Kolte-Patil Developers Limited (KPDL), a prominent real estate company, has announced significant changes to its board composition and leadership team, signaling a strategic move to drive its next phase of growth.

Key Board Changes

The company's Board of Directors, in a meeting held on November 11, 2025, approved the following changes:

• Appointment of New Independent Director: Ms. Avani Vishal Davda has been appointed as an Additional Director (Non-Executive and Independent) for a five-year term, subject to shareholder approval. Ms. Davda brings over two decades of experience across real estate, consumer, retail, and hospitality sectors.

• Resignation of Independent Director: The Board accepted the resignation of Mrs. Sudha Pravin Navandar as Independent Director, citing other commitments.

Leadership Team Restructuring

In addition to the board changes, KPDL announced modifications to its leadership team:

• Group CEO Departure: Mr. Atul Bohra has resigned from his position as Group Chief Executive Officer to pursue opportunities outside the organization.

Committee Reconstitution

Following these changes, KPDL has reconstituted several key committees:

1. Audit Committee: Ms. Avani Davda will now chair this committee, replacing Mrs. Navandar.
2. Nomination and Remuneration Committee: Ms. Davda will also lead this committee, taking over from Mrs. Navandar.
3. Corporate Social Responsibility Committee: Ms. Davda joins as a member, replacing Mrs. Navandar.

Strategic Implications

These changes come at a crucial time for Kolte-Patil Developers, following a recent strategic partnership with global investment firm Blackstone, which acquired a 40% stake in the company. The revamped governance structure aims to blend the promoter's proven execution track record with Blackstone's global expertise across asset classes.

Mr. Rajesh Patil, Managing Director of Kolte-Patil Developers, commented on the developments: "The Board and leadership changes underscore our ambitions for the future as well as our unwavering commitment to building a strong management team. With the transformative backing of Blackstone and healthy financials, Kolte-Patil Developers is poised for its next stage of growth."

Mr. Asheesh Mohta, Head of Real Estate (India) at Blackstone and Member of the Board of Directors at KPDL, added: "Our collaboration represents a long-term commitment to India's real estate sector. The enhancements to the Board and leadership structure will empower the company to seize emerging opportunities, accelerate its growth trajectory, and achieve our shared vision of building one of the most impactful and respected platforms in the industry."

These strategic moves are expected to strengthen KPDL's position in the real estate market and set the stage for its future expansion and growth initiatives.

Kolte-Patil Developers Limited (KPDL), a prominent real estate developer, has reported a consolidated net loss for the second quarter of fiscal year 2026, reflecting challenges in the real estate sector.

Financial Performance

For the quarter ended September 30, 2025, KPDL reported:

The company's revenue from operations saw a significant decline of 55.00% year-over-year, dropping to ₹13,866.00 lakhs from ₹30,829.00 lakhs in the same quarter of the previous fiscal year.

Loss and Profitability

KPDL reported a consolidated net loss of ₹1,114.00 lakhs for Q2 FY2026, compared to a profit of ₹1,034.00 lakhs in Q2 FY2025. This shift from profit to loss indicates a challenging quarter for the company.

Operational Highlights

The company's expenses, particularly in cost of services, construction, and land, increased substantially to ₹58,954.00 lakhs in Q2 FY2026 from ₹31,231.00 lakhs in Q2 FY2025. This increase in costs, coupled with the revenue decline, contributed to the quarterly loss.

Balance Sheet and Liquidity

As of September 30, 2025, KPDL's balance sheet showed:

• Total assets of ₹6,44,419.00 lakhs
• Total equity (including non-controlling interests) of ₹1,21,893.00 lakhs
• Current assets of ₹5,66,120.00 lakhs, indicating a strong liquidity position

Strategic Developments

During the quarter, KPDL completed a preferential allotment of 1,26,75,685 equity shares at ₹329.00 per share to BREP Asia III India Holding Co VII Pte. Ltd., raising ₹41,703.00 lakhs. This strategic move has strengthened the company's equity base and brought in a significant investor.

Market Position

Despite the quarterly loss, KPDL maintains a presence in the real estate sector. The company's inventory levels and ongoing projects suggest potential for future revenue generation, subject to market conditions and project execution.

Outlook

While the Q2 FY2026 results show a challenging period for Kolte-Patil Developers, the recent equity infusion and the company's established market presence provide a foundation for potential recovery. Investors and stakeholders will be watching closely to see how the company navigates the current market conditions and leverages its strengths in the coming quarters.