Kolte-Patil Developers appoints Hrishikesh Parandekar as new CEO

Parandekar joins from Alpha Alternatives and will spearhead the developer's next phase of growth, business expansion, operational excellence and institutional strengthening

Blackstone-backed real estate developer Kolte-Patil Developers has appointed Hrishikesh Parandekar as its chief executive officer (CEO), effective 24 August 2026.

 

The company, in a statement issued on Wednesday, noted that Parandekar will spearhead its next phase of growth, driving business expansion, operational excellence, institutional strengthening and long-term shareholder value.

 

Rajesh Patil, managing director, Kolte-Patil Developers, said, “For over three decades, Kolte-Patil has built a strong platform anchored in trust, execution and market leadership. As we enter our next phase of growth, scale and expansion, Hrishikesh’s deep real estate experience, strategic acumen and institutional perspective make him very well-suited to lead KPDL forward. His appointment strengthens our leadership team as we sharpen execution, accelerate growth and drive long-term value creation for shareholders.”

 

 

Parandekar joins Kolte-Patil from investment company Alpha Alternatives, where he was senior partner, leading strategic partnerships and real estate investing. Earlier, he also held leadership roles at McKinsey & Company, Morgan Stanley, Karvy Group, Ambit Holdings, and Sugee Group.

 

Parandekar said, “Kolte-Patil Developers has a strong brand, a differentiated market position and significant opportunity to scale across markets. I thank the Board for its trust and confidence. My focus will be on driving disciplined execution, accelerating growth, strengthening operational performance and building a scalable, high-performing organisation that delivers sustained long-term value for all stakeholders.”

 

Previously, Kolte-Patil reported a sales value of Rs 617 crore in the first quarter of the fiscal year 2027 (Q1FY27), flat year-on-year (Y-o-Y). Kolte-Patil’s average realisations for Q1FY27 improved 29 per cent Y-o-Y to Rs 9,442 per square foot. Its collections during the same period stood at Rs 715 crore, up 30 per cent Y-o-Y.

 

Earlier this month, the Pune-based developer added six society redevelopment projects across the Mumbai Metropolitan Region (MMR), with a combined estimated gross development value (GDV) of Rs 6,000 crore, to its portfolio.