What Kalpataru does

Kalpataru Limited (NSE: KALPATARU, BSE: 544423) is an integrated Indian real estate developer founded in 1969 by Mofatraj P. Munot and headquartered in Mumbai. The company operates across the Mumbai Metropolitan Region, Pune, Thane, Hyderabad, Indore, Bengaluru, Jodhpur, Lonavala, Karjat, Noida and Panvel/Navi Mumbai, with a dedicated NRI sales office in Dubai (JLT). Its portfolio spans luxury, premium and mid-income residential apartments, plotted developments, integrated townships (notably the 100+ acre Kalpataru Parkcity in Thane), commercial office and showroom spaces, and ultra-luxury villa developments. As of March 31, 2024, Kalpataru had completed 113 projects and delivered 24.10 million sq ft of residential and commercial space to 24,500+ families, with a current pipeline of 43 million sq ft across 31 ongoing and forthcoming projects (11 million sq ft in joint ventures and redevelopment).

The company's revenue model is anchored on one-time residential and commercial property sales, with revenue recognized on project completion milestones and occupation certificate receipts. FY26 (consolidated) revenue from operations was Rs 3,435.62 crore, up 54.64% YoY, with net profit of Rs 93.71 crore (up 4.33x) and pre-sales of an all-time high Rs 5,280 crore (up 17% YoY). Pricing is unit-based, ranging from Rs 54 lakhs (Kalpataru Ardene plots, Nagpur) and Rs 1.49 Crore (Kalpataru Vivant 1 BHK) up to Rs 60+ crore (luxury apartment, Lower Parel), with premium projects priced "on request." GTM is direct-to-consumer via owned sales offices, on-site enquiry/lead-capture, a dedicated NRI channel, broker/channel partnerships, and event-driven launches; payment plans include 10:90 and 20:80 subvention schemes. Capital is supplemented through private credit and NCD issuance (Rs 16.35 billion bond placement via GSS India Opportunities AIF, Rs 150 crore NCDs in September 2023). The company follows an integrated in-house platform model — land acquisition, proprietary site analysis (Shadow/Wind/Traffic Impact/Heat Island), design, construction, procurement and sales are housed under one entity — and holds MahaRERA registrations, LEED Platinum (Kalpataru Square, 2008) and IGBC Green Champion (2016) credentials. It filed its DRHP on August 14, 2024 and listed publicly on NSE and BSE, with no parent company; founder family (Mofatraj P. Munot and Parag M. Munot) maintains management control through a network of 35+ wholly owned SPVs.

Name

Kalpataru

Legal name

Kalpataru Limited

Website

https://kalpataru.com

Company type

Public

Founded year

1969

Operating status

Ipo

Headcount range

1,001–5,000 employees

Short description

Kalpataru Limited is a 55-year-old, publicly listed Indian real estate developer building luxury, premium and mid-income residential apartments, plotted developments, integrated townships and commercial offices across the Mumbai Metropolitan Region, Pune, Hyderabad and 10+ other Indian cities, serving individual homebuyers via direct sales, a dedicated NRI channel and channel partners.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (2372), New Housing For-Sale Builders (236117), Lessors of Real Estate (5311)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Master-Planned Community & POA Management (BPAJAHAD), Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Residential real estate
• Luxury apartments
• Commercial property
• Integrated township
• Property development

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Residential Property Sales (Primary Real Estate): Primary revenue driver: sale of under-construction and ready-to-move-in residential apartments, villas, plots and township units to end-buyers across luxury, premium and mid-income segments. Revenue is recognised based on project completion milestones and occupation certificate receipts. FY26 (Kalpataru Ltd consolidated) revenue from operations grew 183.8% YoY to Rs 1,693.7 crore in Q4FY26, driven by multiple project completions.
2. Redevelopment Project Revenue: Revenue from cluster redevelopment projects in Mumbai where Kalpataru redevelops old housing societies (e.g., Shree Mahalakshmi CHS Andheri West for Rs 1,400 crore GDV, Ashokgram Cluster Kandivali East for Rs 1,250 crore GDV) and earns revenue through free-sale component plus developer fees on rehabilitated area.
3. Commercial Office & Retail Sales: Sale and lease of premium commercial office and showroom spaces in projects such as Kalpataru Virtus (JVLR, Vikhroli) and Kalpataru Summit (Mulund) across Mumbai, Hyderabad (Kalpataru Avante Commercial in Sanath Nagar) and Pune, including bulk office space sales (e.g., Rs 304 crore to Bernhard Schulte Shipmanagement's India arm in Kalpataru Virtus).
4. Real Estate Fund / Debt Fundraising: Capital raising for project execution through private credit funds, non-convertible debentures (NCDs) and structured debt. Examples: Kalpataru Properties raised Rs 16.35 billion via 4-year bonds with GSS India Opportunities AIF committing 50%; Kalpataru Properties (Thane) issued Rs 150 crore of NCDs in September 2023; ASK Property Fund exited Kalpataru Advay investment at 18% IRR. These fundraises are used to finance working capital and project development.
5. NRI Sales Channel: Dedicated NRI sales channel with virtual walkthroughs, live video tours, remote documentation, and dedicated CRM support. Drives international sales with premium and luxury project offerings (Kalpataru Magnus, Kalpataru Amare, Kalpataru Aria, Kalpataru Vista) at higher ticket sizes.

