Kolte Patil Developers approves merging with Tuscan Real Estate

The merger of Tuscan Real Estate, a wholly owned subsidiary, into Kolte Patil Developers was approved by the board of directors.

The board also authorized the split and company-wide integration of the retail operations of Kolte-Patil Properties, a wholly owned subsidiary formerly known as Kolte-Patil Redevelopment.

The arrangement is subject to obtaining the required legal and regulatory consents, as well as the consent of members and creditors.

The reason behind the split is that the restructuring will consolidate business operations and create operational synergies.

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