Kalpataru has secured a significant cluster redevelopment project in Mumbai's Kandivali East area. According to reports from Business Standard, the company announced the signing of the Ashokgram Cluster project, a large redevelopment project comprising five adjacent societies in Ashok Nagar, Kandivali East. The project spans approximately 2.8 acres of prime land in the Mumbai Metropolitan Region.
The redevelopment project demonstrates substantial development potential with free sale potential of approximately 0.37 million square feet of carpet area. As reported by Business Standard, the estimated Gross Development Value (GDV) stands at around ₹1,250 crore, representing a significant financial opportunity for the infrastructure and construction company. The project features a residential development with high-street retail components, strategically positioned within a thriving micro-market. According to Kalpataru's Managing Director Parag Munot, the company views redevelopment as a transformative journey that breathes new life into existing communities.
The project's location in Ashok Nagar, Kandivali East, Mumbai positions it within the Mumbai Metropolitan Region's prime real estate market. According to Business Standard, the 2.8-acre land parcel represents a significant acquisition for Kalpataru. This signing reinforces the company's leadership in the Kandivali East locality, where Kalpataru has already delivered six landmark developments including Kalpataru Jharokha, Kalpataru Vatika, and Kalpataru Gardens. The Ashokgram project adds to a growing redevelopment pipeline that includes a ₹1,400 crore project in Andheri East announced earlier in March 2026.
The project announcement comes alongside Kalpataru's robust financial performance in Q4 FY26, demonstrating strong momentum across key metrics. As reported by ETRealty, the company's pre-sales value reached ₹1,833 crore in Q4 FY26 compared to ₹1,724 crore in Q4 FY25, marking a six percent year-on-year growth. Collections showed even stronger performance, rising to ₹1,487 crore from ₹1,057 crore in the previous year, representing a 41 percent year-on-year increase. The company sold 1.15 million square feet of area during the quarter with an average sale realization of ₹15,969 per square foot.
Kalpataru Limited shares are trading at ₹333.9, representing a 0.3% increase from the previous closing price of ₹332.9, with a market capitalization of ₹6,887 crore. The stock made a high of ₹345 in Monday's trading session, approximately 3.6% above its previous closing price. The company, with a P/E ratio of 72.5, operates as one of Mumbai's largest developers with a legacy spanning over five decades under the Kalpataru Group. With 83 completed projects aggregating to more than 23.3 million square feet of developable area and 31 ongoing and forthcoming projects spread across approximately 43 million square feet, Kalpataru has built one of the larger residential development platforms in the MMR.
