Kolte-Patil enters Rs. 206.5 crore agreement with Marubeni Corporation (Japan)

Kolte-Patil agreement Marubeni Corporation

Pune, November 17th, 2022: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune-based real estate player with a growing presence in Mumbai and Bengaluru, has announced that it has entered into an agreement with Marubeni Corporation, Japan, for investment in Kolte-Patil’s residential project located in Pimple Nilakh micro market, Pune. Based on the agreement, Marubeni Corporation will invest Rs. 206.5 crores in the project and will be entitled to ~ 2.85 lakh sq. ft. of saleable area. KPDL will receive this amount in a single tranche, providing further liquidity to the company to invest in business development opportunities. The Pimple-Nilakh residential project, one of the priority launches in Kolte-Patil’s 24K premium luxury segment portfolio, has a total development potential of ~8 lakh sq. ft.

Commenting on this Mr. Yash Patil, Joint Managing Director, Kolte-Patil Developers Ltd. said“We are extremely happy to announce this agreement with Marubeni Corporation (Japan) for our Pimple Nilakh project. With this new collaboration, we look forward to the rapid development of another high-quality residential project in the premium luxury segment, complementing our larger, mass-market portfolio of offerings. Also, this investment will help fast-track our business development goals. We believe that this association with a leading global organization of repute once again highlights our organizational capabilities and governance standards. Our strong execution capabilities combined with the vast experience of Marubeni Corporation in developing real estate projects in both Japan and global markets will create synergies that further boost our position in the sector and drive value for our stakeholders.”

Adding to it Mr. Noritake Miyaguchi, General Manager, Overseas Real Estate Business Dept, Marubeni Corporation, said, “We are pleased to partner with Kolte-Patil, a leading real estate developer in Pune, in our second investment in the Indian market. We believe Kolte-Patil’s strong ability to understand and execute projects and their reputation built over decades of successful customer engagement will help us to consolidate our presence in the Indian real estate market. We look forward to this association to jointly create home spaces that improve the livability quotient for a large number of people 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 a dominant presence in the Pune residential market, and a 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, and five future projects) to 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 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 Marubeni’s “Global cross value platform,” wherein Marubeni will anticipate challenges and deliver innovative solutions by breaking down barriers as well as generating new value by 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 more details on Marubeni Corporation, visit https://www.marubeni.com/en

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