Kolte Patil Developers Limited, a prominent real estate company, has announced significant changes to its Board of Directors, effective August 11, 2025. The restructuring comes as part of a strategic move following a Share Purchase Agreement and Shareholders Agreement with BREP Asia III India Holding Co VII Pte. Ltd., an entity of Blackstone, dated March 13, 2025.

New Appointments

The company has appointed three new Additional Directors, all of whom are senior executives from Blackstone:

1. Tuhin Parikh (DIN: 00544890) - Head of Real Estate India at Blackstone
2. Asheesh Mohta (DIN: 00358583) - Head of Real Estate Acquisitions India at Blackstone
3. Mohit Arora (DIN: 08100136) - Managing Director in Real Estate Group at Blackstone

All three new directors will serve as Non-Executive and Non-Independent Directors.

Resignations

Simultaneously, six directors have stepped down from their positions:

1. Milind Kolte - Executive Director
2. Yashvardhan Patil - Joint Managing Director
3. Nirmal Kolte - Executive Director
4. Achyut Watve - Independent Director
5. Umesh Joshi - Independent Director
6. Dhananjay Barve - Independent Director

Board Leadership and Committee Changes

The board has appointed Girish Vanvari as the new Chairman. Additionally, various committees have been reconstituted:

1. Audit Committee: Now includes Mohit Arora as a member
2. Nomination and Remuneration Committee: Asheesh Mohta joins as a member
3. Stakeholders Relationship Committee: Mohit Arora appointed as Chairman, with Rajesh Patil and Girish Vanvari as members
4. Risk Management Committee: Asheesh Mohta inducted as a member

Implications and Compliance

The company has stated that the board's composition continues to comply with the requirements prescribed under the Companies Act, 2013 and SEBI Listing Regulations. All resigning directors have confirmed that there are no material reasons for their resignations beyond the terms of the agreement with Blackstone.

This significant board restructuring, with the inclusion of Blackstone executives, suggests a potential shift in the strategic direction of Kolte-Patil Developers Limited. The move may bring new perspectives and expertise to the company's operations in the real estate sector.

Investors and stakeholders will be keenly watching how this change in leadership influences the company's future growth and market position in the competitive Indian real estate market.

Kolte-Patil Developers Limited (KPDL), a prominent real estate developer, has announced significant changes in its business structure along with its financial results for the first quarter of fiscal year 2026.

Strategic Exits

The company has completed three key transactions:

1. Sale of 100% stake in Kolte-Patil Realtors Estate Private Limited to Anisha Family Ventures LLP for Rs 1.00 lakh.
2. Retirement from Regenesis Project Management LLP, where it held a 35% stake, receiving Rs 310.00 lakhs as consideration.
3. Exit of its wholly-owned subsidiary, Kolte-Patil Properties Private Limited, from Ayaan Vihan Land Development (42.5% stake) for Rs 0.25 lakhs.

All three transactions were concluded on August 6, 2025. The company stated that these exits are not material to its operations.

Q1 FY26 Financial Performance

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

Despite the muted financial results, the company maintained strong operational performance:

• Sales volume: 0.84 million square feet (5% growth over the previous quarter)
• Sales value: Rs 616.00 crore
• Collections: Rs 550.00 crore
• Operating cash flows: Rs 164.00 crore

Strategic Partnership with Blackstone

KPDL announced that Blackstone Funds acquired a 14.3% equity stake through preferential allotment, infusing Rs 417.00 crore into the company. This capital will primarily be used for growth, with about Rs 100.00-105.00 crores earmarked for general corporate purposes.

Future Outlook

Atul Bohra, Group CEO of KPDL, expressed optimism about the company's future:

• Launch pipeline: 6-7 million square feet across Pune and Mumbai regions for FY26
• Presales growth: Targeting over 30% year-on-year growth
• Revenue recognition: Expected to show steady growth due to upcoming project completions

The company maintains a positive outlook on the real estate sector, citing factors such as lower interest rates, improved liquidity, stable inflation, and evolving consumer aspirations.

As KPDL moves forward with its growth strategy and new partnership, the company remains focused on scaling launches, accelerating execution, and delivering value across all stakeholder groups in the strengthening housing cycle.