Kolte – Patil Developers Ltd. - a residential development platform with the Planet Smart City to develop 15,000 housing units. The joint entity will primarily focus on developing ambitious smart home projects in Pune, Mumbai, and Bengaluru.
"Like many Southeast Asian countries, India has a great opportunity in many states as it has a vast potential, mainly for viable operators to provide long-term and future-proof solutions. We look ahead to have our relationship with Kolte - Patil and expanding our presence in India, Giovanni Savio, and the Global CEO of Planet Smart City. Both partners will seek to grow the platform over a period of time-based on appropriate structures as mutually agreed upon as appropriate opportunities continue to emerge.
"Our joint platform will now allow us to expand the portfolio of projects in our target markets of Pune, Mumbai, and Bengaluru based on our philosophy of providing capital-efficient land," said Yashvardhan Patil, group CEO, Kolte-Patil Developers. The platform will enable Kolte-Patil Developers Ltd to have structured land purchase transactions directly for maintaining a healthy balance sheet. Expansion in joint entity's plan includes several projects to the platform over the next three years in Mumbai, Pune, and Bengaluru.
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