Kolte-Patil sees second CEO change in 3 months

Pune-based real estate developer Kolte-Patil Developers Ltd has introduced its second Group CEO in three months in the form of Rahul Talele, currently Business Head for Pune.

It was on June 12 this year that the company had appointed Yashvardhan Patil as its Group CEO.

At the time, Kolte Patil Chairman & MD Rajesh Patil had had said that Yashvardhan’s “leadership and strategic mindset will be critical in enabling KPDL to achieve its value creation goals”.

Yashwardhan Patil is being moved to the position of joint managing director. Prior to joining as the CEO, he had been closely involved in all key areas of KPDL operations since he first joined the company in 2012. He looked after the company’s strategic international partnerships.

Yashvardhan Patil said he looked forward to partner the chairman and the board to “write KPDL’s next chapter”.

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,” the company said today.

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.

Kolte Patil, like other real estate firms, has been forced to negotiate the tumultuous developments associated with the COVID-19 pandemic. However, the company has managed to survive the disruptions better than many of its competitors so far.

Chairman Rajesh Patil said that, with Talele’s appointment, a new ‘leadership matrix’ is now in place.

“I am sure Yash, Rahul and the KPDL team will ensure our company’s sustained success and lead it to new heights,” he said.

The outgoing CEO said he has 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,” he added.

Incorporated in 1991, Kolte-Patil is a leading real estate company with dominant presence in the Pune residential market, and a growing presence in Mumbai and Bengaluru.

It has developed and constructed over 50 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of ~20 million square feet across Pune, Mumbai and Bengaluru.

It markets its projects under two brands: ’Kolte-Patil’ (addressing the mid-income segment) and ‘24K’ (addressing the premium luxury segment).