Kolte-Patil signs joint development residential project in Pune with estimated GDV of ₹850 crore

Real estate company Kolte-Patil Developers Ltd. on Wednesday, January 14, said it has signed a joint development deal for a residential project in Pune. 

Spread across roughly 1.1 million sq. ft., the project in Pune’s Bhugaon has an estimated Gross Development Value (GDV) of approximately ₹850 crore.

In a regulatory exchange, the developer said that Bhugaon is an emerging residential area, surrounded by established premium markets like Bavdhan and Kothrud. The area is also adjacent to the Mumbai-Pune

Expressway and Shivaji Nagar railway station.

Rajesh Patil, Managing Director, Kolte-Patil Developers, said, “The Bhugaon project marks an important step in expanding our residential portfolio and reflects our commitment to delivering thoughtfully designed, amenity-rich developments that address evolving homebuyer aspirations while supporting Pune’s urban growth.”

He said the deal aligns with the company’s strategy to strengthen its presence in high-potential micro-markets. 

The company believes the project will also benefit from being in close proximity to large employment hubs as well as access to advanced social infrastructure comprising schools, hospitals, shopping malls, and entertainment hubs.

Based in Pune, Kolte-Patil Developers have a presence across Mumbai and Bengaluru.

It was also the Blackstone Group's first residential bet in India.  In March 2025, Blackstone invested ₹1,800 crore in Kolte-Patil Developers, acquiring a 14.3% stake through a preferential allotment route.

Shares of the company is trading at 369.05 apiece, which is 0.57% lower than the day’s opening on the NSE.

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