Kolte-Patil Developers signs two redevelopment projects in Mumbai suburbs

MUMBAI: Pune-based realty developer Kolte-Patil Developers has entered into agreements for two redevelopment projects in Mumbai’s western suburbs. Both Mumbai suburban redevelopment projects has total area of around 600,000 sq ft, the company said in a release.

The first project for redevelopment of Jay Vijay co-operative housing society at Vile Parle suburb has a total plot size of 8,979 square meters, while the second project, Jumbo Darshan is located in Andheri East, with a total plot size of 7,077 square meters.

The Pune-based realty developer had recently announced its first redevelopment project on Khar-Linking Road in Mumbai.

“We are overwhelmed on bagging these two projects in Mumbai, which helps the company to broaden its horizon further. We’ll continue to further concentrate in Mumbai through redevelopment and we are eyeing many more such projects,” said Sujay Kalele, CEO, Kolte-Patil Developers Ltd.

At 12.09 pm, shares of Kolte-Patil Developers were trading at Rs 74 on the Bombay Stock Exchange, up 3.9% over Monday’s close.