Kolte Patil clarifies on news item
With reference to the news item appearing in a leading financial daily titled “Kolte-Patil plans Rs 3,650-cr realty investment in 2008″, Kolte Patil Developers Ltd has clarified to BSE that the projects for which the Company is planning to invest Rs 3650 crores as reported by the media, to develop large scale residential and integrated township projects, IT SEZ (its part of integrated township) in Pune, were disclosed as land banks in the RHP. There are no new projects or new plans disclosed. These are part of integrated township and Joint venture projects with ICICI Venture and K2 Properties.
Further the Company has informed that, over a period of 7-9 years, total Rs 3650 crores will be spent as project cost.
Tags: Kolte Patil