Kolte Patil Developers inches up on signing two new projects in Pune under DM model
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Kolte Patil Developers is currently trading at Rs. 230.80, up by 1.05 points or 0.46% from its previous closing of Rs. 229.75 on the BSE.
The scrip opened at Rs. 231.50 and has touched a high and low of Rs. 232.50 and Rs. 230.80 respectively.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 285.15 on 08-Jan-2021 and a 52 week low of Rs. 132.95 on 20-Jul-2020.
Last one week high and low of the scrip stood at Rs. 240.40 and Rs. 224.50 respectively. The current market cap of the company is Rs. 1746.20 crore.
The promoters holding in the company stood at 74.45%, while Institutions and Non-Institutions held 9.90% and 15.65% respectively.
Kolte Patil Developers has signed two new projects in Pune under the Development Management (DM) model. The company will lend its brand and jointly collaborate with land owners to oversee product design, sales and marketing, project quality and cash flow management, leading to time-bound handover to buyers. The project costs would continue to be borne by the respective projects. Both locations of the new projects are established micro-markets within Pune and are strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.
Kolte Patil Developers is a leading real estate company. The company has developed and constructed over 50 projects including residential complexes, commercial complexes and IT Parks covering a saleable area of approximately 15 million square feet across Pune and Bengaluru.
