Kolte-Patil Developers signs ₹850-crore housing JD project in Pune | Company News – Business Standard

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Blackstone-backed Kolte-Patil Developers has signed a joint development deal for a residential project in Pune’s Bhugaon micro-market with a gross developable value of ₹850 crore

Earlier, in the first half of FY26 (H1 FY26), the company’s sales declined by 13 per cent year-on-year (YoY) to ₹1,286 crore | Representative Image

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Blackstone-backed Kolte-Patil Developers, a Pune-based real estate firm, has signed a joint development (JD) deal for a residential project in Pune with a gross developable value (GDV) of ₹850 crore.

The project is located in the Bhugaon micro-market of the city and has a development potential of about 1.1 million square feet.

The company believes that Bhugaon is an emerging residential destination in Pune with excellent urban connectivity. It noted that the acquired land parcel is surrounded by established premium markets such as Bavdhan and Kothrud and is adjacent to the Mumbai–Pune Expressway as well as Shivaji Nagar railway station.

Rajesh Patil, managing director, Kolte-Patil Developers, said, “This transaction aligns with our strategy to systematically strengthen our presence in high-potential micro-markets, benefitting from evolving demand trends. This project in Bhugaon marks the next step in expanding our portfolio through capital-efficient partnerships. We remain committed to creating highly amenitised, state-of-the-art residential spaces that deliver lasting value to customers. Leveraging our strong brand value and market expertise, we aim to develop a thoughtfully designed offering that supports Pune’s urban growth and meets the aspirations of today’s homebuyers.”

Earlier, in the first half of FY26 (H1 FY26), the company’s sales declined by 13 per cent year-on-year (YoY) to ₹1,286 crore. During the second quarter of FY26, funds affiliated with Blackstone, a global investment manager, increased their holding to 40 per cent in the company.

Additionally, according to Anarock, Pune saw a housing supply of approximately 67,955 units in 2025, an increase of 12 per cent over the previous year. Over 86 per cent of the new supply was in the sub-₹1.5 crore budget segment. On the other hand, about 65,135 units were sold in the city during the same period, recording a decline of 20 per cent over 2024.