Kolte-Patil Developers Ltd announces leadership changes

Kolte-Patil Developers Ltd. (BSE: 532924, NSE: KOLTEPATIL, ISIN - INE094I01018; KPDL), a leading Pune-based real estate player, with growing presence in Mumbai and Bengaluru, has announced changes to its leadership team today. Mr. Yashvardhan Patil, currently the company's Group CEO, has been elevated to the position of Joint Managing Director with effect from September 08, 2021. Mr. Rahul Talele, currently Business Head - Pune, has been appointed as the company's Group CEO with effect from September 08, 2021.

Mr. Rahul Talele joined KPDL as a Deputy Project Director in 2010. Since then, he has been instrumental in driving various strategic initiatives including the Company's entry into the affordable housing segment, expansion into the Mumbai redevelopment market as well as the scale up delivered in the Life Republic Township. Prior to joining KPDL, Rahul was part of a leading Private Equity fund focused on real estate investments. He holds a Masters in Management Studies (MMS) degree with specialization in Finance from Jamnalal Bajaj Institute of Management Studies and a Bachelors of Engineering degree in IT from Bharatiya Vidya Bhavan's Sardar Patel College of Engineering, Mumbai.

Commenting on this key development, Mr. Rajesh Patil, Chairman and Managing Director, Kolte-Patil Developers, commented, "There will be many exciting opportunities in the Indian real estate space in the coming years with increasing consolidation and formalization. With the new leadership matrix in place, I am sure Yash, Rahul and the KPDL team will ensure our Company's sustained success and lead it to new heights."

Mr. Yashvardhan Patil, Joint Managing Director, Kolte-Patil Developers, commented, "It is an honour to take on this new role and partner with our Chairman and the board to write KPDL's next chapter. I thank the Board for their continued support and confidence and look forward to their continued guidance. I would like to congratulate Rahul on his appointment as Group CEO. I have worked closely with Rahul over the last several years during which time he has delivered excellent results at Life Republic, Pune and Mumbai. We will continue to work together with all our colleagues, customers, partners and shareholders with a common objective to establish the Company as one of the leading real estate developers in the country."

Mr. Rahul Talele, Group CEO, Kolte-Patil Developers, added, "I feel privileged to be entrusted with this important responsibility and would like to thank the Board for the confidence bestowed upon me. It has been a pleasure working closely with our Chairman, Yash and the entire team over the last several years. I am very inspired by the legacy of Kolte-Patil Developers. I look forward to building on the Company's robust business platform, brand salience and long-standing relationships to create sustainable, long-term value for our stakeholders."

Shares of Kolte-Patil Developers Ltd was last trading in BSE at Rs. 292.7 as compared to the previous close of Rs. 300.1. The total number of shares traded during the day was 215743 in over 4538 trades.

The stock hit an intraday high of Rs. 306 and intraday low of 290.5. The net turnover during the day was Rs. 64273070.

Source : Equity Bulls

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