Kolte-Patil Developers expects Rs 850 cr revenue from new housing project in Pune

New Delhi, Jan 14 (PTI) Realty firm Kolte-Patil Developers Ltd has entered into a partnership with a landowner to develop a housing project in Pune, with an estimated revenue potential of Rs 850 crore.

In a regulatory filing on Wednesday, the company informed that it 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 around Rs 850 crore." GDV in real estate refers to the total sales value of the entire project.

The company did not mention the name of the landowner with whom it has signed the joint development agreement.

Pune-based Kolte-Patil Developers Ltd, incorporated in 1991, is one of the leading real estate companies in the country. It has a presence in Pune, Mumbai and Bengaluru. PTI MJH DRR