Kalpataru Limited has informed the Exchange regarding a press release dated May 25, 2026, titled "Press release for signing of Cluster Redevelopment Project in Kandivali East".
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Kalpataru Limited has signed a cluster redevelopment agreement for the Ashokgram Cluster in Kandivali East, Mumbai, involving five adjacent societies. The project covers approximately 2.8 acres of land with a free sale potential of 0.37 million square feet of carpet area and an estimated Gross Development Value (GDV) of around ₹1,250 crore. The development will be a residential project with high-street retail components, located in a well-connected micro-market near metro lines and social infrastructure. This follows a ₹1,400 crore redevelopment project announced in Andheri East in March 2026, and further strengthens Kalpataru's established presence in Kandivali East where it has already delivered six landmark projects.
The project reinforces Kalpataru's leadership in Mumbai's redevelopment space and adds a substantial pipeline with significant GDV. While GDV represents total project value rather than immediate revenue, it signals continued business momentum and order book growth for the company in its key markets.