Kalpataru sells 93K sq ft office space for Rs 304 cr to global shipping firm

New Delhi, Nov 11 (PTI) Realty firm Kalpataru Ltd has sold over 93,000 sq ft office space for Rs 304 crore to a shipping company in its commercial project at Vikroli in Mumbai, according to sources.

Mumbai-based Kalpataru Ltd, which got listed on stock exchanges recently, is developing a commercial project, 'Kalpataru Virtus' at Vikhroli (East), covering around 2.75 lakh sq ft carpet area. The project is expected to be completed by December 2027.

According to sources, the company has sold five floors, totalling 93,266 sq ft of carpet area, to the shipping firm for a total value of Rs 304 crore.

Kalpataru Ltd spokesperson declined to comment.

Over the past year, Kalpataru Ltd has sold commercial properties worth around Rs 1,200 crore.

At present, Kalpataru has about 2.5 lakh sq ft carpet area of premium commercial space available for sale.

Kalpataru Ltd, one of the leading real estate developers in the country, has clocked a 41 per cent growth in its pre-sales to Rs 4,531 crore in the last fiscal, driven by higher demand for residential properties.

During the first quarter of this fiscal, the company posted an 83 per cent rise in its sales bookings to Rs 1,249 crore on higher realisation. Its sales bookings stood at Rs 682 crore in the year-ago period.

On the financial performance, Kalpataru reported a consolidated net loss of Rs 49.42 crore in the first quarter of this financial year. Its net loss stood at Rs 0.69 crore in the year-ago period.

The total income fell to Rs 456.78 crore in the April-June period of 2025-26 from Rs 544.67 crore in the corresponding period of the preceding year. PTI MJH DRR