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Kolte-Patil Developers Ltd

Kolte-Patil Developers Ltd

Kolte-Padil Developers ltd
Public company
Traded asBSE:532924NSE:KOLTEPATILBSE SENSEX Constituent
IndustryReal estate
Founded1991
FounderRajesh Patil, Naresh Patil and Milind Kolte
HeadquartersPune, India
Key people
Mr. Rajesh Patil (Chairman and Managing Director) Mr. Naresh Patil (Vice-Chairman) Mr. Milind Kolte (Executive Director) Mrs. Sunita Kolte (Non-Executive Director) Mrs. Vandana Patil (Non-Executive Director)
ProductsOffices Apartments Shopping Malls Hotels Golf courses Infrastructure
RevenueINR 779.38 crores (2014)
Net income
INR 92.04 crores (2014)
Number of employees
890
Websitekoltepatil.com
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Introduction

Kolte Patil Developers Ltd. is a real estate developer based in Pune and founded in 1990. [1] The Company has developed and constructed 48 projects in Pune and Bengaluru including 35 residential complexes, 9 commercial complexes, and 4 information technology parks covering a saleable area (KPDL share) of over 10 million square feet. [2] [3] [4] [5]

The company has also recently started on redevelopment projects in the Mumbai market in locations such as Khar, AndherKoli and Ville Parle.

[6] [7] [8] [1] [1] [1] [1] [1] [1]

History

The Company was set up as a partnership firm in 1989 and later incorporated under the name Kolte-Patil Developers Ltd.

(KPDL) on 25 November 1991,by Mr. Rajesh Patil, Mr. Naresh Patil and Mr. Milind Kolte [1] [1] [1]

Recent Activities

The Company has recently completed the acquisition of 34 acres at Wakad, Pune for approximately Rs. 350 crore.

[1] [2] The project is fully owned by Kolte-Patil with a total saleable area of 2.3 million square feet. [2]

Kolte-Patil [2] has formed a collaboration with Porcelanosa.

The Porcelanosa Group is a leader in its category of files, ceramics and fittings.

The association between the brands marks the European brand’s entry into the Indian market.

[2] [2] [2] [2] [2] [2] [2] [3]

Kotle-Patil has also acquired 30 acres at Kondhwa in Pune along with ASK Real Estate Special Opportunities Fund for Rs. 160 crore to develop a residential housing project.

[3] [3] [3] [3] This is located within Pune city limits, in Katraj-Kondhwa area of South Pune.

Some of the key projects the Company is currently executing includes Life Republic, a 400-acre integrated township [3] [3] [3] [3] [3] The project has received “RealtyPlus Marketing Award” for “Innovative Real Estate Marketing Campaign of the Year” for 2012. The Company is delivering the first phase of the township, encompassing 150 acres, in 2014. [4]

Gauri Khan tied up with Kolte Patil to create 24 Glitterati luxury penthouses for Kolte Patil's high-end homes, a first in the series of couture residences.

[4] [4]

Now Realty's residential project, Sereno at Baner, Pune has Kolte Patil as its development manager.

Construction has started on this project which offers 6 lakh sq ft of saleable development area.

Kolte Patil will lend its brand ‘24K’ to the project and jointly collaborate with Now Realty to oversee all aspects of the project lifecycle including project conceptualization and execution, product design, sales, marketing, project infrastructure and residential development and handover.

[4] [4] [4] [4] [4] [4] [4] [5]

References

[1]
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