[ecis2016.org] Kolte-Patil Developers has announced that it has signed an agreement to redevelop the Dahisar Shree Avadhoot Co-operative Housing Society in suburban Mumbai, in a project that could generate nearly 4 lakh sq ft
Realty player Kolte-Patil Developers, on April 26, 2017, said that it had signed an agreement to redevelop a residential project in Dahisar, in Mumbai. The Dahisar Shree Avadhoot Co-operative Housing Society has a plot area of over 15,035 sq metres and Kolte-Patil’s economic interest in this project is 4 lakh sq ft, the company said in a statement.
You are reading: Kolte-Patil signs agreement to redevelop project in Mumbai
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“The society has been acquired on the same underlying philosophy as our other Mumbai projects, with capital deployment being linked to approvals and project-specific timelines. Our focus in Mumbai, is on generating strong returns and reducing our working capital cycle,” the company’s CEO, Gopal Sarda said. He said the company has a diversified portfolio and its foray into Mumbai will facilitate PAT expansion and reduce working capital cycle for the firm, while providing synergies to the existing Pune operations.
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The company has developed and constructed over 50 projects, including residential complexes, commercial complexes and IT parks, covering a saleable area of 15 million sq ft across Pune and Bengaluru.
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