Pricing tiers

Go-to-market motion5 records

Core offering

Kalpataru Limited is an integrated Indian real estate developer that designs, constructs, and sells residential apartments, villas, plotted developments, integrated townships, and commercial office spaces across 10+ cities. The company sells under-construction and ready-to-move-in units to individual homebuyers and HNIs, with a dedicated NRI sales channel in Dubai, supported by in-house land acquisition, design, construction, procurement, and sales capabilities.

Product overview

Kalpataru Limited is an integrated Indian real estate developer offering a portfolio of residential, commercial, retail, plotted, township, and luxury villa projects under a single corporate brand (Kalpataru Group / Kalpataru Limited) rather than a software platform with modules. The portfolio is organised around flagship marquee projects in the Mumbai Metropolitan Region — including Kalpataru One Worli (luxury 4 & 5 bed private residences in Worli), Kalpataru Advay (Borivali West), Kalpataru Verbina (luxury 3.5 BHK on JVLR), Kalpataru Lokhandwala (upcoming 3, 4 and 4.5 BHK in Andheri), Kalpataru Magnus (off BKC), Kalpataru Elitus (Mulund), Kalpataru Vienta, Kalpataru Radiance, Kalpataru Vivant, Kalpataru Virtus (commercial), and Kalpataru Summit (commercial). In Thane, the master-planned 100+ acre Kalpataru Parkcity township anchors multiple sub-products such as Estella, Eternia, Immensa and Primera. Pune is served by Kalpataru Blossoms, Kalpataru Jade Residences and Kalpataru Jade Skyline; Hyderabad by Kalpataru Avante and Kalpataru Avante Commercial; Noida by Kalpataru Vista; Lonavala by Amoda Reserve South Park; Karjat by Kalpataru Aria; Nagpur by Kalpataru Ardene; and Jodhpur by Sugan Enclave. Together these named projects form Kalpataru's "designing skylines since 1969" portfolio, with the company also leveraging cluster redevelopment wins in Kandivali East (Ashokgram, ₹1,250 crore GDV) and Andheri West (Shree Mahalakshmi CHS, ₹1,400 crore GDV) as expansion plays. Note: Kalpataru Projects International (KPIL) referenced extensively in news articles is a separate listed EPC/infrastructure entity in the wider Kalpataru group and is distinct from Kalpataru Limited's real estate product line.

Differentiator

Problem solved

Functional benefit

Brands

• Kalpataru Parkcity: Integrated township spread across 100+ acres in Thane, master planned around the 20-acre Namo Grand Central Park. Sectors include Estella, Eternia, Primera, Immensa.
• Kalpataru Verbina
• Kalpataru Blossoms
• Kalpataru Lokhandwala
• Estella | Kalpataru Parkcity
• Kalpataru One Worli
• Kalpataru Ardene
• Kalpataru Advay
• Kalpataru Virtus
• Kalpataru Summit
• Kalpataru Aria
• Kalpataru Vista
• Kalpataru Radiance
• Kalpataru Avante
• Kalpataru Avante Commercial
• Kalpataru Jade Residences
• Kalpataru Jade Skyline
• Kalpataru Magnus
• Kalpataru Elitus
• Kalpataru Amare
• Kalpataru Vivant
• Kalpataru Vienta
• Srishti Namaah
• Amoda Reserve South Park
• Kalpataru Park Riviera
• Eternia | Kalpataru Parkcity
• Kalpataru Oceana
• Kalpataru Privé
• Kalpataru Elegante
• Kalpataru Azuro
• Immensa | Kalpataru Parkcity
• Primera | Kalpataru Parkcity
• Matru Ashish by Kalpataru
• Sugan Enclave
• Kalpataru Plots Nagpur

