Rs 3,450 crore projects: This multibagger real estate company adds new projects with Rs 950 crore revenue potential; stock hits 52-week high!

Shares of this company jumped more than 55 per cent in the last six months.

Kolte-Patil Developers Limited has added multiple new projects to its portfolio in FY24. The company today informed that it has signed two new society re-development projects in the western suburbs of Mumbai. The company has signed a total saleable area of 4.8 lakh sq. ft., and these projects have a total topline potential of Rs 950 crore.

In April, the company added two new residential projects in Pune with a total estimated saleable area of 1.9 million square feet and a top-line potential of Rs 1,300 crore. The company also acquired 5-acre land in Wagholi, Pune. The project has an estimated developable potential of 7.5 lac sq. ft. and a revenue potential of Rs 400 crore. The company also entered into a joint venture project at NIBM Road, Pune. The project has an estimated developable potential of 11.5 lac sq. ft. and a revenue potential of Rs 900 crore.

And the company also marks its entry in the central suburbs of Mumbai and Navi-Mumbai micro-markets with a new signing of two new society redevelopment projects with a total saleable area of 7.3 lakh sq. ft. with the top-line potential of Rs. 1,200 crores.

In the last three years, the shares of the company have given multibagger returns of more than 180 per cent and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.