Kolte-Patil Developers Shareholders Approve Board Appointments via Postal Ballot

Kolte-Patil Developers Limited , a prominent real estate company, has received shareholder approval for key board appointments through a postal ballot process concluded on December 28, 2025, following earlier board decisions made in November.

Shareholder Approval for Director Appointments

The company's shareholders have formally approved two significant board appointments through postal ballot:

Position:	Director Details	Approval Type
Independent Director:	Ms. Avani Vishal Davda (DIN: 07504739)	Special Resolution
Non-Executive Director:	Mr. Dalip Charanjit Sehgal (DIN: 00217255)	Ordinary Resolution

Ms. Avani Davda's Appointment Details

Ms. Avani Vishal Davda has been appointed as an Independent Director for a five-year term from November 11, 2025, to November 10, 2030. The 46-year-old business leader brings over two decades of experience across real estate, consumer, retail, and hospitality sectors.

Qualification:	Details
Education:	Bachelor's in Commerce (Honors), MMS from NMIMS (Gold Medallist)
Current Role:	Strategic Advisor at Bain Advisory Network
Board Positions:	Emami Ltd, Mahindra Logistics
Past Leadership:	Tata Starbucks, TCPL, TAJ Hotels, Croma, Godrej Nature's Basket
Recognition:	Fortune US '40 Under 40 Leaders' (2013)

Ms. Davda will chair the Audit Committee and Nomination and Remuneration Committee, while also joining the Corporate Social Responsibility Committee, replacing Mrs. Sudha Pravin Navandar who resigned due to other commitments.

Mr. Dalip Sehgal's Profile

Mr. Dalip Charanjit Sehgal, aged 67, has been appointed as a Non-Executive and Non-Independent Director, not liable to retire by rotation. He holds a Bachelor's in Arts and MBA from the University of Delhi.

Experience:	Role Details
Current Position:	Executive Director & CEO, Nexus Select Mall Management Pvt Ltd
Previous Roles:	CEO Westerly Retail, Executive Director Hindustan Lever
Other Positions:	MD Godrej Consumer Products, MD Graviss Holdings
Board Role:	Independent Director, Indira IVF Hospital Limited

Strategic Context and Leadership Changes

These appointments follow earlier leadership restructuring, including the departure of Group CEO Mr. Atul Bohra and the strategic partnership with Blackstone, which acquired a 40% stake in the company.

Mr. Rajesh Patil, Managing Director, emphasized: "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 from Blackstone 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 and accelerate its growth trajectory."

These strategic moves strengthen KPDL's governance structure and position the company for future expansion in the real estate market.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.26%	-5.61%	-1.22%	-21.49%	+10.98%	+38.05%

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:

Metric	Q2 FY2026	Q2 FY2025	YoY Change
Revenue	₹13,866.00 lakhs	₹30,829.00 lakhs	-55.00%
Net Profit/(Loss)	₹(1,114.00) lakhs	₹1,034.00 lakhs	-

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.