Kolte-Patil Developers: Rs 545 Crore Mumbai Redevelopment Projects

New Delhi, Jan 23 (PTI) Realty firm Kolte-Patil Developers Ltd will redevelop two societies in Mumbai and is expecting revenues of Rs 545 crore from these two projects.

In a regulatory filing, Pune-based Kolte-Patil Developers said it has "signed two new society re-development projects in the western suburbs of Mumbai with total saleable area of 3.06 lakh square feet translating into top-line potential of Rs 545 crore."

The two acquired projects are located at Dahisar and Versova. With these additions, the company has of a total of fifteen projects in the Mumbai Metropolitan Region (MMR).

So far in this fiscal, the company has acquired eight projects, comprising two in Pune and six in MMR, with a combined total development potential of 3.3 million square feet and a topline potential of around Rs 4,000 crore.

Kolte-Patil has developed and constructed over 58 projects, including residential complexes, integrated townships, commercial complexes and IT Parks, covering a saleable area of more than 26 million square feet across Pune, Mumbai and Bengaluru.