Kolte Patil Developers advances on strong demand for Pune residential project

Kolte Patil Developers rose 2.78% to Rs 455.10 after the real estate developer announced that its latest residential project in Pune generated sales of over Rs 600 crore within 60 hours of launch.

The company said more than 600 apartments were booked at ?Vyana at The Reserve? in Vadgaon, Pune, marking its strongest-ever launch performance. The project is part of ?The Reserve?, a premium riverside residential development along the Sinhgad Road corridor.

Spread across 20 acres, The Reserve has a total potential saleable area of about 5 million square feet and an expected gross development value (GDV) of Rs 4,000 crore. The project will be developed and launched in multiple phases.

The first phase, Vyana at The Reserve, offers 2- and 3-bedroom residences along with amenities covering outdoor recreation, wellness, leisure and sports.

The company said the launch adds to its recent business development momentum, following the addition of six projects in the Mumbai Metropolitan Region with an aggregate GDV of Rs 6,000 crore.

Kolte Patil Developers said the launch performance reflects customer demand in Pune and supports its strategy of expanding into new micro-markets.

Kolte Patil Developers, incorporated in 1991, is a real estate developer with operations across Mumbai, Pune and Bengaluru. In FY26, Blackstone acquired a 40% stake in the company through a two-phase transaction involving a preferential equity allotment and a secondary share acquisition from existing promoters. The company has developed over 68 projects covering more than 33 million square feet across residential, commercial, township and IT Park segments, and markets projects under the ?Kolte-Patil? and ?24K? brands. It entered the Mumbai Metropolitan Region in 2013, focusing on society redevelopment projects, and has signed 19 projects in the city.

On a consolidated basis, the company's adjusted net profit stood at Rs 146.26 crore in Q1 FY27, compared with an adjusted net loss of Rs 16.99 crore in Q1 FY26 and Rs 15.98 crore in Q4 FY26. Net sales rose 1,016.5% YoY and 269.9% QoQ to Rs 919.54 crore during the quarter.

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