New Delhi, Aug 1 (PTI) Realty firm Kolte-Patil Developers Ltd has bagged two society redevelopment projects in Mumbai and expects a sales revenue of Rs 950 crore.

In a regulatory filing, the Pune-based company informed that it has signed two new society re-development projects in the Western suburbs of Mumbai.

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"With total saleable area of around 4.8 lakh square feet, these projects have a total topline potential of around Rs 950 crore," it added.

These new additions signify the company's strategic move towards diversification beyond Pune, strengthening its presence in Mumbai Metropolitan Region (MMR) and taking forward the strong momentum in FY24.

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"Both these projects are strategically located in the high potential micro-market of Bangur Nagar in Goregaon (West) and bring the company's tally of projects in the Mumbai Metropolitan Region (MMR) to 14 projects," it added.

In April-May 2023, the company said it acquired four projects, two in Pune and two in Mumbai, with the total development potential of around 2.6 million square feet and topline potential of Rs 2,500 crore.

"With the two new additions in MMR, the new business development deals now aggregate a topline potential of Rs 3,450 crore. The company is continuously assessing multiple business development and expansion prospects in its targeted markets through innovative, capital-efficient deals," Kolte-Patil said.

The company has developed and constructed over 58 projects, including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of around 26 million square feet across Pune, Mumbai and Bengaluru.

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