Synopsis:
BREP Asia III India Holding has launched an open offer to acquire up to 2.31 crore (26%) of the equity shares of the company.
The shares of the Realty company, which specializes in real estate development, primarily focusing on residential and commercial properties in India, with a particular focus on medium and high voltage applications, are in focus upon the open offer by BREP Asia III India Holding to acquire 26 percent shares of the company
With a market capitalization of Rs. 3,661.60 Crores on Wednesday, the shares of Kolte-Patil Developers Ltd jumped by upto 1.26, making a high of Rs. 413.00 compared to its previous closing price of Rs. 407.85.
Kolte-Patil Developers Ltd, engaged in real estate development, primarily focusing on residential and commercial properties in India, has announced the recommendation of its Committee of Independent Directors (IDC) regarding an open offer for the acquisition of up to 23,056,825 fully paid-up equity shares, representing 26% of the company’s Emerging Voting Capital.
The acquisition is being made by BREP Asia III India Holding Co VII Pte. Ltd. (the Acquirer) along with its associates, Blackstone Real Estate Partners Asia III L.P. (PAC 1) and Blackstone Real Estate Partners (Offshore) X.TE-F (AIV) L.P. (PAC 2).
The offer is in line with the Securities and Exchange Board of India (SEBI) Takeover Regulations. The recommendations of the IDC were published in multiple newspapers on August 19, 2025, including Financial Express (English), Jansatta (Hindi), Navshakti (Marathi, Mumbai edition), and Loksatta (Marathi, Pune edition).
Financials & Others
The company’s revenue declined by 72 percent from Rs. 350.29 crore to Rs. 96.81 crore in Q1FY24-25. Meanwhile, the Net profit declined from Rs. 6.23 crore to a loss of Rs. 16.99 crore during the same period.
Kolte-Patil Developers has been a pioneer in redefining living spaces for over 30 years, since its inception in 1991. With a diverse portfolio, the company has developed over 68 residential complexes, IT parks, integrated townships, and commercial properties, covering more than 30 million square feet of area delivered.
Currently, it has around 36 million square feet under execution, approval, and in its land bank. The company’s projects span multiple geographies, like Pune, Mumbai, Bengaluru, catering to various brand segments like Mid-premium – Premium, Premium Luxury, Township and are known for their strong legacy and commitment to excellence.
The company is positioned for substantial multi-year growth with a project portfolio of 35.5 million square feet, spanning ongoing, unsold, under approval, and land bank properties. The portfolio has a potential top-line value of approximately ₹28,500 crore, including the partner’s share.
The distribution of projects is as follows: Pune leads with 3.2 million square feet of ongoing projects, 8.6 million square feet under approval, and 21.4 million square feet in its land bank. Mumbai contributes 0.2 million square feet ongoing, 1.0 million square feet under approval, and 0.8 million square feet in its land bank. Bengaluru accounts for 0.1 million square feet ongoing and 0.2 million square feet under approval, with no land bank projects.
Written by Sridhar J
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