Kolte-Patil Developers, a real estate developer backed by Blackstone, has appointed Hrishikesh Parandekar as its Chief Executive Officer (CEO) effective August 24, 2026.
The company stated in a release on Wednesday that Parandekar will lead the next phase of the company's development, contributing to business expansion, improved operational quality, strengthening the institutional base, and increasing long-term shareholder value.
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Rajesh Patil, Managing Director of Kolte-Patil Developers, noted that Kolte-Patil has built a strong foundation over more than three decades based on trust, project execution, and market leadership. He emphasized that Parandekar's experience in real estate, strategic thinking, and institutional perspective make him an ideal candidate to lead KPDL in its next phase of growth and expansion. His appointment strengthens the company's leadership team in the process of refining task execution, accelerating growth, and creating long-term value for shareholders.
Parandekar joins Kolte-Patil from the investment firm Alpha Alternatives, where he served as a Senior Partner overseeing strategic partnerships and real estate investments. Previously, he also held executive positions at McKinsey & Company, Morgan Stanley, Karvy Group, Ambit Holdings, and Sugee Group.
Parandekar stated that Kolte-Patil Developers possesses a strong brand, a unique market position, and significant opportunities for scaling across various markets. He thanked the Board of Directors for the trust and confidence placed in him, adding that his priority will be ensuring disciplined execution, accelerating growth, strengthening operational metrics, and building a scalable, high-performing organization that delivers sustainable long-term value to all stakeholders.
Previously, Kolte-Patil reported sales of ₹617 crore in the first quarter of fiscal year 2027 (Q1FY27), which remained flat compared to the previous year. Kolte-Patil's average revenue for Q1FY27 increased by 29 percent year-over-year, reaching ₹9,442 per square foot. Collections for the same period amounted to ₹715 crore, a 30 percent increase from the previous year.
At the beginning of this month, the Pune-based developer added six dormitory redevelopment projects within the Mumbai Metropolitan Region (MMR) to its portfolio, with a total estimated Gross Development Value (GDV) of ₹6,000 crore.