AI assistant
Kolte-Patil Developers Ltd Capital/Financing Update 2022
59438_rns_2022-11-10_c8ddfa00-ede4-48a3-93e6-e6374adedc49.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
To, The Assistant Manager, National Stock Exchange of India Limited Listing Department, 'Exchang e Plaza' , Bandra Kurla Complex, Bandra (East), Mumbai - 400051
To, The General Manager, BSE Limited, Corporate Relationship Department, 1\$ floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001
Date: 10 November 2022
Sub: Press release - "KPDL partners with Planet Smart Gity to jointly develop -0.65mn sq.ft. at Kiwale, 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 - "KPDL partners with Planet Smart City to jointly develop -0.65mn sq. ft. at Kiwale, Pune"
This is for your information and record.
Thanking you,
lopers Limited For Kolte-Patil
Company Secretary and Compliance Officer Membership No. A13258
Encl: As above
CIN : L4520OPN1991PlC129428
pune Regd. Offi(e.:2nd Floor, City Point, Dhole Patil Road, Pune 411001. Maharashtra, India, Tel.: +91 20 6622 6500 Fax: +91 20 5622 6511 Bangalore Office : l2l, The Estate Building, l0th floor, Dickenson Road, Bangalore 560M2. India. Tel.:080 - 4662 444412224 313512224 2aO3 web : www.kolteDatil.com
KPDL partners with Planet Smart City to jointly develop ~0.65mn sq. ft. at Kiwale, Pune
This is the third project under the joint platform created between KPDL and Planet to develop smart aspirational housing units
Pune, 10th November 2022:
Kolte-Patil Developers Limited (BSE:532924, NSE: KOLTEPATIL; KPDL), a leading Pune-based real estate developer, with growing presence in Mumbai and Bengaluru, today announced that the Company, through its wholly-owned subsidiary Sampada Realities Private Ltd., has entered into an agreement with Planet Smart City, for strategic land monetization of a portion of its project 'Little Earth' at Kiwale, Pune, for ~Rs. 78 crore., for joint development of ~0.65 mn sq.ft. The agreement with Planet takes place through an SPV which is owned by Planet and KPDL in the ratio of 83% and 17% respectively.
This said land parcel is a part of KPDL's recent acquisition of Sampada Realities Private Limited which has residential development potential of ~2.5 mn sq.ft. The Company is developing the residential housing project under the existing project name 'Little Earth' on the said land parcel at Kiwale, a high potential micro market in Pune.
Progressing on the commitment to deliver smart aspirational housing projects in Pune, Mumbai and Bengaluru, under the residential development platform with Planet Smart City, this is the third project that the Company has undertaken following the previously launched joint initiatives at Universe (Life Republic) and Three Jewels, in Pune. Driving innovation in architecture, social inclusion, environment and technology, Planet brings a strong ESG and prop-tech approach to housing.
Kiwale is strategically located at the junction of old NH4 Highway, Katraj-Dehu Road, and Mumbai-Pune Expressway, and provides seamless access to Hinjawadi IT Hub, Pune city and the industrial belt of north western Pune. Adding to the attractiveness of the location is the surrounding natural beauty striking a balance between peaceful lifestyle and functionality.
Expressing his views on the announcement, Mr. Rahul Talele, Group CEO, Kolte-Patil Developers Limited said, "Our focus remains on embracing high standards of innovation, sustainability, and community engagement to deliver value-driven products to our customers. And I am happy to share that at KPDL, we have consistently been developing and delivering contemporary, best-in-class living spaces, backed by quality social infrastructure and global standard technology enablement. Our partnership with Planet Smart City is in line with this objective of offering deep value proposition to our customers. Kiwale is a high potential micro-market in Pune and with Little Earth, we aim to reshape the residential dynamics in this micro-market, and capitalise on the opportunity to cater to the strong demand for quality housing."
Adding to it, Mr. Daniele Russolillo, Deputy CEO and COO, Planet Smart City said, "Planet Smart City is expanding its footprint further in Pune with state-of-the-art projects that are focussed to build a Smart community while promoting a unique community living experience. The response from homebuyers and residents in our other projects are validating our endeavour to harness technology for a socially inclusive and sustainable lifestyle. Kolte-Patil is known to deliver projects with unmatched quality, with our proprietary technology offered in the project, the return on investment becomes value driven for home buyers which goes beyond connectivity, infrastructure etc. We look forward to curating unique spaces that elevate the overall living experience."
