Blackstone Secures CCI Approval for 40% Stake in Kolte-Patil Developers

A New Chapter in India’s Real Estate Landscape

In a move that signals growing confidence in India’s residential real estate market, the Competition Commission of India (CCI) has approved BREP Asia III India Holding Co VII—an affiliate of global investment giant Blackstone Inc.—to acquire a 40% stake in Kolte-Patil Developers Limited. This landmark acquisition is set to reshape the dynamics of the Indian real estate sector, bringing together a leading global asset manager and one of the country’s most respected developers.

The Path to Acquisition

The deal will be executed through a combination of share subscription and share purchase, providing Blackstone with a significant foothold in Kolte-Patil Developers. In line with SEBI regulations, the agreement also includes an open offer to public shareholders, granting them the opportunity to exit the company. Depending on the response, Blackstone’s stake could rise beyond 40%, further consolidating its position in the Indian market.

Kolte-Patil: Expanding Horizons

Kolte-Patil Developers, headquartered in Pune, has been rapidly expanding its presence in Mumbai and Bengaluru, establishing itself as a key player in India’s urban real estate landscape. Blackstone’s investment is not just a financial transaction—it is a strategic partnership that will leverage Kolte-Patil’s expertise and Blackstone’s global reach to unlock new opportunities in residential development.

Blackstone’s Strategic Vision

This acquisition marks a bold step in Blackstone’s strategy to diversify its real estate holdings in India. While the firm is already a major force in the commercial real estate segment, its foray into residential development—announced in March 2025 with plans to acquire up to 66% of Kolte-Patil—demonstrates a strong belief in the long-term growth of India’s housing market.

Financial Highlights: Resilience Amid Challenges

Despite a challenging quarter, Kolte-Patil Developers reported a net profit of ₹66.29 crore in Q4 of FY25, with total income surging 37% year-on-year to ₹723.2 crore. Sales, however, declined by 15% year-on-year and 7% quarter-on-quarter to ₹631 crore, largely due to delays in planned project launches. Yet, collections remained robust, rising 19% year-on-year and 24% quarter-on-quarter to ₹704 crore. The total volume of property sold dipped 23% year-on-year to 0.8 million square feet, underscoring the resilience of the company’s financial model.

A Vision for the Future

Blackstone’s investment in Kolte-Patil Developers is more than just a transaction—it is a vote of confidence in India’s urban growth story. As demand for quality residential properties continues to rise, this partnership is poised to set new benchmarks for innovation, transparency, and performance in the real estate sector.