Kolte-Patil signs a ~5 acres joint development project in Bhugaon, Pune: Estimated GDV of the project is ~Rs. 850 Crore
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 signed a joint development deal for a ~1.1 million sq. ft. residential project in Bhugaon, Pune that has an expected Gross Developable Value (GDV) of ~Rs. 850 crore.
Bhugaon, is an emerging residential destination in Pune, blending natural flora and fauna with excellent urban connectivity. This land parcel is surrounded by established premium markets like Bavdhan and Kothrud and is adjacent to the Mumbai-Pune Expressway as well as Shivaji Nagar railway station. The project is set to benefit from being in close proximity to large employment hubs as well as the access to advanced social infrastructure comprising schools, hospitals, shopping malls and entertainment hubs making this a very unique and attractive proposition.
Commenting on the development, Mr. Rajesh Patil, Managing Director, Kolte-Patil Developers Limited said, “This transaction aligns with our strategy to systematically strengthen our presence in high-potential micro-markets benefitting from evolving demand trends. This project in Bhugaon marks the next step in expanding our portfolio through capital-efficient partnerships. We remain committed to creating highly amenitized state-of-the-art residential spaces that deliver lasting value to customers. Leveraging our strong brand value and market expertise, we aim to develop a thoughtfully designed offering that supports Pune’s urban growth and meets the aspirations of today’s homebuyers.”
About Kolte-Patil Developers Limited
Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL; KPDL), incorporated in 1991, is a leading real estate company with a dominant presence in the Pune residential market and a diversified presence in Mumbai and Bengaluru. In FY26, the Company entered into a strategic partnership with global investment firm Blackstone with the latter acquiring a 40% stake in the Company following a two-phase transaction involving the preferential allotment of equity shares and a secondary equity share acquisition from existing promoters.
Kolte-Patil is a trusted name with a reputation for high quality standards, design-uniqueness, corporate governance, transparency, and timely delivery of projects. The company has developed and constructed over 68 projects, including residential complexes, integrated townships, commercial complexes, and IT Parks covering a saleable area of >31 million square feet across Pune, Mumbai and Bengaluru. The Indian Green Building Council (IGBC) has certified several of the Company’s projects. KPDL markets its projects under two brands: ’Kolte-Patil’ (addressing the mid-premium/premium segment) and ‘24K’ (addressing the premium luxury segment).
Consolidating its leadership position in Pune, the company forayed into the Mumbai market in 2013, focusing on society redevelopment projects that have lower capital intensity. The company has signed fourteen projects (six completed, three on-going, five future projects) till date at prime locations across the city.
KPDL has seamlessly navigated varied economic cycles enabled by one of the lowest debt levels in the sector. The Company’s long-term bank debt has been rated ‘AA-/Stable’, short-term bank loan facilities as A1+ and non-convertible debentures as AA-/Stable by CRISIL.
The Company’s growth trajectory, internal processes and corporate governance practices have benefitted from partnerships with marquee financial institutions like KKR, JP Morgan Asset Management, Portman Holdings, ASK Capital, Motilal Oswal, ICICI Ventures, IL&FS, Planet Smart City and Marubeni Corporation.
Over the years, KPDL has received multiple awards and recognitions including The ET Real Estate Awards 2025-Residential Project – High-End (Ongoing: West) for 24K Manor, The ET Real Estate Awards 2025-Residential Project Villa for 24K Espada Project at Life Republic, Times Power Brands,2023-Legacy Brand in Real Estate – Pune, Most Iconic Luxury Brand in Real Estate-24K, ET Business Awards, 2022.
