Kolte Patil Developers launches two redevelopment projects in Mumbai Metropolitan Region, forays into Navi Mumbai

Listed Pune-based real estate developer Kolte Patil Developers Limited (KPDL) signed two new society redevelopment projects in the Mumbai Metropolitan Region (MMR) with a total saleable area of 7.3 lakh square feet translating into top-line potential of Rs 1,200 crore, the company said in a statement on April 27.

The two projects are strategically located in the prime residential areas of Mulund West in Mumbai, and Vashi in Navi Mumbai, marking KPDL’s entry into these rapidly growing micro-markets of MMR, the company stated.

In Mumbai, the company has already delivered two projects and five projects are under development; all of these are in the western suburbs of Mumbai. With these two new additions, KPDL further strengthens its MMR presence as a part of its strategy to diversify outside Pune and is continuously evaluating several business development and growth opportunities in its defined markets, it said.

"Mulund project represents the largest society re-development project undertaken by Kolte-Patil in Mumbai. This is also the first expansion into a micro-market in the central suburbs, creating an additional level of locational diversification," the company said.

Also read: Mahindra Lifespace gets society redevelopment project in Mumbai; revenue potential Rs 850 crore