Real Estate Developers Kolte Patil Enter into an INR 206 Cr Plus Agreement Japanese Marubeni Corp For Pimple Nilakh Project in Pune

Kolte-Patil Developers (KPDL), a Pune-based real estate company with offices in Mumbai and Bengaluru, has announced an agreement with Marubeni Corporation, Japan, for investment in Kolte-Patil's residential project in Pune's Pimple Nilakh micro-market.

The agreement stipulates that Marubeni Corporation will invest Rs 206,500,000,000 in the project and will receive 2,850,000,000 square feet of saleable space. This cash will be provided to KPDL in one lump sum, giving the company more liquidity to invest in new expansion opportunities. The Pimple-Nilakh residential project, which has a total development potential of 8 lakh sq. ft., is one of the key releases in Kolte-24K Patil's premium luxury sector portfolio.

Marubeni Corporation will make an investment in Kolte-residential Patil's Pimple Nilakh micromarket project in Pune.

Co-managing director of Kolte-Patil Developers Yash Patil stated that they believe that their relationship with a prominent international organisation once again demonstrates their organisational strengths and governance standards. He belives that their exceptional execution skills coupled with Marubeni Corporation's extensive expertise in developing real estate projects in Japan and international markets will produce synergies that further strengthen their real estate industry position and enhance shareholder value.

Noritake Miyaguchi, general manager of Marubeni Corporation's overseas real estate business department, stated that they believe Kolte-strong Patil's ability to understand and execute projects, as well as their reputation built over decades of successful customer engagement, will aid them in consolidating their position in the Indian real estate market.