A Pune-based developer Kolte Patil Developers has inked a deal of a 3.8-acre redevelopment project at Dahisar in the western suburb of Mumbai.
Currently, the company has its economic interest in the area of 4 lakh sq. ft. The payment of the corpus, rentals and other project expenses are dependent on the approvals and set timelines for the project.
This redevelopment project will mark the company’s debut in Mumbai real estate market. It will provide PAT (profit) expansion and reduce working capital cycle for the company. The main aim of all the Mumbai-based projects is to generate strong Return of Capital Employed (ROCE) and provide assistance to its Pune operations, says Gopal Sarda, the CEO of Kolte Patil Developers.
Kolte Patil Developers has an enchanting history of developing over fifty projects across residential and commercial including IT Parks over a saleable area of around 15 million sq. ft. in Pune and Bangalore.
Source: ET Realty