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Kolte-Patil Developers Ltd — Capital/Financing Update 2023
Nov 8, 2023
59438_rns_2023-11-08_22f58348-9a20-43e4-8818-7966e480c557.pdf
Capital/Financing Update
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To, To, The Assistant Manager, The General Manager, National Stock Exchange of India Limited BSE Limited, Listing Department, ‘Exchange Plaza’, Bandra Corporate Relationship Department, Kurla Complex, 1[st] floor, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Mumbai – 400051 Mumbai – 400001
Date: 08 November 2023
Sub: Press Release - Kolte-Patil enters into second agreement with Marubeni Corporation (Japan) for Rs. 110.9 crore.
ISIN: Equity: INE094I01018 and Debt: INE094I07049
Ref: NSE Symbol and Series: KOLTEPATIL and EQ BSE Code and Scrip Code - Equity: 9624 and 532924
BSE Security Code and Security Name – Debt: 974771 and 0KPDL33
Dear Sir/Madam,
Please find attached herewith Press release – “Kolte-Patil enters into second agreement with Marubeni Corporation (Japan) for Rs. 110.9 crore.”
This is for your information and record.
Thanking you,
For Kolte-Patil Developers Limited
VINOD EKNATH PATIL Digitally signed by VINOD EKNATH PATIL DN: c=IN, o=Personal, postalCode=411038, st=Maharashtra, serialNumber=031A4F8F7667DFD6F101AD302FF701154E7EC2E00D731A673EB62A5F34869955, cn=VINOD EKNATH PATIL Date: 2023.11.08 23:21:18 +05'30'
Vinod Patil Company Secretary and Compliance Officer Membership No. A13258
Encl: As above
KOLTE-PATIL DEVELOPERS LTD.
CIN : L45200PN1991PLC129428
Pune Regd. Office: 2nd Floor, Ci ty Point, Dhole Patil Road, Punc 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 Email id: [email protected]
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Kolte-Patil enters into second agreement with Marubeni Corporation (Japan) for Rs. 110.9 crore
Pune, November 8, 2023: Kolte-Patil Developers Limited ( BSE: 532924, NSE: KOLTEPATIL; KPDL) , a leading Pune based real estate player with growing presence in Mumbai and Bengaluru, has announced that it has entered into an agreement with Marubeni Corporation, Japan, for its Alora project (residential) located in Kalina, Santacruz, Mumbai. As a part of this agreement, Marubeni Corporation will invest Rs. 110.90 crore in the Alora project, entitling them to a total saleable area of 59,949 square feet in the project. The Alora project, was launched in February 2023, and has a total development potential of ~1.3 lakh sq. ft.
This agreement marks the second collaboration between KPDL and Marubeni Corporation, following a previous agreement for the residential project in Pimple-Nilakh micro market in Pune last year. The investment by Marubeni represents upfront commitment that will provide enhanced liquidity to expedite the business development goals and is in line with KPDL’s ongoing philosophy of creating capital-light structures with strong partners.
Commenting on this development, Mr. Yash Patil, Joint Managing Director, Kolte-Patil
Developers Ltd. said , "We are pleased to announce our second collaboration with Marubeni Corporation (Japan), a global conglomerate with vast experience in developing real estate projects in both Japan and the global markets. With our growing presence in the Mumbai real estate market, this agreement for the Alora Project in Santacruz, Mumbai, is another positive milestone that will enable us to expedite execution and further our business growth objectives. Our partnerships are a testimony of our focus on delivering quality living spaces, deep commitment to corporate governance and establishing KPDL as a leading real estate player across all our focus markets."
Commenting on this Mr. Noritake Miyaguchi, General Manager, Overseas Real Estate
Business Dept., Marubeni Corporation, said, "We are delighted to once again collaborate with Kolte-Patil, as we further increase our investment in the country’s real estate market. Through the Alora project, we aim to contribute to the development of sustainable living environments and to the local community. Kolte-Patil's strong track record in project execution and their long-standing reputation for customer satisfaction makes them an ideal partner for us. We look forward to the opportunity to collaboratively create residential spaces that enhance the quality of living for a substantial number of home buyers in India."
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 58 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of >26 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 redevelopment projects that have lower capital intensity. The company has signed thirteen projects (two completed, five on going, six 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+/Positive’, short-term bank loan facilities as A1 and nonconvertible debentures as A+/Positive by CRISIL.
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, IL&FS, Planet Smart City and Marubeni Corporation.
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, 202122 and Residential High Rise Architecture India2021, Asia Pacific Property Awards (IPA).
For more details on Kolte-Patil Developers Ltd., visit www.koltepatil.com.
About Marubeni Corporation
Marubeni Corporation is one of Japan’s largest trading companies with more than 160 years of history. Headquartered in Tokyo, Marubeni continues to expand its businesses across the globe, with a presence in over 65 countries and more than 130 branches and offices worldwide. Marubeni’s vision for the future is exemplified by the Marubeni’s “Global cross value platform,” wherein Marubeni will anticipate challenges and deliver innovative solutions by breaking down barriers as well as generate new value combining strengths across the Marubeni Group.
Marubeni is involved in the handling of products and provision of services in a broad range of sectors, with our 4300+ employees engaging in business as corporate staff or through one of our many Business Divisions: Lifestyle; ICT Business & Logistics; Food-I and Food-II; Agri Business; Forest Products; Chemicals; Metals & Mineral Resources; Energy; Power; Infrastructure Projects; Aerospace & Ship; Finance, Leasing & Real Estate Business; Construction, Industrial Machinery & Mobility; Next Generation Business Development; and Next Generation Corporate Development. In these areas, Marubeni’s business encompasses importing and exporting, as well as transactions in the Japanese market, as well as investment, development, and management on a global level.
For further information, please contact:
Dipti Rajput, CFA
VP – Investor Relations
Kolte Patil Developers Ltd. 1101, The Capital, BKC, Bandra (E), Mumbai – 400 051 Tel: +91 74004 81432
Shiv Muttoo / Smit Shah
Adfactors PR
Oasis Complex, Kamala Mills Compound, City Hall, Pandurang Budhkar Marg, Lower Parel West, Mumbai – 400013 Tel: +91 983 355 7572 / +91 98707 89596 Email: [email protected] / [email protected]