Kolte-Patil Bags Its Largest Re-Development Project Stock Surges Over 6%

The stock of Kolte-Patil Developers, on Wednesday, 26 April 2017 surged over 6% on the BSE, riding over the signing of its largest re-development project till date in Mumbai with 15,035 square meters’ plot area.

Kolte-Patil’s economic interest in this project is 4 lakh square feet. Payments of the corpus fund, rental and other project expenses are linked to the approvals and project timelines.

The said project has a strategic location in Dahisar East being well-connected to the Western Express Highway. Further adding the attractiveness of the location is its close proximity to the under-construction Metro VII project which has recently extended to the Mumbai airport.

Kolte-Patil Developers Limited was incorporated on November 25, 1991, as a private limited company. Rajesh Patil and Milind Kolte are promoted the company. The Company was subsequently converted into a public limited company. The company name was changed to Regenesis Developers Limited on December 4, 2006, and subsequently, the name was changed to Kolte-Patil Developers Limited on December 12, 2006. 

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About Suhani Varma