Kolte-Patil fixes Rs.193 cr for realty project

In order to complete its real estate project, Kolte-Patil Developers', a joint venture company Kolte-Patil I-Ven Townships (Pune) (KPIT) has secured Rs.193 crore from global investment firm KKR. The former is developing Life Republic, a 383-acre township located in Pune's Hinjewadi area. In this connection, the company in question is a joint venture between Kolte-Patil and ICICI Venture Funds Management Company, Director, Real Estate, KKR, Ashish Khandelia said. He added that his company is looking forward to extend relationship with Kolte-Patil and exploring more opportunities with the group in the future. The company will be utilizing the funds to attain financial closure of the project and will also use funds for working capital and reducing cost of debt, Kolte-Patil said in an official statement.

Published: 29 December 2017