The company said over 600 apartments of the project were booked in 60 hours, translating to over ₹600 crore in bookings, which marks the strongest ever launch performance for the company.
The company said the entire project “The Reserve” is spread over 20 acre along the established Sinhagad Road corridor. It is a premium riverside residential development that offers scenic views of the NDA hills, expansive open spaces and thoughtfully designed residences, it said.
The project has a total potential saleable area of around 5 million square feet and an expected gross development value of ₹4,000 crore, the company said, adding that it will be launched in multiple phases.
The first phase “Vyana at The Reserve” offers premium two and three-bed residences with a curated range of lifestyle amenities spanning outdoor recreation, wellness and leisure spaces and sports facilities, Kolte-Patil Developers said.
The company said the launch strengthens the firm’s momentum post its largest-ever annual business development addition int the Mumbai Metropolitan Region (MMR) with six projects aggregating ₹6,000 crore in gross development value.
Shares of Kolte-Patil Developers are trading 3.5% higher on Thursday after the launch announcement at ₹458.25. The stock has remained flat over the last one month, but has gained 17% so far this year.Also Read: CDSL earnings may get a boost as per Jefferies but no upgrades in sight – Explained
