Pune's Kolte-Patil to enter Mumbai, Blore real estate market

Pune's real estate company Kolte-Patil has set its eye on Mumbai and Bangalore. Kolte-Patil is the first real estate company in Pune to announce a dividend policy, 15-25 per cent of its Profit After Tax (PAT). Explaining the rationale behind entering these new cities Sujay Kalele, Group CEO, Kolte Patil said that the company is highly deleveraged, has hardly any debts and is a cash surplus company, giving them an advantage of trying new markets.

Also expansion in these new cities will help the company in margin expansion from 35 per cent to at least 40-45 per cent. He said the company is hoping to replicate its 15-25 PAT policy of dividend in the next 24 months in Bangalore. Obviously Bombay remains a very large market where the company cannot have that, he said.