Kolte-Patil acquires ~7.5-acre land parcel in Bhugaon, Pune

Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL), a leading Pune-based real estate player, with a diversified presence in Mumbai and Bengaluru, announced that the company has acquired a ~7.5-acre land parcel in Bhugaon, Pune, with an estimated saleable area of ~1.9 million square feet and a Gross Development Value (GDV) of ~Rs. 1,400 crore.

Bhugaon, Pune, is emerging as a desirable residential destination, with a blend of natural surroundings and excellent urban connectivity. This land parcel is surrounded by premium localities like Bavdhan and Kothrud, adjacent to the Mumbai-Pune Expressway and close to the Shivaji Nagar Railway station. Furthermore, major employment hubs are in the vicinity, making it an attractive choice for homebuyers. The project is conveniently located close to social infrastructure comprising schools, hospitals, shopping malls and entertainment hubs, adding to the attractiveness of the micro-market.

Commenting on the development, Mr. Rajesh Patil, Managing Director, Kolte-Patil Developers Limited said, "Foraying into a new high-potential micro-market through outright acquisition of this strategically located land in Bhugaon strengthens our presence in Pune. With growing demand accelerated by improving infrastructure and rising end-user interest, our presence in Bhugaon aligns with our strategy of delivering well-planned, value-driven developments. Backed by our deep understanding of evolving lifestyles and a legacy of over three decades, this addition reinforces our commitment to creating thoughtful communities that enable better quality of life."

Shares of Kolte - Patil Developers Limited was last trading in BSE at Rs. 429.10 as compared to the previous close of Rs. 432.75. The total number of shares traded during the day was 4445 in over 316 trades.

The stock hit an intraday high of Rs. 433.85 and intraday low of 425.10. The net turnover during the day was Rs. 1909740.00.

Source : Equity Bulls

Keywords

KoltePatilDevelopers INE094I01018 Realty LandParcel Acquisition Bhugaon Pune