Kolte-Patil Developers has surged 7% to Rs 105 after the company said it has acquired a 30-acre land parcel at Kondhwa in Pune along with ASK Real Estate Special Opportunities Fund for Rs 160 crore.
The company will develop a residential housing project, Kolte-Patil Developers said in a filing to the BSE.
Meanwhile, the stock of realty developer has outperformed the market by appreciating 48% from Rs 71.25 on February 17, after the company entered into agreements for two redevelopment projects in Mumbai's western suburbs.
Both Mumbai suburban redevelopment projects have total area of around 600,000 sq ft, the company said in a release. The benchmark S&P BSE Sensex has gained about 10% during the same period.
The stock opened at Rs 99.85 and hit a high of Rs 106 on the BSE. A combined 730,000 shares changed hands on the counter so far on the BSE and NSE.
The company will develop a residential housing project, Kolte-Patil Developers said in a filing to the BSE.
Meanwhile, the stock of realty developer has outperformed the market by appreciating 48% from Rs 71.25 on February 17, after the company entered into agreements for two redevelopment projects in Mumbai's western suburbs.
Both Mumbai suburban redevelopment projects have total area of around 600,000 sq ft, the company said in a release. The benchmark S&P BSE Sensex has gained about 10% during the same period.
The stock opened at Rs 99.85 and hit a high of Rs 106 on the BSE. A combined 730,000 shares changed hands on the counter so far on the BSE and NSE.