Kolte-Patil Developers Limited has announced the signing of a joint development agreement for a residential project spanning approximately 5 acres in Bhugaon, Pune. This project is projected to have a Gross Developable Value (GDV) of approximately ₹850 crore and will cover about 1.1 million square feet.

Bhugaon is identified as an emerging residential area in Pune, offering a blend of natural surroundings and good connectivity to urban centers. The location is strategically situated near established premium markets like Bavdhan and Kothrud, and provides proximity to the Mumbai-Pune Expressway and Shivaji Nagar railway station. The project is expected to benefit from its closeness to major employment hubs and social infrastructure, including schools, hospitals, and shopping centers.

Mr. Rajesh Patil, Managing Director of Kolte-Patil Developers Limited, stated that this development aligns with the company's strategy to expand its footprint in high-potential micro-markets by leveraging capital-efficient partnerships. The company aims to create modern residential spaces that offer lasting value and contribute to Pune's urban development, catering to the aspirations of homebuyers.

Kolte-Patil Developers Limited, established in 1991, has a significant presence in the Pune residential market and operations in Mumbai and Bengaluru. The company has a track record of developing over 68 projects, covering more than 31 million square feet. In FY26, the company partnered with Blackstone, which acquired a 40% stake. Kolte-Patil markets its projects under the 'Kolte-Patil' and '24K' brands, focusing on mid-premium, premium, and luxury segments.