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Realty firm Kolte-Patil Developers Ltd has posted a consolidated net profit of Rs 66.29 crore for the quarter ended March on higher income. Pune-based Kolte-Patil Developers Ltd had posted a net loss of Rs 26.18 crore in the year-ago period. Total income increased to Rs 723.20 crore in the fourth quarter of the last fiscal from Rs 527.71 crore in the corresponding period of the preceding year, according to a regulatory filing. During the full 2024-25, the company's net profit stood at Rs 109.33 crore as against a net loss of Rs 67.48 crore in the preceding year. Total income rose to Rs 1,763.73 crore last fiscal from Rs 1,394.78 crore in 2023-24. Kolte-Patil Developers has built over 68 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of more than 30 million square feet across Pune, Mumbai and Bengaluru.
Global investment firm Blackstone has launched an open offer to acquire up to 26 per cent stake in Pune-based realty firm Kolte-Patil Developers Ltd from public shareholders for Rs 758.56 crore. Last week, Kolte-Patil Developers announced that Blackstone would acquire a 40 per cent stake in the company for Rs 1,150 crore, entering into Indian residential market after having a significant exposure in office, shopping mall, warehousing and date centre verticals of real estate. Blackstone affiliated firm will acquire a 14.3 per cent stake for Rs 417 crore through a preferential issue of equity shares and another 25.7 per cent stake from the promoters group for Rs 750 crore. In a regulatory filing on Monday, Kolte-Patil Developers informed that Blackstone Group affiliated firm BREP Asia III India Holding Co VII Pte Ltd together with Blackstone Real Estate Partners Asia III L P and Blackstone Real Estate Partners (Offshore) X.TE-F (AIV) L P have launched an open offer for acquisition of