Kalpataru Limited shares increased by almost 9 percent to 325.95 when the company reported the signing of a large redevelopment project in Andheri West. The redevelopment project has an approximate gross development value (GDV) of approximately 1400 crore, which underscores how the developer is continuing to expand in the Mumbai competitive real estate market.
The project is the redevelopment of Shree Mahalakshmi CHS, which is adjacent to Veera Desai road. The development will cover a total of about three acres of prime land with an anticipated total potential carpet area of close to 0.4 million square feet. The scale and site makes the project a major project to the company in terms of redevelopment in Mumbai.
Key Highlights
Andheri West has been regarded as one of the most established residential and commercial micro-markets in Mumbai. The area enjoys good accessibility to key business areas and transportation channels with well established social infrastructure. The area is a highly preferred real estate destination with most of its inhabitants being close to the top educational institutions, health facilities, shopping centers, entertainment centers and corporate offices.
Kalpataru Limited is renowned in creating luxury, mid-income, and luxury residential projects, commercial and retail property. The company handles the lifecycle of development, namely land acquisition, designing, construction and sales.
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The company recorded a consolidated net loss of Rs 62.78 crore during the third quarter of FY26, as compared to a loss of Rs 21.86 crore in the same period the previous year, despite the positive market response to the new project. Its revenue earned in operations also dropped by 14.13 percent annually to Rs 504.92 crore.
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