Products and services

• Kalpataru One Worli Luxury 4 and 5 bed private grand residences in Worli, Mumbai, set across 5 acres with 3 iconic towers designed by Hans Brouwer (HB Design) and Ann Teo (COEN Design). Amenities are spread across 5 levels with manicured landscapes; registered with MahaRERA.
• Estella | Kalpataru Parkcity 2 and 3 BHK residences in Sector B of Kalpataru Parkcity, Kolshet Road, Thane West, with a 6-acre podium and 8 acres of amenity space including a half Olympic-length pool and a 76,000 sq ft clubhouse. MahaRERA Registration No. PR1332022500106; prices from Rs 1.82 Crore (2-bed) and Rs 2.43 Crore (3-bed).
• Kalpataru Blossoms Resort-style 2, 3, and 4 BHK residences on Sinhagad Road, Pune, comprising three towers each registered with MAHARERA. Possession scheduled for March 2029; prices from Rs 1.62 Crore for 2-bed and Rs 2.18 Crore for 3-bed residences.
• Kalpataru Lokhandwala Upcoming 3, 4, and 4.5 BHK residences in Lokhandwala, Andheri (W), Mumbai, set across approximately 4 acres with 30+ curated lifestyle amenities. Offers mangrove views, intelligent open layouts, and proximity to DN Nagar/Versova metro and the upcoming Versova-Bandra Sea Link.
• Kalpataru Verbina Low-density luxury 3.5 BHK residences in Poonam Nagar, JVLR, Mumbai, with only 28 exclusive residences (2 per floor) and 3 levels of premium amenities including rooftop, eco-deck, and landscaped ground. MahaRERA no. PR1180002501787; prices start from Rs 5.6 Crore with December 2029 possession.
• Kalpataru Advay 2, 3, and 4 bed residences in Borivali (W), Mumbai, marketed as an illustrious life-style offering in a well-connected western Mumbai micro-market.
• Srishti Namaah 2, 3, and 4 bed residences with deck in Mira Road, Thane, with the newest tower positioned as an upgrade in lifestyle and amenities within Kalpataru's Srishti legacy.
• Kalpataru Ardene Luxurious plotted development off Samruddhi Circle, Nagpur, offering plots ranging from 1,320 to 2,400 sq ft with themed amenities amidst lush, serene surroundings; priced starting at Rs 54 Lakhs onwards.
• Kalpataru Virtus Premium office and showroom spaces ranging from 473 to 2,184 sq ft on JVLR, Vikhroli (W), Mumbai. Bernhard Schulte Shipmanagement's India arm purchased Rs 304 crore of office space here to establish its India headquarters; prices start from Rs 1.85 Crore++.
• Kalpataru Parkcity 100+ acre landmark township in the heart of Thane, master-planned around the 20-acre Namo Grand Central Park, offering 2, 3, and 4 bed residences. Recognised as 'Integrated Township Project of the Year' at the 14th Realty+ Conclave 2022.
• Kalpataru Radiance Luxurious residential complex in Goregaon West, Mumbai, featuring four thoughtfully designed towers with 3-bed residences starting from Rs 4.19 Crore (all inclusive).
• Eternia | Kalpataru Parkcity 2 and 3 bed homes with deck in Kalpataru Parkcity, Kolshet Road, Thane, priced from Rs 1.65 Crore (2-bed) and Rs 2.60 Crore (3-bed) all inclusive.
• Kalpataru Summit Iconic office spaces starting from 455 sq ft on LBS Road, Mulund (W), Mumbai, positioned for icon-level businesses. Awarded 'Commercial Project of the Year' at the 15th Realty+ Conclave 2023.
• Kalpataru Vivant Spacious 1, 2, and 3 bed residences and Jodi Homes on JVLR, Mumbai, with 1-bed residences starting from Rs 1.49 Crore, 2-bed from Rs 2.21 Crore. Part of Kalpataru's trusted JVLR legacy alongside Kalpataru Estate.
• Kalpataru Aria Luxurious serviced plots, 2-bed homes, and townhouses in Karjat, with plots starting at Rs 85 Lakh+, townhouses from Rs 2.01 Crore, and 2-bed residences from Rs 74.49 Lakh+.
• Kalpataru Jade Skyline 3-bed residences in Baner, Pune, positioned as a continuation of the Kalpataru Jade Residences legacy; 3-bed residences starting at Rs 1.90 Crore.
• Kalpataru Park Riviera 2-bed residences in Panvel comprising four towers of 19 storeys each, with views of the Kalundre River in a riverside setting.
• Kalpataru Vista 3 and 4 bed residences and duplexes in Sector 128, Noida, positioned in a growing luxury residential hub.
• Amoda Reserve South Park 4 and 5 bed luxury villas nestled in the hills of Kunenama, Lonavala, within Kalpataru's Amoda Reserve development.
• Kalpataru Vienta 2 and 3 bed residences and duplexes in Kandivali East, Mumbai, with city and green views. Awarded 'Residential Project - High-end (Metro: Ongoing)' at the ET Real Estate Awards 2022.
• Kalpataru Magnus 3, 4, and 4.5 bed residences off BKC, Mumbai, priced starting at Rs 7.62 Crore++; positioned as an exclusive offering for high-net-worth buyers.
• Matru Ashish by Kalpataru Residential project in Mumbai developed under the Kalpataru brand.
• Kalpataru Elitus 3.5 bed homes with decks on LBS Road, Mulund (W), Mumbai, with 'ICON' as the final and most premium tower; prices start from Rs 4.27 Crore all inclusive.
• Immensa | Kalpataru Parkcity Residential offering within Kalpataru Parkcity, Thane.
• Kalpataru Elegante Residential project in Mumbai developed under the Kalpataru brand.
• Kalpataru Oceana Residential project in Mumbai by Kalpataru; recognised at the 14th Realty+ Conclave 2022.
• Kalpataru Privé Ultra-luxury project by Kalpataru; awarded 'Ultra Luxury-Lifestyle Project of the Year' at the 15th Realty+ Conclave 2023.
• Kalpataru Azuro Residential project in Mumbai by Kalpataru.
• Kalpataru Avante Commercial Office and showroom spaces ranging from 1,400 to 18,000 sq ft in Sanath Nagar, Hyderabad, positioned for prime location access and large residential catchment.
• Kalpataru Avante Residential project in Sanath Nagar, Hyderabad, with 3-bed residences starting at Rs 1.89 Crore onwards; follows Kalpataru's first completed Hyderabad project.
• Sugan Enclave Residential project in Boranada, Jodhpur, by Kalpataru.
• Kalpataru Amare Luxury 3, 3.5, and 4 bed residences in Juhu, Mumbai, positioned as 'the soul of Juhu' with prices starting from Rs 10.19 Crore.
• Primera | Kalpataru Parkcity Premium 2-bed homes at Kalpataru Parkcity, Kolshet Road, Thane West, priced from Rs 1.69 Crore all inclusive.
• Kalpataru Jade Residences 3.5 BHK residences of approximately 1,750 sq ft near Baner Hills, Pune, starting from Rs 2.95 Crore onwards; positioned as the final masterpiece of the Jade Residences.

