Kalpataru Secures Two Projects With Rs 20 Bn Revenue Potential

12 Feb 2025 CW Team

As per documents accessed by real estate data analytics firm CRE Matrix, the Goregaon project, located in the residential Bangur Nagar neighbourhood, was signed in October 2024, while the larger five acre society on Chembur's VN Purav Marg was inked last month. Moneycontrol has reached out to Kalpataru to seek comment on the matter, and the story will be updated once the responses are received.

According to the transaction documents, the Chembur project, named Suman Cooperative Housing Society, comprises 136 residences across ten buildings, with the property valued at around Rs 247.62 crore. Kalpataru is expected to receive a free-sale component of around 4.2 lakh square feet, representing 350 units. The project is expected to be completed within a maximum of 42 months, including a six month grace period, the transaction documents showed.

As for the Goregaon project, sources said that Kalpataru's free sale component will be around 2 lakh square feet, across 200 units. The Goregaon project is also located near the Bangur Nagar metro station on the Yellow Line of the Mumbai Metro.

The new redevelopment projects are part of Kalpataru's plans to forge ahead with a redevelopment-led growth path in Mumbai, especially in the western suburbs. It has four redevelopment projects ongoing in areas such as Santacruz and Matunga, while it has other upcoming redevelopment projects in areas like Borivali, Juhu, and Andheri.

Kalpataru is another of the large, legacy developers in Mumbai who are increasingly looking at redevelopment projects for new business development, in order to proceed with an asset-light model, rather than pursuing scarce land parcel worth large sums. Other developers such as Godrej Properties, Ashwin Sheth Group, Raymond Realty, Rustomjee, Macrotech (Lodha), among many, are working on multiple redevelopment projects.

IPO-bound real estate development firm Kalpataru has signed on two large housing societies- one each in Chembur and Goregaon- for redevelopment projects with a total revenue potential of Rs 20 billion, according to sources. Kalpataru paid more than Rs 270 million for the two transactions, according to transaction documents. As per documents accessed by real estate data analytics firm CRE Matrix, the Goregaon project, located in the residential Bangur Nagar neighbourhood, was signed in October 2024, while the larger five acre society on Chembur's VN Purav Marg was inked last month. Moneycontrol has reached out to Kalpataru to seek comment on the matter, and the story will be updated once the responses are received. According to the transaction documents, the Chembur project, named Suman Cooperative Housing Society, comprises 136 residences across ten buildings, with the property valued at around Rs 247.62 crore. Kalpataru is expected to receive a free-sale component of around 4.2 lakh square feet, representing 350 units. The project is expected to be completed within a maximum of 42 months, including a six month grace period, the transaction documents showed. As for the Goregaon project, sources said that Kalpataru's free sale component will be around 2 lakh square feet, across 200 units. The Goregaon project is also located near the Bangur Nagar metro station on the Yellow Line of the Mumbai Metro. The new redevelopment projects are part of Kalpataru's plans to forge ahead with a redevelopment-led growth path in Mumbai, especially in the western suburbs. It has four redevelopment projects ongoing in areas such as Santacruz and Matunga, while it has other upcoming redevelopment projects in areas like Borivali, Juhu, and Andheri. Kalpataru is another of the large, legacy developers in Mumbai who are increasingly looking at redevelopment projects for new business development, in order to proceed with an asset-light model, rather than pursuing scarce land parcel worth large sums. Other developers such as Godrej Properties, Ashwin Sheth Group, Raymond Realty, Rustomjee, Macrotech (Lodha), among many, are working on multiple redevelopment projects.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..