Kolte Patil Developers acquires new project in Kiwale, Pune

Kolte Patil Developers announced the acquisition of Pune based Sampada Realities. Under this acquisition, Kolte Patil has acquired residential development potential of ~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.

 

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