Kolte-Patil Developers said that it has signed a couple of new projects in Pune under the development management (DM) model, with expected fees of around INR 80 crores.

The Pune-based real estate developer will provide its brand to the 8.4-acre Hinjewadi residential project and the 5.4-acre Tathawade mixed use project. The saleable areas of the Hinjewadi and Tathawade projects are 0.75 million sq. ft. and 0.55 million sq. ft., respectively.

Kolte-Patil Developers, as the development manager, said that it will collaborate with the land owners to supervise product design, project quality, sales and marketing, and cash flow management, which is expected to result in time-bound handover to buyers.

The Indian real estate developer said that the costs of the projects would continue to be borne by the respective project proponents. Locations of both the new projects are established micro-markets in Pune and are located strategically with various hospitals, schools, retail and residential spaces in close proximity, said Kolte-Patil Developers.

Earlier this year, Kolte-Patil Developers had inked three new projects with a combined saleable area of around 2.2 million sq. ft. in Pune under capital light models. The company said that the new DM projects will strengthen its market position in Pune further.

Gopal Sarda – Group CEO of Kolte-Patil Developers said: “We are delighted to add these projects in Pune to our portfolio under the DM model. An increasing number of landowners/developers are looking to partner with us given our brand equity, balance sheet strength, faster execution and cash flow generation record.

“These two new project additions along with three announced in Feb earlier are in line with our Business Development strategy of expanding our market share in our core markets of Pune, Mumbai and Bengaluru.”

  Gopal Sarda, India, Kolte-Patil Developers, Pune, Real estate industry news