Kalpataru Limited Signs ₹1,250 Crore Cluster Redevelopment Project in Kandivali East
Mumbai, May 25, 2026: Kalpataru Limited, a prominent developer in the Mumbai Metropolitan Region (MMR), announced the signing of a substantial cluster redevelopment project. The venture, located in Ashok Nagar, Kandivali East, Mumbai, involves five adjacent societies and is identified as the 'Ashokgram Cluster'.The large-scale redevelopment project spans approximately 2.8 acres of prime land. The development carries an estimated Gross Development Value (GDV) of around ₹ 1,250 cr, with a free sale potential of approximately 0.37 msf carpet area.
Parag Munot, Managing Director of Kalpataru Ltd., highlighted the significance of the undertaking. He stated that the company views redevelopment as a transformative process, aiming to create a future-ready neighborhood. The new development in Kandivali East is envisioned to be a seamless blend of local heritage with world-class planning, featuring expansive green spaces and modern amenities.
Mr. Munot further elaborated that the cluster redevelopment is strategically positioned, offering excellent connectivity to major road networks and metro lines. The project's appeal is enhanced by its proximity to robust social infrastructure, including premier educational institutions, leading healthcare centers, and vibrant business hubs, while also incorporating highstreet retail.
Company Presence and Scale
This new project reinforces Kalpataru Limited’s deep roots and market leadership in the Kandivali East area. The company has a long-standing presence in the locality, having already delivered six landmark developments, including Kalpataru Jharokha, Kalpataru Vatika, Kalpataru Gardens, Kalpataru Tower, Kalpataru Avenue, and Kalpataru Vienta.The company's expansion trajectory continues, following the earlier announcement of a significant ₹1,400 crore redevelopment project in Andheri East this March.
Kalpataru Limited, a developer focusing on luxury, premium, and aspirational residential, commercial, and retail projects, boasts a legacy spanning more than five decades. The company’s operational scale is extensive, benefiting from the expertise of the broader Kalpataru Group.
The company’s development metrics include:
| Metric | Detail |
|---|---|
| Total Completed Projects | 83 |
| Aggregate Developable Area | More than 23.3 Million Square Feet (MSF) |
| Ongoing and Forthcoming Projects | 31 |
| Area Covered by Current Projects | ~43 MSF |
| Geographical Spread | Mumbai, Thane, Panvel, Pune, Lonavala, Nagpur, Noida, and Hyderabad |
KALPATARU Stock Price Movement
Shares of Kalpataru Limited are rallying to ₹338.85 as of 12:08 PM, pushing up 1.51% in live trading. The stock is currently seeing significant activity, with 59,117 shares traded in the session so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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