After being put into bat by Kolkata, Aaron Finch (48) and Robin Uthappa started off well scoring 41 runs in 5.4 overs before Uthappa departed for 25.
The late flourish was provided by Pandey with the help of Yuvraj Singh (30) as Pune finished at 170 for 4 in 20 overs.
Sachitra Senanayake was the pick of the KKR bowlers finishing with figures of 4-0-22-1.
Manish Pandey (66) then joined Finch in the middle as the duo compiled 56-run stand setting up Pune for a late flourish.
Chasing 171 to win, Kolkata were not off to a good start losing Bisla and Kallis for 1 run each, both wickets taken by Parnell after which Gambhir departed for 12.
Ryan ten Doeschate (42) and Yusuf Pathan combined to steady the Kolkata innings and then scored 98 runs together to give KKR some hope in the match.
Pathan was going all guns blazing having scored 72 off 44 balls but he got out obstructing the field which turned out to be the turning point of the game.
Pune managed to restrict Kolkata to 163 runs ending their nine match losing streak and knocking the defending champions out of the play-off race as well.