Blackstone takes 66% stake in developer Kolte-Patil for ₹1,800 cr
Global investment firm Blackstone has announced a strategic partnership with Kolte-Patil Developers Limited (KPDL), acquiring up to 66 per cent stake in the Indian real estate company for approximately ₹1,800 crore ($240 million).
The shares of KPDL were trading at ₹346, down by ₹0.65 or 0.19 per cent on the NSE today at 11.45 am.
The transaction, announced on March 17, 2025, includes Blackstone Real Estate funds acquiring a 14.3 per cent stake through new equity shares, 25.7 per cent from existing promoters, and potentially an additional 26 per cent through a public open offer.
KPDL has established itself as a prominent developer in Pune with expanding operations in Mumbai and Bengaluru. The company has completed over 64 projects covering more than 28 million square feet.
Rajesh Patil, Chairman of KPDL, called the partnership “a defining moment” that will drive “orbital transformation” in the company. Asheesh Mohta, Head of Real Estate Acquisitions for Blackstone in India, stated the investment marks their “strategic entry in the Indian residential sector” and highlighted the growth potential driven by India’s expanding middle class and rapid urbanization.
The deal represents Blackstone’s first major foray into India’s residential real estate market, adding to its existing investments across office, retail, logistics, hotels, and data centers in the country.
