Shares of Kalpataru Limited rallied 9% to touch a day’s high of Rs 329.45 on 13th March after the firm said it had signed a redevelopment project for Shree Mahalakshmi CHS in Andheri West, Mumbai. The project has an estimated Gross Development Value (GDV) of around Rs 1,400 crore.

The redevelopment project spans about 3 acres and will offer a total potential carpet area of around 0.4 million square feet. It is located off Veera Desai Road in Andheri West. This is one of Mumbai’s established residential and commercial areas.

Andheri West offers strong connectivity and a well-developed urban ecosystem. It has reputed schools, colleges, healthcare facilities, retail and entertainment hubs, and major business districts nearby.

Kalpataru said the project is part of its strategy to focus on premium residential developments in key urban micro-markets. It aims to do so by utilising prime land parcels for high-value projects.

The redevelopment will strengthen Kalpataru’s development pipeline while supporting its continued focus on redevelopment opportunities across the Mumbai Metropolitan Region.

The fully residential project will feature well-planned homes designed for modern lifestyles, with a focus on sustainability and modern amenities. Additionally, it will offer seamless connectivity.

At 11:01 AM, shares of Kalpataru were trading 8.93% higher at Rs 326.25 on the NSE.

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