Latest news with #Kolte-PatilDevelopers
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Business Standard
10 hours ago
- Business
- Business Standard
Real estate institutional capital flows in H1CY25 decline by 37% Y-o-Y: JLL
JLL data shows institutional real estate investments declined to $3.1 billion in H1CY25 amid global uncertainty, with Blackstone's Kolte-Patil deal leading the pack Pune Institutional investments in real estate declined by 37 per cent year-on-year in H1CY25, totalling almost $3.1 billion (approximately $3.068 billion) across 30 deals, according to JLL. Investment transactions are experiencing extended timelines due to challenging international economic conditions and political uncertainties, with several capital deployment decisions likely shifting into 2026. 2024 marked a record year The calendar year 2024 saw investments reach a historic peak, marginally surpassing the previous record of $8.4 billion set in 2007. Blackstone leads with landmark transaction The standout transaction of 2025 has been Blackstone's significant entry into India's residential real estate sector, with approximately $214 million invested to acquire up to 66 per cent of Kolte-Patil Developers. 'A robust pipeline of deals exceeding $1 billion points to sustained activity ahead. The surge in activity from Reits and institutional players further highlights the maturity and depth of the Indian real estate investment landscape. The real estate market has consistently demonstrated its staying power, with annual investments surpassing the $5 billion threshold across the previous five years, and we anticipate that capital flows for calendar year 2025 will align with these established benchmarks,' said Lata Pillai, senior managing director and head of capital markets, India, JLL. Domestic capital gains ground Of the total institutional capital in the sector, domestic institutional participation accounted for a 32 per cent market share in H1CY25, while the remaining share came from foreign investors. In the past, the Americas have consistently been the highest contributors to investments. However, since 2023, there has been a significant decline in the share of investments from institutions domiciled in the US and Canada, JLL noted. APAC region leads inflows In H1CY25, the Asia-Pacific (APAC) region led investments with a 37 per cent share. MMR and Bengaluru collectively attracted 54 per cent of the total real estate investments. The residential segment accounted for 38 per cent of the total capital flow. 'Within residential investments, equity strategies commanded 58 per cent of capital flows in H1CY25, with debt instruments accounting for the remaining 42 per cent, extending the equity-focused approach that gained momentum in 2024,' said Dr Samantak Das, chief economist and head of research and REIS, India, JLL.
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Business Standard
11-06-2025
- Business
- Business Standard
Here's why Kolte-Patil Developers share is buzzing today, June 11; details
Kolte-Patil Developers share price: Real estate developer Kolte-Patil Developers share price rose as much as 3.21 per cent to hit an intraday high of ₹472 per share on Wednesday, June 11, 2025. At 11:00 AM, Kolte-Patil Developers shares were off day's high, and were trading 1.96 per cent to ₹466.25 per share. In comparison, BSE Sensex was trading 0.27 per cent higher at 82,613.62 levels. Why did Kolte-Patil Developers share price rise today? Shares of Kolte-Patil Developers rose on Wednesday after the Competition Commission of India (CCI) approved a proposal by BREP Asia III India Holding Co VII to acquire a 40 per cent stake in the company. BREP Asia III India Holding Co VII is an affiliate of funds managed by Blackstone Inc., a leading global alternative asset manager. The transaction will be carried out through a combination of share subscription and share purchase. As part of the deal, an open offer will also be made to public shareholders, as required under Sebi regulations, allowing them an opportunity to tender their shares. Depending on the response to the open offer, Blackstone's total shareholding in Kolte-Patil could potentially exceed 40 per cent. Earlier this year in March, Blackstone had expressed interest in acquiring up to a 66 per cent stake in the Pune-based developer, marking its strategic entry into India's residential real estate space. READ MORE Kolte-Patil Developers Q4 results Kolte-Patil Developers reported a consolidated net profit of ₹66.29 crore for the quarter ended March 2025 (Q4FY25), compared to a net loss of ₹26.18 crore in the same period last year (Q4FY24). The turnaround was driven by a rise in total income, which increased to ₹723.20 crore from ₹527.71 crore year-on-year. For the full financial year 2024-25, the company posted a net profit of ₹109.33 crore, reversing a net loss of ₹67.48 crore recorded in the previous year. Total income for the fiscal rose to ₹1,763.73 crore, up from ₹1,394.78 crore in 2023-24. About Kolte-Patil Developers Kolte-Patil Developers Ltd, incorporated in 1991 and headquartered in Pune, is a listed real estate company with a strong presence in the Pune residential market. The company is listed on both the NSE and BSE. Over the past three decades, it has developed more than 64 projects, including residential complexes, commercial spaces, and IT parks, covering a total saleable area of approximately 28 million square feet across Pune, Mumbai, and Bengaluru.
