Kolte-Patil Developers Appoints Hrishikesh Parandekar as New Chief Executive Officer
Leadership Transition at Kolte-Patil Developers
The Board of Directors approved the appointment on August 19, 2026. Kolte-Patil Developers has appointed veteran executive Hrishikesh Parandekar as CEO, starting August 24, 2026. The appointment comes to professionalize and institutionalize management as the developer enters a new phase of expansion.
Parandekar's Background and Experience
The incoming CEO brings more than 30 years of experience across real estate, investments and strategic leadership. An IIM Ahmedabad Gold Medalist, Parandekar joins KPDL from Alpha Alternatives, where he served as Senior Partner and led Strategic Partnerships and Real Estate Investing. Earlier, he also held leadership roles at McKinsey & Company, Morgan Stanley, Karvy Group, Ambit Holdings, and Sugee Group.
Mandate for Growth and Execution
Parandekar will lead the company's next phase of expansion, with a mandate spanning business growth, operational performance, organisational strengthening and long-term value creation. Parandekar said, "Kolte-Patil Developers has a strong brand, a differentiated market position and significant opportunity to scale across markets."
Context: Financial Turnaround and Expansion
The transition coincides with a stellar Q1 FY27 profit turnaround to ₹146.26 crore and a massive expansion drive in the Mumbai Metropolitan Region (MMR) worth ₹6,000 crore in Gross Development Value (GDV). The executive transition coincides with a 30% YoY rise in collections and a 29% YoY improvement in average realizations to ₹9,442 per sq. ft.
Blackstone's Backing and Board Support
The appointment occurs as Kolte-Patil transitions from a net loss phase to high-margin profitability, bolstered by Blackstone's active 40% equity backing. Speaking on the appointment, Mr. Asheesh Mohta, Head of Real Estate India, Blackstone, and Director on the Board of Kolte-Patil Developers Limited, said, "Kolte-Patil is at an important inflection point in its evolution, with a strong foundation and meaningful opportunities ahead. We are delighted to welcome Hrishikesh as CEO and are confident in his ability to lead the company through its next chapter of growth."
Company Presence and Scale
KPDL has a presence across Pune, Mumbai and Bengaluru, with Pune remaining a key residential market for the company. Kolte-Patil Developers has developed and constructed more than 68 projects across Pune, Mumbai and Bengaluru. Its portfolio includes residential complexes, integrated townships, commercial developments and IT Parks, with a combined saleable area of more than 33 million square feet.