Kolte Patil rises on announcing collaboration with Planet Smart City

Kolte-Patil Developers Limited (KPDL), a leading real estate company, announced today about its collaboration with Planet Smart City for a new project that involves the creation of a residential development platform for the development of 15,000 housing units.

Planet Smart City is a global leading PropTech company, which provides smart affordable housing. This is KPDL’s second project with the company. Prior to this, the two companies had collaborated for a co-development project named Universe, at Sector R10, Life Republic (a township project in Pune).   

This collaboration aims to develop smart aspirational housing projects in three cities namely, Pune, Mumbai & Bengaluru. The primary focus of both the companies is to grow the platform over a period of time-based on suitable structures as per the agreed terms as the right opportunities continue to emerge.  

This project will help KPDL to capture opportunistic and structured outright land purchase transactions while maintaining a healthy balance sheet. It is expected to generate significant earnings in the coming years. This will contribute significantly to the company’s growth.   

At the time of market closing, the share price of Kolte-Patil Developers Limited was trading at Rs 243.50, an increase of 4.08 per cent over its previous day’s closing price of Rs 233.95 on BSE.