Kolte-Patil signs two new projects in Pune having saleable area of 13 lakh sq ft
New Delhi: Pune-based Kolte-Patil Developers Ltd has signed two new projects in Pune having a combined saleable area of 13 lakh square feet under development management model.
The projects are located in two micro-markets of the city-Hinjewadi and Thathawade. The project at Hiinjewadi will be a housing project having saleable area of 7.5 lakh square feet. The other will be a mixed-use project having a saleable area of 5.5 lakh square feet.
The costs will continue to be borne by respective projects, Kolte-Patil said in a statement.
"We look forward to build on our business development intensity with structured transactions and scale the profitable, operating cash flow generating business that we have built and deliver stronger return on capital employed and internal rate of return," said Group CEO Gopal Sarda.
Kolte-Patil will lend its brand to the projects. It will also collaborate with landowners of the projects on aspects like design, sales & marketing and project quality.
In February 2021, the company had signed three projects having total saleable area of 22 lakh square feet. They were signed under capital-light model.