Bengaluru, 12 November 2025: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL), a leading Pune-based real estate player with a diversified footprint in Mumbai and Bengaluru, announced restructuring of its leadership team and Board as part of a broader organizational shift to align with the new growth strategy, resulting from a deeper integration with Blackstone.
Additions to the Board:
The Board of Directors of the company, during the meeting held on 11 November 2025, have appointed Ms. Avani Davda as an Additional Director (Non‐Executive, Independent) subject to shareholders’ approval. Ms. Davda is an accomplished business leader with over two decades of experience and has held leadership and board positions in companies across real estate, consumer, retail and hospitality sectors with a proven track record of implementing business strategy. Currently, she is strategic advisor at Bain Advisory Network and has led several projects in retail and consumer sector across Asia. She is also on the board of Emami Ltd, Mahindra Logistics among others. Some of the companies where she has held leaderships positions in the past include Tata Starbucks, Tata Consumer Products Ltd. & its subsidiaries (TCPL), The Indian Hotels Company Ltd. (TAJ Hotels), Infiniti Retail (Croma) and Godrej Nature’s Basket. Her achievements have been recognized internationally, including being featured in Fortune US’s annual global list of ‘40 Under 40 Leaders’ in 2013.
In August 2025, the company announced the induction of three senior Blackstone executives to its board as Directors (Non-Executive, Non-Independent) – Mr. Tuhin Parikh, Vice Chairman of Real Estate (Asia) and Executive Chairman of Real Estate (India); Mr. Asheesh Mohta, Senior Managing Director and Head of Real Estate (India); and Mohit Arora, Managing Director in the Real Estate Group (India).
Leadership Changes:
Further, the company today also announced changes to its senior leadership. Group CEO Mr. Atul Bohra has resigned effective from the closure of business hours of November 11, 2025. The Board is taking steps to identify a new CEO. Mr. Rajesh Patil, Managing Director, will continue to lead the business. The Company and Board appreciate Mr. Bohra’s contributions and wish him the very best in his future endeavors.
The company has appointed Mr. Anil Dwivedi as Chief Development Officer and he will assume responsibilities later this month. He has had an illustrious career spanning over 30 years in the Indian real estate and construction industry. His professional journey reflects a consistent trajectory of progressive leadership, having led the end-to-end delivery of over 30 million sq. ft. of projects across residential, commercial, retail, hospitality, institutional, industrial, and warehousing sectors. Before joining Kolte-Patil Developers he was with Colliers as Managing Director – Western India Project Management.
The company has appointed Mr. Vishal Mariya as the Group Chief Human Resources Officer. Mr. Mariya has over 18 years of experience in building people-centric organizations, driving cultural transformation, and fostering leadership excellence at companies operating in industries as diverse as
FMCG, Real Estate, Manufacturing and EPC. Before joining Kolte-Patil Developers he worked as Vice- President, Human Resources at KEC International Ltd. His tenures at companies like CEAT Tyres, Raychem RPG, Godrej Properties and Godrej Consumer Products reflect his deep domain expertise.
The revamped governance structure will enable the company steer growth, blending the promoter’s proven execution track record combined with Blackstone’s global expertise across asset classes.
Commenting on the developments, Mr. Rajesh Patil, Managing Director, Kolte-Patil Developers, said, “The Board and leadership changes underscore our ambitions for the future as well as our unwavering commitment to building a strong management team. Our resilient performance over the years has helped build a strong portfolio of projects in Pune, Mumbai, and Bengaluru. Now, with the transformative backing of Blackstone and healthy financials, Kolte-Patil Developers is poised for its next stage of growth.”
Mr. Asheesh Mohta, Head of Real Estate (India), Blackstone, and Member of the Board of Directors, Kolte-Patil Developers Ltd., said, “We are excited about our investment and strategic partnership with Kolte-Patil Developers. This is an extraordinary opportunity with tremendous growth potential. Our collaboration represents a long-term commitment to India’s real estate sector, combining Kolte-Patil’s proven execution capabilities with Blackstone’s global expertise. The enhancements to the Board and leadership structure will empower the company to seize emerging opportunities, accelerate its growth trajectory, and achieve our shared vision of building one of the most impactful and respected platforms in the industry.”
