Smallcap realty stock zooms 108% from March low; analysts see more upside

Shares of Kolte Patil Developers hit a 52-week high of ₹488.65, rallying 5 per cent on the BSE in Tuesday's intra-day trade in an otherwise subdued market.

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Kolte Patil Developers (KPDL) share price

 

Shares of Kolte Patil Developers (KPDL) hit a 52-week high of ₹488.65, as they rallied 5 per cent on the BSE in Tuesday’s intra-day trade in an otherwise subdued market. The stock price of the smallcap real estate company surpassed its previous high of ₹475.30 touched on June 23, 2025. It had hit a record high of ₹584 on January 9, 2024.

 

Shares of KPDL have more-than-doubled or zoomed 108 per cent from its 52-week low of ₹235.10 touched on March 4, 2025.

 

What’s driving the KPDL stock price?

 

In the past seven trading days, the stock price of KPDL has surged 12 per cent after the company’s board approved the allotment of 12.68 million equity shares to BREP Asia III India Holding Co VII Pte. Ltd by way of preferential allotment on a private placement basis. The company will be raising ₹417 crore by issuing shares at a price of ₹329 per share.

 

On March 17, 2025, Kolte-Patil Developers, a leading force in Pune’s real estate market with a growing footprint in Mumbai and Bengaluru, forged a transformative strategic partnership with global investment giant Blackstone.

 

Blackstone is set to acquire up to 66 per cent stake in KPDL for a total commitment of ₹1,800 crore. This includes 14.3 per cent stake through a preferential allotment of approximately 12.7 million equity shares, 25.7 per cent stake acquired from existing promoters amounting to ₹750 crore and an open offer to public shareholders for up to 26 per cent at ₹329 per share, aggregating to ₹760 crore.

 

This marks Blackstone's entry into India's residential real estate market, expanding its presence beyond commercial properties like offices and malls. Post-transaction, Blackstone will be classified as a promoter with joint control over KPDL, including rights to appoint directors and veto key decisions.

 

This strategic collaboration will empower KPDL to scale operations, enhance execution capabilities, and capitalize on India’s rapidly growing residential real estate sector. With a strong foundation, a debt-free balance sheet, and a shared vision for sustainable and scalable growth, Kolte-Patil and Blackstone are well-positioned to strengthen their presence in India's residential real estate sector, the company said.

 

Motilal Oswal Financial Services continues BUY rating on KPDL with a TP of ₹560 per share

 

KPDL reported stagnant pre-sales for the last nine quarters. Further, with Mumbai launches shifting to FY26, FY25 pre-sales declined 9 per cent to ₹2,790 crore. Yet, analysts at Motilal Oswal Financial Services expect the company to deliver a 31 per cent compounded annual growth rate (CAGR) in pre-sales over FY25-27.

 

The promoter overhang, with Blackstone’s entry, appears to be waning. As a result, the discount to NAV previously applied has been removed. Additionally, the spillover from project launches has been factored into FY26 estimates, the brokerage firm said.