Kolte Patil Developers creates residential development platform with Planet Smart City.

Kolte Patil Developers recently announced creation of a residential development platform with Planet Smart City, the global leader in smart affordable housing, to develop 15,000 housing units.

This residential platform follows the success of Universe, at Sector R10, Life Republic, which was the first co-development between KPDL and Planet Smart City. It will focus primarily on development of smart aspirational housing projects in Pune, Mumbai and Bengaluru. The partners will endeavour to grow the platform over a period of time based on suitable structures as mutually agreed upon as the right opportunities continue to emerge.

The platform will enable KPDL to capture opportunistic and structured outright land purchase transactions while maintaining a healthy balance sheet. It is expected to generate substantial earnings in the coming years, which will contribute significantly to the company's growth.

BS