Kalpataru Sells Rs 3.04 Billion Office Space to BSM

14 Nov 2025 CW Team

Sources said BSM has purchased office units spanning the 15th to the 20th floors of the under-construction tower. The 33-storey development, located on a 1.12-acre land parcel at the intersection of the Jogeshwari–Vikhroli Link Road and Lal Bahadur Shastri Marg, is expected to be completed by 2029, with handover scheduled for 2027.

BSM, headquartered in Hamburg, Germany, is one of the world's largest providers of shipping and maritime services. Part of the Schulte Group, it manages a wide range of vessels including oil and gas tankers, container ships, bulk carriers and cruise liners.

In an e-mailed statement confirming the deal, BSM said the investment demonstrates its commitment to India and its growing maritime sector. “India is an important market because of its skilled seafarers and rising significance in global trade. Over the decades, we have expanded our presence and invested in training facilities such as our Maritime Training Centre in Kochi. The market offers opportunities for other services too, including technical consultancy and specialised maritime support,” the company said.

Kalpataru, known primarily for its premium residential developments, also has a strong presence in Mumbai’s commercial real-estate market. Over the past year, it has sold major office spaces at projects such as Kalpataru Infinia in Santacruz to companies including Bennett Coleman and Company Ltd (BCCL) and ICICI Prudential, as well as to family offices.

According to sources, Kalpataru currently has around 250,000 square feet of commercial space available for sale.

Listed developer Kalpataru Ltd has sold around 93,000 square feet of office space at its upcoming Kalpataru Virtus development in Vikhroli, Mumbai, for Rs 3.04 billion, according to registration documents. The buyer is the India unit of Bernhard Schulte Shipmanagement (BSM), the global marine services major. Sources said BSM has purchased office units spanning the 15th to the 20th floors of the under-construction tower. The 33-storey development, located on a 1.12-acre land parcel at the intersection of the Jogeshwari–Vikhroli Link Road and Lal Bahadur Shastri Marg, is expected to be completed by 2029, with handover scheduled for 2027. BSM, headquartered in Hamburg, Germany, is one of the world's largest providers of shipping and maritime services. Part of the Schulte Group, it manages a wide range of vessels including oil and gas tankers, container ships, bulk carriers and cruise liners. In an e-mailed statement confirming the deal, BSM said the investment demonstrates its commitment to India and its growing maritime sector. “India is an important market because of its skilled seafarers and rising significance in global trade. Over the decades, we have expanded our presence and invested in training facilities such as our Maritime Training Centre in Kochi. The market offers opportunities for other services too, including technical consultancy and specialised maritime support,” the company said. Kalpataru, known primarily for its premium residential developments, also has a strong presence in Mumbai’s commercial real-estate market. Over the past year, it has sold major office spaces at projects such as Kalpataru Infinia in Santacruz to companies including Bennett Coleman and Company Ltd (BCCL) and ICICI Prudential, as well as to family offices. According to sources, Kalpataru currently has around 250,000 square feet of commercial space available for sale.

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