Pune based Real Estate Company Announces Q1 FY26 Update: Rs 616 Crore Sales, 14.3% Equity Acquired by Blackstone-Backed Entity

Kolte-Patil Developers Limited, a leading Mid-Cap real estate developer based in Pune with operations in Mumbai and Bengaluru, announced its operational update for the first quarter of fiscal year 2026, ended June 30, 2025. The company reported a sales volume of 0.84 million square feet in Q1 FY26, reflecting a 5 per cent quarter-on-quarter increase. Sales value for the quarter stood at Rs 616 crore, while collections reached Rs 550 crore.

Compared to Q4 FY25, the sales value declined slightly by 2.3 per cent from Rs 631 crore. On a year-on-year basis, it dropped 13.3 per cent from Rs 711 crore in Q1 FY25. Sales volume was down 12.5 per cent from 0.96 million square feet reported in the same period last year. The average realisation per square foot came in at Rs 7,337, showing a 7.2 per cent decrease from Rs 7,904 in Q4 FY25 and a 0.9 per cent dip from Rs 7,407 in Q1 FY25.

Collections also declined 21.8 per cent from Rs 704 crore in the previous quarter and 10.1 per cent from Rs 612 crore in Q1 FY25. The company attributed the quarter’s sales volume performance to sustenance inventory, with Life Republic Integrated Township contributing 0.53 million square feet.

A key strategic event during the quarter was the acquisition of a 14.3 per cent equity stake in Kolte-Patil Developers by BREP Asia III India Holding Co VII Pte. Ltd., an entity affiliated with Blackstone Funds. This investment, made through a preferential allotment of equity shares on June 23, 2025, strengthens the company's financial position and signals long-term confidence from global investors.

Commenting on the results, Group CEO Mr. Atul Bohra noted the stable operational performance amid sustained demand and expressed optimism for FY26, supported by an active launch pipeline in Pune and Mumbai. He also highlighted the significance of the new strategic partnership with Blackstone.

On a YTD basis, the stock price has jumped over 27 per cent while in the last 12 months it is up by 8.28 per cent.

Kolte-Patil Developers Ltd., founded in 1991, has completed more than 68 projects across Pune, Mumbai, and Bengaluru, spanning over 30 million square feet. It operates under two key brands—‘Kolte-Patil’ for mid-income housing and ‘24K’ for luxury residences. Since its Mumbai foray in 2013, KPDL has taken a capital-light approach through society redevelopment and has signed 14 such projects. The company is known for its disciplined capital structure, low debt levels, and strategic partnerships with global financial institutions like KKR, JP Morgan Asset Management, and Blackstone Funds. Its long-term bank debt carries a CRISIL rating of AA-/Stable.

Disclaimer: The article is for informational purposes only and not investment advice.