****************
About Kolte-Patil Developers Limited
Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL; KPDL), incorporated in 1991, is a leading real estate Company with dominant presence in the Pune residential market, and growing presence in Mumbai and Bengaluru. Kolte-Patil is a trusted name with a reputation for high quality standards, design uniqueness, corporate governance, transparency and timely delivery of projects.
The Company has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of ~23 million square feet across Pune, Mumbai and Bengaluru. The Indian Green Building Council (IGBC) has certified several of the Company's projects. KPDL markets its projects under two brands: 'Kolte-Patil' (addressing the mid-income segment) and '24K' (addressing the premium luxury segment).
Consolidating its leadership position in Pune, the Company forayed into the Mumbai market in 2013 focusing on society re-development projects that have lower capital-intensity. The Company signed ten projects (two completed, three recently launched, five future projects) till date at prime locations across the city.
KPDL has seamlessly navigated varied economic cycles enabled by one of the lowest debt levels in the sector. The Company's long-term bank debt has been rated 'A+ / Stable' by CRISIL. In addition, the Company is also rated 'ICRA A+/Positive' by ICRA.
The Company's growth trajectory, internal processes and corporate governance practices have benefitted from partnerships with marquee financial institutions like KKR, JP Morgan Asset Management, Portman Holdings, ASK Capital, Motilal Oswal, ICICI Ventures and Planet Smart City.
Over the years, KPDL has received multiple awards and recognitions including Asia's Greatest Brand 2017 by AsiaOne, The Economic Times - The Game Changers of Maharashtra 2018, Times Realty Icons - Best Realtor 2019, CNN NEWS18 - Developer of the Year Residential 2019, ET Now – Most Trusted Brand India's 2019, Top Challengers 2019-20 by Construction World Global Awards Online, Trusted Brand of the Year, Times Realty, 2021-22 and Residential High Rise Architecture India- 2021, Asia Pacific Property Awards (IPA).
For more details on Kolte-Patil Developers Ltd., visit: www.koltepatil.com.
About Planet Smart City:
Founded in 2015 by real estate experts Giovanni Savio and Susanna Marchionni and chaired by physicist and entrepreneur Stefano Buono, Planet Smart City is a global, leading PropTech company that designs and builds neighbourhoods in countries with high housing deficits and works in partnership with real estate developers around the world to improve quality of life. Planet Smart City's mission is to create communities that respect local cultures and support inclusivity and sustainability. It does this through integrating innovative infrastructural, technological, and social innovation solutions into its projects.
The research, development and integration of these innovative solutions is undertaken by subsidiary Planet Idea, which operates through multidisciplinary Competence Centres in Turin (Italy) and Pune (India). The Planet Smart City model has been proven in Brazil where four projects are underway Smart City Laguna, Smart City Natal, Smart City Aquiraz and Viva!Smart) and in the United States where one multi-family smart project will be completely built within Q1-2023 (The District, Little Elm, Dallas, Texas)
In 2020, the business expanded into India, implementing over 40 smart solutions to both of our developing projects – Three Jewels and Universe at Life Republic – in Pune. In partnership with Kolte Patil Developers, our developments aim to add nearly 2,500 apartments to the market and improve smart living standards for young families and budding professionals in the region.
In Italy, the company collaborates with leading real estate developers in numerous smart social housing projects. Since its establishment, Planet Smart City has raised circa US \$176 million of capital from institutional and private investors to implement its ambitious growth plans, with the aim of selling 45,000 housing units by 2032.
For more info, visit - https://planetsmartcity.in/ ;https://planetsmartcity.com/
For further information please contact
Dipti Rajput, CFA VP – Investor Relations Kolte-Patil Developers Ltd. 1101, The Capital, Bandra Kurla Complex, Mumbai - 400 051 Tel: +91 74004 81432 Email: [email protected]
For Investor Queries: Shiv Muttoo +91 98335 57572 [email protected]
Ruchika Jain +91 986 964 8844 [email protected]
For Media Queries: Richa Seth +91 9930143531 [email protected]
Ashish Dwivedi +91 8830382648 [email protected]