The Board of Directors of Kolte-Patil Developers Limited approved the re-appointment of Mr. Girish Vanvari as an Independent Director (Non-Executive) for a second term of five consecutive years. The term is set to commence on July 29, 2026, pending approval from the shareholders in the upcoming annual general meeting. Mr. Vanvari, who holds a DIN of 07376482, brings over 27 years of consulting experience, including a significant tenure as the National Leader for Tax at KPMG.

Senior Management Appointments

Simultaneously, the Board designated four individuals as Senior Management Personnel of the company, effective May 22, 2026. These appointments are aimed at strengthening the company's leadership across key operational and strategic functions.

Leadership Profiles

Mr. Anil Dwivedi, appointed as Chief Development Officer, brings over 30 years of experience in real estate and construction. He will lead delivery excellence, project governance, and the company's development agenda. Mr. Vishal Mariya takes on the role of Chief Human Resources Officer, reporting to the Managing Director. With 19 years of experience across FMCG, Real Estate, and EPC sectors, he will lead the Group's people and administrative functions.

Mr. Pranav Mehta has been named Chief Business Officer – Pune. He is responsible for the region's growth and profitability, leveraging 19 years of real estate experience. Mr. Mahendra Kumar Chauhan assumes the position of Business Head – Mumbai, spearheading operations and large-scale redevelopment initiatives with nearly two decades of industry experience.

Kolte-Patil Developers Limited announced that its Board of Directors has approved a scheme of amalgamation involving two wholly-owned subsidiaries. The meeting, held on May 22, 2026, sanctioned the merger of Kolte-Patil Lifespaces Private Limited and Kolte-Patil Smart Spaces Private Limited with the company under Sections 230 to 232 of the Companies Act, 2013.

The proposed merger is subject to necessary statutory and regulatory approvals, as well as the consent of members and creditors of the transferor and transferee companies. Both transferor companies are engaged in real estate development, while the transferee company is involved in the construction and development of residential and commercial complexes and IT Parks.

Rationale for the Merger

The Board outlined several strategic reasons for the amalgamation. The merger is expected to lead to more efficient utilization of resources and cash flows. It aims to generate synergies, result in cost savings, and increase the net worth of the transferee company. The move is intended to create a stronger base for future growth and improve the competitive position and flexibility of kolte patil developers .

Furthermore, the integration of business strategies is anticipated to enhance financial strength and consequently increase shareholder value. The amalgamation will also improve organizational capability through the pooling of human capital with diverse skills and experience.

Financial and Shareholding Details

The turnover of Kolte-Patil Developers Limited on a standalone basis for the quarter and year ended March 31, 2026, stood at ₹23,634 lakh and ₹65,834 lakh, respectively. In contrast, the turnover for both transferor companies was nil for the same periods.

As the transferor companies are wholly-owned subsidiaries, no new shares will be issued by the transferee company to their shareholders. All shares held by the transferee company in the transferor entities will stand cancelled upon the scheme becoming effective. Consequently, there will be no change in the shareholding pattern of the listed entity.

Key Merger Details