Named customers5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Scale indicators18 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• DLF Limited: DLF is India's largest listed real estate developer with a pan-India residential, commercial and retail portfolio. While much larger and more diversified than Kalpataru, it sets the market benchmark for listed Indian developer economics and is a relevant comparable for capital allocation and product positioning.
• Tata Housing: Tata Housing Development Company is the real estate arm of the Tata Group, developing premium residential and township projects across India. As a broad-incumbent developer with a strong brand, it competes with Kalpataru in the premium and luxury segments across multiple Indian cities.

Regional players

• Brigade Enterprises: Brigade Group is a listed Bengaluru-headquartered developer with a residential, commercial and hospitality portfolio. It has limited overlap with Kalpataru's MMR dominance but competes with Kalpataru's Bengaluru/Hyderabad/Pune footprint and is a comparable listed mid-cap Indian developer.

Direct peers

• Shapoorji Pallonji Real Estate: Shapoorji Pallonji Real Estate is a Mumbai-based premium and luxury residential developer (SP One floors, Joyville). It competes directly with Kalpataru in the MMR premium segment and pursues a similar integrated, design-led proposition.
• Godrej Properties: Godrej Properties is a large listed Indian residential developer with pan-India presence across MMR, Pune, Bengaluru, NCR and Hyderabad. Both companies operate integrated real estate platforms, compete in the same premium/luxury segments, and have comparable listed-developer governance and scale.
• Sobha Limited: Sobha Limited is a listed Indian real estate developer with backward-integrated construction capabilities and premium residential projects across Bengaluru, NCR, Chennai, Pune and Kochi. Its integrated platform and luxury positioning are comparable to Kalpataru's design-to-delivery model.
• Oberoi Realty: Oberoi Realty is a listed Mumbai-centric developer of premium and luxury residential and commercial projects (Oberoi Splendor, Three Sixty West, Commerz). It competes head-to-head with Kalpataru in the Worli/Mulund/JVLR corridors and shares a similar premium-pricing, integrated-platform strategy.
• Hiranandani Group: Hiranandani Group develops integrated townships and premium residential projects (Hiranandani Gardens Powai, Hiranandani Estate Thane). Its Thane township competes with Kalpataru Parkcity and its Powai portfolio competes with MMR luxury projects of Kalpataru.
• Macrotech Developers (Lodha): Macrotech Developers (Lodha) is India's largest listed luxury real estate developer with deep Mumbai Metropolitan Region focus and a comparable premium/luxury product mix (Lodha World Towers, Lodha Park, Palava). Both companies target HNI/NRI buyers, run similar pre-sale-driven revenue models, and compete for the same MMR land and redevelopment opportunities.
• Prestige Group: Prestige Estates Projects is a listed Indian developer with a large residential, commercial and township portfolio concentrated in South India but expanding into MMR and other metros. Its mixed product mix and listed-developer structure make it a relevant peer for Kalpataru's listed, multi-city strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/kalpatarulimited
• LinkedInlinkedin.com/company/kalpataru-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries37 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kalpataru