Kolte-Patil Developers has entered into agreements for redevelopment projects of two housing societies in Bangur Nagar locality of Goregaon West, Mumbai. The development projects with a total saleable area of around 4.8 lakh sq. ft. have an estimated revenue potential of Rs 950 crore.

These new additions are a part of the company's growth-oriented strategy and will help in achieving business diversification outside its core market Pune. While taking forward the strong momentum in FY24, it will take the company’s tally in the Mumbai Metropolitan Region (MMR) to 14 projects. Bangur Nagar boasts a well-developed social infrastructure, and offers connectivity to different areas of Mumbai and to the corporate hub in Malad.

Between April and May, 2023 the company acquired four new projects, two in Pune and two in Mumbai, with the total development potential of nearly 2.6 million sq. ft. With the two new additions in MMR, the deals now aggregate a topline potential of Rs 3,450 crore.

The company is continuously exploring business development and expansion prospects in its target markets and has so far developed and constructed over 58 projects including residential complexes, integrated townships, commercial complexes, and IT Parks across Pune, Mumbai, and Bengaluru.