Time of India
11-06-2025
- Business
- Time of India
Blackstone gets CCI nod to acquire stake in Kolte-Patil Developers
NEW DELHI: Blackstone has received approval from the Competition Commission of India (CCI) for its proposed investment in Kolte-Patil Developers through a combination of preferential allotment and secondary share purchase. In March 2025, the company had announced about a proposed equity infusion via preferential allotment and secondary share acquisition by BREP Asia III India Holding Co VII , an affiliate of Blackstone. The transaction involves a two-pronged investment structure, cumulatively valued at approximately ₹1,167 crore. As part of the deal, Kolte-Patil Developers will issue 1,26,75,685 equity shares on a preferential basis to BREP Asia III India Holding Co VII. The shares, having a face value of ₹10 each, are priced at ₹329 per share, translating to a total infusion of ₹417.03 crore. The capital infusion will be executed through a share subscription agreement (SSA) signed between the company and Blackstone. In addition to the preferential issue, Blackstone will also acquire approximately 25.7% of Kolte-Patil's post-issue equity capital through a secondary market purchase from the existing promoters at the same share price, aggregating ₹750 crore in value. Post completion, Blackstone will hold 40% of Kolte-Patil's equity capital, excluding the open offer. Subject to full acceptance of its open offer for an additional 26% stake from public shareholders, its holding may rise to 66%. The transaction also includes a SSA and a shareholders' agreement (SHA) signed between Blackstone, Kolte-Patil, and select promoter group members. Following the deal, Blackstone will be reclassified as a promoter, sharing joint control of the company with the existing promoters, as per SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations. Post-transaction, the promoter group's shareholding will decline from 59.52% to 33.81%, with significant stake dilution by Rajesh Anirudha Patil, Naresh Anirudha Patil, and Milind Digambar Kolte, among others.
Hindustan Times
10-06-2025
- Business
- Hindustan Times
Blackstone gets CCI nod to acquire majority stake in Kolte-Patil Developers
New Delhi, Jun 10 (PTI) Fair trade regulator CCI on June 10 cleared global asset manager Blackstone's proposal to acquire a majority stake in Pune-based Kolte-Patil Developers. US-based Blackstone through its affiliate BREP Asia III India Holding Co VII Pte Ltd is acquiring a stake in Kolte-Patil Developers. "The combination envisages acquisition of 40 per cent shareholding in Kolte-Patil Developers Ltd by BREP Asia III India Holding Co VII Pte Ltd through a combination of share subscription and share purchase," the Competition Commission of India (CCI) said in a release. The transaction also envisages the acquisition of shares of the target under an open offer, it added. "CCI approves the acquisition of a certain shareholding in Kolte-Patil Developers Limited by BREP Asia III India Holding Co VII Pte. Ltd," the regulator said in a post on X. Kolte-Patil Developers, a listed company which is primarily engaged in the business of construction, development and sale of real estate. In March this year, Blackstone said that it will acquire a 40 per cent stake in realty firm Kolte-Patil Developers Ltd for ₹1,150 crore, entering into the Indian residential market after having significant exposure in office, shopping mall, warehousing and date centre verticals of real estate. The investment firm will acquire a 14.3 per cent stake for ₹417 crore through a preferential issue of equity shares and another 25.7 per cent stake from the promoters group for ₹750 crore. Thereafter, the global investment firm said it has launched an open offer to acquire up to 26 per cent stake in Kolte-Patil Developers from public shareholders for ₹758.56 crore. The global investment firm will acquire joint control along with the promoters over the company. Blackstone aims to double its exposure in India to $100 billion. The firm, which has been present in the country for the last two decades, has a $50 billion exposure to India, which includes its ongoing investments and the bets from which it has exited. In a separate release, CCI cleared the acquisition of certain issued and paid-up equity share capital of Goldi Solar by Havells India Ltd and the acquisition of 100 per cent partnership interest of Vama Inverters LLP and Goldi Energy LLP by Goldi Sun Pvt Ltd. Havells India is engaged in the manufacturing and sale of several products such as fans, lightings, switches, home appliances, and sale of solar modules, in India. Goldi Solar and its affiliates are engaged in the manufacturing and sale of solar modules and provision of engineering, procurement, and construction services for solar sector, and Vama is engaged in the sale of solar inverters in India. "CCI approves acquisition of certain shareholding of Goldi Solar Pvt Ltd by Havells India Ltd and acquisition of 100 per cent partnership interest of Vama Inverters LLP and Goldi Energy LLP by Goldi Sun Pvt Ltd," the competition watchdog said in a post on X. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
