Kalpataru Ltd. has signed a cluster redevelopment project in Kandivali East, Mumbai, with an estimated Gross Development Value (GDV) potential of around Rs 1,250 crore. The company said that the redevelopment project comprises five adjacent societies in Ashok Nagar, Kandivali East, and spans around 2.8 acres of land.
The Mumbai-based developer added that the project has a free sale potential of approximately 0.37 million square feet of carpet area. The development is planned as a residential project with high-street retail, strategically located in a well-developed micro-market with connectivity to major road networks and metro lines.
The project is envisioned as a future-ready neighbourhood with green spaces, modern amenities and strong social infrastructure connectivity. The company said the latest redevelopment project further strengthens its presence in Kandivali East, where it has already delivered six residential developments.
The announcement comes after Kalpataru had earlier announced a Rs 1,400 crore redevelopment project in Andheri East in March this year.
Earlier this month, the infrastructure company reported a 14x rise in consolidated net profit for Q4FY26 to Rs 200.5 crore from Rs 14.1 crore in the same period last year. Its revenue grew 183.8% year-on-year to Rs 1,693.7 crore from Rs 596.9 crore in Q4FY25. EBITDA stood at Rs 217.4 crore during the March quarter, compared with an EBITDA loss of Rs 19.7 crore in the same period last year.
