Kolte-Patil Developers Ltd

Marking a significant entry into India’s residential real estate segment, global investment giant Blackstone has received regulatory clearance from the Competition Commission of India (CCI) to acquire a 40% stake in Kolte-Patil Developers Ltd. The Rs. 1,150 crore deal will be executed through a combination of preferential equity issuance and promoter stake purchase, followed by an open offer to public shareholders.

Kolte-Patil Developers Ltd. has reported a 15% decline in sales bookings for the fourth quarter of FY 2024-25, totaling Rs 631 crore compared to Rs 743 crore in the previous year. The decline in bookings is attributed to lower volumes, with a notable 23% drop in sales volume to 0.8 million square feet. Despite these setbacks, the company showed resilience with an 8% rise in average realisation per square foot and strong collections of Rs 2,432 crore for the full fiscal year.