Pune Realtor Kolte-Patil Developers partners with Global Investment Giant Blackstone

Kolte-Patil Developers, a prominent player in the Pune real estate industry with expanding presences in Bengaluru and Mumbai, has established a game-changing strategic alliance with international investment behemoth Blackstone. This collaboration marks a significant turning point in KPDL's development, putting the business in a position to take advantage of Blackstone's worldwide experience and financial stability to spur innovation, expand quickly, and solidify its position as the industry leader in the vibrant Indian real estate market.

• For a commitment of Rs. 1,800 crore, Blackstone will purchase up to a 66% share in KPDL. To raise Rs. 417.03 crore, Kolte-Patil Developers (KPDL) will give Blackstone Real Estate funds about 1.27 crore equity shares, or 14.3% of the total.

b. Current promoters will sell 25.7% of KPDL's post-issue equity share capital to Blackstone Real Estate funds. Approximately 40% of KPDL will be owned by Blackstone Real Estate funds after the purchase.

c. At the same time, Blackstone Real Estate funds will conduct an open offer to purchase an additional 26% from the general public.

The partnership combines Blackstone's unmatched global investment acumen, financial strength, and vast experience across a variety of real estate asset classes in India, including office, retail, warehousing, and data centers, with KPDL's three-decade legacy of market expertise and execution excellence.

KPDL will be able to expand operations, improve execution skills, and take advantage of India's quickly expanding residential real estate market thanks to this strategic partnership. Kolte-Patil and Blackstone are in a good position to increase their market share in India's residential real estate market because of their solid foundation, debt-free balance sheet, and common goal of sustainable and scalable expansion in real estate sector.

Commenting on this development, Rajesh Patil, Chairman, Kolte-Patil Developers said, “This landmark partnership with Blackstone marks a defining moment in Kolte-Patil Developers’ growth story and our commitment to creating long-term value for our stakeholders. Blackstone’s investment is a testament to the strength of our brand and execution capabilities. 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".