the project and will be entitled to around 2.85 lakh sq. ft. of saleable area. KPDL will receive this amount in a single tranche, providing further liquidity to the company to invest in business development opportunities. The Pimple-Nilakh residential project, one of the priority launches in Kolte-Patil’s 24K premium luxury segment portfolio, has a total development potential of around 8 lakh sq. ft.
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.