Economic Times
30-05-2025
- Business
- Economic Times
Buy Kolte-Patil Developers, target price Rs 480: HDFC Securities
Agencies Kolte-Patil Developers' key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Land and Scrap for the year ending 31-Mar-2023. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 723.20 crore, up 95.84% from last quarter Total Income of Rs 369.28 crore and up 37.04% from last year same quarter Total Income of Rs 527.71 crore. The company has reported net profit after tax of Rs 65.32 crore in latest quarter. The company's top management includes Patil, Navandar, Vanvari, Pendse, Watve, Joshi, Gurav, Patil, Kolte, Kolte, Patil, Patil, Barve. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares outstanding. Live Events Investment Rationale Kolte-Patil Developers reported a decent quarter with presales of 0.8msf (-22.3%/-1.2% YoY/QoQ), valued at Rs 6.3 billion (-15.1%/-7.2% YoY/QoQs), translating to an average realisation of Rs 7,888 psf (+9.3%/-6.0% YoY/QoQ). In FY25, KPDL launched projects worth Rs 40 billion (vs guidance of Rs 50 billion), with the miss largely attributable to approval delays and project phasing. We expect the Life Republic (LR) project to sustain its salesmomentum and strong cash flows, further improving the margin through better realizations. KPDL is also reassessing its launch pipeline strategy, while the pending Blackstone transaction signals the potential for future partnerships. The proactive management and expansion position the company for sustained growth. With strong cash flows, KPDL is a net cash positive company with comfortable liquidity. This may also pave the way for accelerated business development (BD) activity. Given strong BD and better than-expected price realisations (5-10% increase), HDFC Securities maintains BUY with a target price of Rs 480/share. Promoter/FII Holdings Promoters held 69.45 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.15 per cent, DIIs 5.59 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel HDFC Securities has a Buy call on Kolte-Patil Developers with a target price of Rs 480. The current market price of Kolte-Patil Developers is Rs 407.55. Kolte-Patil Developers, incorporated in 1991, is a Small Cap company with a market cap of Rs 3089.58 crore, operating in Real Estate Developers' key products/revenue segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Land and Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 723.20 crore, up 95.84% from last quarter Total Income of Rs 369.28 crore and up 37.04% from last year same quarter Total Income of Rs 527.71 crore. The company has reported net profit after tax of Rs 65.32 crore in latest company's top management includes Patil, Navandar, Vanvari, Pendse, Watve, Joshi, Gurav, Patil, Kolte, Kolte, Patil, Patil, Barve. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 8 crore shares Developers reported a decent quarter with presales of 0.8msf (-22.3%/-1.2% YoY/QoQ), valued at Rs 6.3 billion (-15.1%/-7.2% YoY/QoQs), translating to an average realisation of Rs 7,888 psf (+9.3%/-6.0% YoY/QoQ). In FY25, KPDL launched projects worth Rs 40 billion (vs guidance of Rs 50 billion), with the miss largely attributable to approval delays and project phasing. We expect the Life Republic (LR) project to sustain its salesmomentum and strong cash flows, further improving the margin through better realizations. KPDL is also reassessing its launch pipeline strategy, while the pending Blackstone transaction signals the potential for future partnerships. The proactive management and expansion position the company for sustained growth. With strong cash flows, KPDL is a net cash positive company with comfortable liquidity. This may also pave the way for accelerated business development (BD) activity. Given strong BD and better than-expected price realisations (5-10% increase), HDFC Securities maintains BUY with a target price of Rs 480/ held 69.45 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.15 per cent, DIIs 5.59 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
