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To. The Assistant Manager, National Stock Exchange of India Limited Listing Department, 'Exchange Plaza', Bandra Kurla Complex, Bandra (East), Mumbai - 400051

To. The General Manager, BSE Limited Corporate Relationship Department. 1st floor, Phiroze Jeejeebhoy Towers, Dalal Street. Mumbai - 400001

02 December 2019

Sub: Press Release - Kolte-Patil completes second tranche payment of Rs. 70 crore for buy-out of ICICI Venture's 50% stake in Life Republic Township Project in Pune

Ref: NSE Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code: 9624 and 532924

Dear Sir/Madam.

Please find attached herewith press release "Kolte-Patil completes second tranche payment of Rs. 70 crore for buy-out of ICICI Venture's 50% stake in Life Republic Township Project in Pune."

This is for your information and record.

Thanking you,

For Kolte-Ratil Developers Limited

Vinod Patil Company Secretary and Compliance Officer Membership No. A13258

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KOLTE-PATIL DEVELOPERS LTD.

CIN: L45200PN1991PLC129428

Pune Regd. Office.: 2nd Floor, City Point, Dhole Patil Road, Pune 411001. Maharashtra, India. Tel.: +91 20 6622 6500 Fax : +91 20 6622 6511 Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042. India. Tel.: 080 - 4662 4444 / 2224 3135 / 2224 2803 Web: www.koltepatil.com

Fo. ,'r.! .r I olt

Kolte-Patil completes second tranche payment of Rs. ZO crore for buy-out of ICICI Venture's 5oo/o stake in Life Republic Townshap project in pune

Pune' December 02, 2019: Kolte-patil Developers Limited (asE. 532924, NsE: K)LTE1ATIL; KpDL), a leading Pune based real estate developer, announced today that the company has completed the second tranche payment of Rs. 70 crore to India Advantage Fund-III (IAF-III) and India Advanrage Fund-IV (IAF-IV) managed by IcIcI Venture Funds Management Company Limited (ICICI Venture) for the buyout of their 50o/o stake in KPDL'S flagship township project - Life Republic. As indicated earlier, the payment has been made largely funded through internal accruals. The current disbursement rs as per schedule and follows the first instalment of Rs. 70 crore paid out in March 2019. Following the buyout, KPDL'S economic interest in Life Republic will increase to 95yo and the company,s overall economtc interest in its entire portfolio of projects will rise from [-600/0 to -9oo/o]. The Life Republic project resides in an SPV called Kolte-Patil I-Ven Townships (pune) Ltd.

in May, 2019, Kolte-Patil had announced the buy-out of IcIcI venture's stake for a cash considerauon of Rs. 210 crore to be paid in three instalments. The Company has already completed two installmenrs and the last one is due August 2020. In addition, 12 acres of land in Life Republic with FSI required to achieve saleable area equivalent to 1.4 million square feet, will be allocated to IAF III and IAF lV uDon the project obtaining FSI of 1.0 from the present 0.5. Kolte-patil is funding the acquisition through internal accruals and bank borrowings. The company has strong visibility of cash flow from operations and maintains a healthy balance sheet position - as on september 30 2019, it had a net debt to equrty ratio of 0.41 times.

Life Republic, being the company's flagship proJect spread across -4oo acres, is expected to conqnue to drive Kolte-Patil's revenue, profits, cash flows and return ratios in a significant manner over next decade-and-a-half. At present, - 4.2 million square feet has already been delivered in the project, making Life Republic an established destination for Pune home buyers and currently home to 1o,ooo residents. The project has 4 milion square feet of pre-approved deveropment space by MAHAREM, and is expected to add another 10,000 residents within three years. In Fy19, sales of almost 0.9 million square feet were achieved at Life Republic and recent new launches/festive promotions continue to drive strong demand visibility among buyers. The total saleable area at Life republic is -20 million souare feet, based on FsI of 1.0, which is curren y incorporated in the project design plans. However, the total FSI potential of the proJect is 1.7 based on the integrated townshrp norms.

commenting on this key dev€ropment, Mr. copar sarda, croup cEo, Korte-patir Deveropers Ltd' said, "our decision to buy-out IcIcI ventures' stake in Life Republic is a key milestone in our growth iourney and value creation program. The unique structuring of this buy-out makes it possibte to maintain our asset light business model, by enabling tranche payments from internal accruals and also ensunng strong visibility of pre sales, profit, cash flow and RocE from the progressive monetization of this property across the next decade-and-a-hatf.

Life Republic, being our flagship integrated township project in pune, has witnessed consistent demand from home buyers on the back of our 360-degree product offerings. Especiauy, in the rast year and current yeart the performance of the proiect has improved significantly. we have launched new offerings and promotions at this project and the customer traction at this project remains strong. The prolect is already a landmark destination in western pune with best-in-class physicat as well as soc,t infrastructure. we believe that based on its strategic location and visibility of several infrastructure clevelopments planned in the vicinity, the life cycle value of the project stands considerably enhanced.,'

^Astrong corporate governance framework arong with the positive interpray of approvars, sates, collections and delivery, has strengthened our brand equity amongst our customers. The opportunity in residential real estate remains sizeabte and we remain confident of improving of our growth tralec@ry further."

About Kolte-patil Developers Limited

Kolte-Patil Developers Ltd, (BsE: 532924, NsE: KoLTEPAnUt incorporated in 1gg1, is a leading real estate company with dominant presence in the pune residentiar market. The company is guided by the simpte, yet profound, philosophy of'creation' not construction'. Kotte-Patil is a trusted name wtth a reputation for high quality standards, design uniqueness, transparency and for delivery of projects in a timely manner. The company has been crearrng landmarks for over 28 years and has developed and constructed over s0 proiects including residential comptexes, commercial complexes and IT Parks covering a saleable area of -20 million square feet across pune, Mumbat ano Bengaluru,

Kolte-Patil markets its projects under two brands: 'Korte-patir' (addressng the mid-income segment) and ,24K, (addressing the premium luxury segmentl The company has executed projects in muttiple segments - standalone residential buildings and integrated townships. severat of the company\ proJects have been certified by the Indian Green Building Councit (IGBC).

consolidating its leadership position in Pune, the company forayed into the Mumbai market in 2013 focusing on tow capital intensive society re-development proiects. The company has already signed 12 projects titt date at Drime locations acrcss the city.

The companY's lonq-term bank debt and non-convertible debentures have been rated,A+ / positive'by cRIsIL, the highest rating accorded by CRISIL to any Ftublicty listed residential real estate ptayer in India,

For more details on Kolte-Patil DevelopeE Ltd,, visit www.koftepatil-com.

For further anformation, pleas€ contact:

Girbh Zangade / vikram Raiput

Kolte-Patil Developers Ltd. 201, City Point, Dhole Patil Road, Pune - 411001 ret +9r 7770 OL7 399 | +91 96079 96930 Email : [email protected] / vikram. [email protected]

Shiv lluttoo / Shruti loshi

CDR India Horniman Circle, Fort, Mumbai Tef: +91 983 355 7572/+91 75O 656 7349 Email: [email protected] / [email protected]

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Kolte-Patil Developers Ltd Capital/Financing Update 2019