Kolte-Patil Developers Limited has signed two new society redevelopment projects in the Mumbai Metropolitan Region (MMR) with total saleable area of 7.3 lac square feet translating into top-line potential of INR 1,200 million. These two projects are strategically located in the prime residential areas of Mulund (West) in Mumbai, and Vashi in Navi-Mumbai, marking KPDL's entry in these rapidly growing micro-markets of MMR. In Mumbai, the Company has already delivered two projects and five projects are under development - all of these projects are in the western suburbs of Mumbai. With these two new additions, KPDL further strengthens its MMR presence as a part of its strategy to diversify outside Pune and is continuously evaluating several business development and growth opportunities in its defined markets.

Project Details: Based on current estimates. Mulund project represents the largest society re-development project undertaken by Kolte-Patil in Mumbai. This is also the first expansion into a micro-market in the central suburbs, creating an additional level of locational diversification.

Mulund is a well-planned suburb that is rapidly evolving as the location of choice for homebuyers owing to well-developed infrastructure and seamless connectivity to other parts of Mumbai that will further improve with the upcoming metro line. Vashi project marks Kolte-Patil's entry in the Navi-Mumbai micro-market. Kolte-Patil will jointly develop this project with Nivasti Group.

Navi-Mumbai market has strong growth potential with rapidly developing transport infrastructure (road, rail and air connectivity), social infrastructure and high affordability quotient.