Kalpataru invests Rs 7 billion, acquires Borivali's redevelopment

19 Jun 2023 CW Team

Kalpataru, a real estate developer, has obtained the rights to redevelop a housing society situated in the Borivali suburb of Mumbai, covering an area of approximately 6 acre. They intend to invest around Rs 7 billion in order to create a residential project spanning over 7 lakh sq ft.

It is anticipated that the completion of this project, which entails the redevelopment of Yoganand Co-Operative Housing Society and presently accommodates around 400 residents, will take place within a timeframe of 3-4 years. The projected revenue from the project is estimated to be Rs 13 billion.

As per the terms of the development agreement, Kalpataru will construct and deliver a carpet area exceeding 2.41 lakh sq ft, in compliance with RERA regulations, to the current residents. At present, the residents occupy a carpet area of 1.56 lakh sq ft within the society. The housing society, built in 1974, currently comprises a total of 11 buildings consisting of ground plus three upper floors. These existing buildings house a total of 400 apartments spread across a carpet area of 390 sq ft. The developer will provide new apartments, covering an area of 603 sq ft, to the residents in exchange for their current residential units.

Also read:
Bombay HC refuses to defer demolition of Jogeshwari structures
Ahluwalia Contracts surges 10% after securing Rs 4.27 bn work order

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..