Kolte-Patil Partners with Blackstone to Drive Residential Growth

17 Mar 2025 CW Team

Kolte-Patil Developers (KPDL) has entered a strategic partnership with global investment firm Blackstone to accelerate growth in India’s residential real estate sector. The deal includes Blackstone acquiring up to 66 per cent of KPDL’s stake for Rs 18 billion (bn).

As part of the agreement:

KPDL will allot 1.27 crore equity shares (14.3 per cent) to Blackstone Real Estate funds, raising Rs 4.17 bn.
Blackstone will acquire 25.7 per cent of KPDL’s post-issue equity from promoters, bringing its stake to 40 per cent.
An additional 26 per cent stake will be acquired through an open offer to the public.

Rajesh Patil, Chairman, KPDL, called the partnership a “defining moment” for the company’s growth, enabling it to scale operations and unlock value. Asheesh Mohta, Head of Real Estate Acquisitions – India, Blackstone, emphasised the firm’s strategic entry into India’s residential sector, citing strong demand and urbanisation trends.

With Blackstone’s global expertise and KPDL’s execution strength, the partnership aims to enhance scalability and expand their presence in India’s residential market.

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