Adding to its project portfolio in the country’s realty sector, the property developer, Kolte-Patil Developers, in a recent move has signed a 3.8 acre redevelopment project in Mumbai’s western suburb at Dahisar locality. Kolte-Patil’s economic interest in this project is around 4 lakh sqft., and the payments of the corpus fund, rental and other project expenses are linked to the approvals and project timelines. Its focus in Mumbai is on generating strong ROCE (Return of Capital Employed) and reducing its working capital cycle and has a diversified portfolio at strategic locations, and all projects are of an optimal size enabling quick turnover. Its foray in Mumbai will facilitate profit expansion and reduce working capital cycle for the company while providing synergies to the existing Pune operations, said CEO, Gopal Sarda.
📅Published on:
28 April 2017
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