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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

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..