March 17, 2025: Kolte-Patil Developers Limited (KPDL), who have a strong presence in Pune and growing footprint in Mumbai and Bengaluru, has forged a strategic partnership with global investment company Blackstone. Under this partnership, KPDL will leverage Blackstone’s global expertise and financial strength to accelerate expansion and drive innovation.
According to the partnership, Blackstone will acquire up to 66% stake in KPDL for a commitment of Rs 1,800 crore.
- KPDL will allot 1.27 crore equity shares (14.3%) to Blackstone Real Estate funds, raising Rs. 417.03 crore.
- Blackstone Real Estate funds will acquire 25.7% of KPDL’s post-issue equity share capital from existing promoters. Following the transaction, Blackstone Real Estate funds will hold approximately 40% ownership in KPDL.
- Simultaneously, Blackstone Real Estate funds will acquire additional up to 26% from the public through an open offer.
Rajesh Patil, chairman, Kolte-Patil Developers Ltd. said, “Aligning with one of the world’s most respected investment firms, will drive an orbital transformation in KPDL and support value unlocking. We are excited about the opportunities ahead as we combine our market expertise with Blackstone’s global governance benchmarks.”
Asheesh Mohta, head of real estate acquisitions – India, Blackstone, added, “We are pleased to partner with Kolte-Patil Developers, a well-established developer; and continue our commitment of investing in Indian real estate. Blackstone has built leading platforms across office, retail, logistics, hotels and data centers, and this investment marks our strategic entry in the Indian residential sector. The sector is underpinned by strong tailwinds including a growing middle-class population and rapid urbanization. We see potential to serve Indians increasingly looking for high-quality homes and continue our mission of investing in and improving residential properties around the world.”
This strategic collaboration will empower KPDL to scale operations, enhance execution capabilities, and capitalise on India’s rapidly growing residential real estate sector. With a strong foundation, a debt-free balance sheet, and a shared vision for sustainable and scalable growth, Kolte-Patil and Blackstone are well-positioned to strengthen their presence in India’s residential real estate sector.
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