Kolte-Patil Developers shares jump 9% as Pune project sees Rs 600 crore sales in 60 hours

Shares of Kolte Patil Developers Ltd jumped nearly 9 per cent in Thursday's trade after the real estate developer said its project 'Vyana at The Reserve' in Pune recorded sales of over Rs 600 crore within 60 hours, marking its strongest-ever launch performance for the company.

Kolte-Patil said more than 600 apartments were booked at the project, which is located in Vadgaon, Pune. Kolte-Patil said the sales velocity reflected strong customer confidence and reinforced its position in the Pune market.

Following the development, shares of Kolte-Patil Developers surged 9.39 per cent to hit a high of Rs 486 on Thursday over their previous close of Rs 444.30. The stock had earlier opened at Rs 461 apiece.

Kolte-Patil said the project is part of 'The Reserve', a premium riverside residential development spread across 20 acres along the Sinhgad Road corridor in Pune. The overall project has a potential saleable area of around 5 million square feet and an expected Gross Development Value (GDV) of Rs 4,000 crore. It will be launched in multiple phases, with the first phase, 'Vyana at The Reserve', offering premium two- and three-bedroom residences.

Kolte-Patil said the project offers views of the NDA Hills, open spaces and amenities focused on outdoor recreation, wellness, leisure and sports.

The latest launch also adds to the company's recent business-development momentum. Kolte-Patil said it had recorded its largest-ever annual business development addition in the Mumbai Metropolitan Region, with six projects aggregating Rs 6,000 crore in GDV.

Commenting on the launch, Kolte-Patil Developers CEO Hrishikesh Parandekar said, "Delivering our strongest-ever launch performance with this level of absorption reflects not only the scale of demand in Pune, but also our ability to enter emerging sub-markets with conviction, apply our execution expertise, and deliver distinctive performance at scale."

Blackstone partnership

Kolte-Patil Developers, incorporated in 1991, has a presence across Mumbai, Pune and Bengaluru. The company said in its profile that it entered into a strategic partnership with global investment firm Blackstone in FY26, with Blackstone acquiring a 40 per cent stake through a two-phase transaction involving a preferential allotment and a secondary acquisition from existing promoters.