Kolte Patil Developers acquires new project in Kiwale, Pune

11 Aug 2022 , 09:15 AM

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.Powered by Capital Market – Live News