Kolte-Patil Developers CEO Rahul Talele steps down, Atul Bohra to take over

Kolte-Patil developers said in a regulatory filing that CEO Rahul Talele tendered his resignation to pursue professional goals outside the organization

Published on: Jun 14, 2024, 18:14:38 IST

By HT News Desk

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Listed real estate firm Kolte-Patil Developers based in Pune said on June 14 that its Group Chief Executive Officer (CEO) Rahul Talele has resigned from the company. Atul Bohra, a chartered accountant and former CFO of Kolte- Patil Developers, will replace Talele, the company said in a regulatory filing.

Kolte Patil developers said in a regulatory filing that Rahul Talele tendered his resignation to pursue professional goals outside the organization

He resigned on June 13, 2024.

“The resignation has been accepted by the board of directors of the company in their meeting held on June 14, 2024,” the company said.

"However, he will continue as a non-key managerial personnel to complete the smooth transition till August 31, 2024," Kolte-Patil Developers said in a regulatory filing.

Talele tendered his resignation to pursue professional goals outside the organization after a career of 14 years with the company and will stay till August 31, 2024 to ensure a smooth transition of leadership, the company said in the regulatory filing.

Also read: Here’s why redevelopment projects worth over ₹7,000 crore involving 10,000 families are stuck in Mumbai's Dahisar

The company said that the new CEO Atul Bohra has worked with Kolte-Patil Developers in different roles from 2012 to 2023 during which he also served as the Group CFO. Before joining Kolte-Patil Developers as a Group CEO, Bohra briefly took on the role of a Regional Business Head at a leading real estate company.

Rajesh Patil, Chairman and Managing Director, Kolte Patil Developers, said, “Kolte-Patil Developers is firmly positioned for achieving robust growth on the back of strong projects-portfolio, sound financial standing, a solid leadership team and economic and sectoral tailwinds."

Also read: Kolte-Patil plans to launch real estate projects worth ₹9,000 crore by FY25 in Pune, Mumbai, and Bengaluru

Patil added, "In his earlier tenure at Kolte-Patil, having worked across functions and geographies, Atul has demonstrated keen business sense, transformative approach, and financial expertise, contributing meaningfully to the success of the company. I am confident that in his new role as the Group CEO, he will lead the Company to achieve new milestones and solidify our position as a leading real-estate developer.”

Kolte-Patil developers was incorporated in 1991. The company has developed and constructed over 64 projects including residential complexes, integrated townships, commercial complexes and IT Parks covering a saleable area of more than 28 million square feet across Pune, Mumbai and Bengaluru.

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