Blackstone-backed Kolte-Patil Developers' Q2 housing sales decline 13%

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Blackstone-backed Kolte-Patil Developers reported housing sales of ₹670 crore for the second quarter of the financial year 2026 (Q2 FY26), down 13 per cent year-on-year (Y-o-Y). However, quarter-on-quarter (Q-o-Q), sales grew 9 per cent, aided by sustenance sales.

 

In Q2 FY26, the company sold an area of 0.86 million square feet (msf), down 17 per cent Y-o-Y but 2 per cent higher on a Q-o-Q basis.

 

The company’s sales realisation stood at around ₹7,823 per sq. ft., up 5 per cent Y-o-Y and 7 per cent Q-o-Q. The Pune-based developer’s collections also grew 8 per cent on both a Y-o-Y and Q-o-Q basis to ₹596 crore.

 

Rajesh Patil, managing director, Kolte-Patil Developers, said, “We remain optimistic about the demand scenario in the backdrop of economic growth, a benign interest rate environment, and declining inflation.”

 

Overall, in the first half of FY26 (H1 FY26), the company’s sales declined 13 per cent Y-o-Y to ₹1,286 crore. It sold an area of 1.7 msf, 15 per cent less compared to H1 FY25. Realisations, however, grew 2 per cent Y-o-Y to ₹7,582 per sq. ft. Meanwhile, collections declined marginally by 1 per cent to ₹1,146 crore.

 

During Q2 FY26, funds affiliated with Blackstone – a global investment manager – increased their holding to 40 per cent in the company.

 

Patil said, “This partnership marks an inflection point in the company’s growth journey as we move ahead with a shared vision to fast-track expansion, foster innovation, and strengthen leadership in the sector. Built on trust, innovation, and customer centricity, the company is well positioned to deliver sustained growth and create long-term value for all stakeholders.”

 

Additionally, in October 2025, the company acquired a 7.5-acre land parcel in Bhugaon, Pune, with an estimated saleable area of 1.9 msf and a gross development value (GDV) of ₹1,400 crore.