Updates

Kalpataru Projects International Wins GST Appeal, Penalty for FY2020-21 Slashed from ₹42.80 Lakh to ₹0.4 Lakh

The GST Appellate Authority ruled in Kalpataru Projects International's favour, cutting a penalty for alleged wrongful input tax credit availed in FY2020-21 to a fraction of the original demand.

Kalpataru Projects International Pays ₹10.46 Lakh GST Penalty to Release Detained Vehicle, Plans Appeal

Kalpataru Projects International paid a ₹10.46 lakh GST penalty on July 29, 2026 to secure release of a vehicle detained during an inter-state goods transfer over alleged documentation issues, and intends to appeal.

Delhi High Court Partially Sets Aside NHAI Arbitration Award for Kalpataru JV Kurukshetra Expressway, Termination Payment Claim Rejected

The Delhi High Court partially set aside a ₹1,000+ crore arbitration award won by Kurukshetra Expressway Private Limited (KEPL), a 49.57% Kalpataru Projects International joint venture, against NHAI, rejecting the Termination Payment and interest component.

Kalpataru Subsidiary Kalpataru Properties Private Limited Receives ICRA [BBB-]/Stable Rating for ₹230.56 Crore HDFC Bank Term Loan

Kalpataru's subsidiary Kalpataru Properties Private Limited has been assigned a [ICRA]BBB- (Stable) rating by ICRA for a long-term term loan of ₹230.56 crore from HDFC Bank.

Kalpataru Projects International Wins GST Case, ₹1.52 Crore Demand for FY 2019-20 Set Aside

The Appellate Authority quashed a ₹1.52 crore GST demand against Kalpataru Projects International for FY 2019-20, reducing the company's contingent liabilities.

Kalpataru Projects International Concludes 45th AGM: Shareholders Formally Declare ₹11 Dividend, Approve FY26 Accounts and Gautam Mehra's Appointment

KPIL's 45th AGM concluded on July 15, 2026 with shareholders formally declaring the FY26 final dividend, adopting audited accounts, and ratifying the appointment of Gautam Mehra as Independent Director.

Kalpataru Launches Tower C of Estella at Kalpataru Parkcity, Thane in Q1 FY27

Alongside its Q1 FY27 operational update, Kalpataru announced the launch of Tower C at Estella, its residential project within the Kalpataru Parkcity township in Thane.

Kalpataru Limited Reports Q1 FY27 Pre-Sales of ₹1,329 Crore (Up 6% YoY), Collections Surge 17% to ₹1,365 Crore

Kalpataru's Q1 FY27 operational update shows pre-sales rising 6% year-on-year to ₹1,329 crore and collections up 17% to ₹1,365 crore, alongside new launches including Kalpataru Vian in Andheri West and Tower C of Estella in Thane.

Kalpataru's Lokhandwala Redevelopment Launched as 'Kalpataru Vian' with MahaRERA Registration PR1180002600863

Kalpataru's previously 'Upcoming' Lokhandwala Complex project has been formally launched under the name Kalpataru Vian, offering luxury 3, 4 & 4.5 BHK residences with MahaRERA registration PR1180002600863.

Kalpataru Amare Launched in Juhu, Mumbai — Luxury 3, 3.5 & 4 BHK Residences with RERA Registration P51800056013

Kalpataru Group has launched Kalpataru Amare, a luxury residential project in Juhu, Mumbai, registered under MahaRERA number P51800056013. The project offers 3, 3.5, and 4 BHK residences spread across 16 habitable floors, priced from ₹9.99 crore, with possession targeted in 2027.

Kalpataru Limited Allots 8,100 Equity Shares Under ESOP 2024 Scheme

Kalpataru Limited's Nomination and Remuneration Committee approved the allotment of 8,100 equity shares under its ESOP 2024 scheme, marginally increasing paid-up equity capital.

Kalpataru Limited Schedules 38th AGM for August 3, 2026 with Financial Statement Approval and Director Reappointment on Agenda

Kalpataru Limited has scheduled its 38th Annual General Meeting for August 3, 2026, where shareholders will vote on FY26 financial statements, the reappointment of director Narendra Kumar Lodha, and the appointment of new secretarial auditors.

Kalpataru One (Worli) Wins 'Best Integrated Marketing Campaign of the Year' at RealtyView Leadership Summit & Awards 2026 (Maharashtra)

Kalpataru's Worli luxury project 'Kalpataru One' was honoured with the 'Best Integrated Marketing Campaign of the Year' award at the RealtyView Leadership Summit & Awards 2026 held in Maharashtra.

Bombay High Court Directs Kalpataru Retail Ventures to Deposit 50% of ₹63.49 Crore MSEDCL Electricity Demand

Kalpataru Retail Ventures, a wholly owned subsidiary of Kalpataru Limited, faces a ₹63.49 crore final assessment demand from MSEDCL for alleged electricity violations at its mall; the Bombay High Court has ordered a 50% deposit while the matter remains under litigation.

Kalpataru Limited Approves Merger of Step-Down Subsidiary Kalpataru Hills Residency into Kalpataru Properties (Thane)

Kalpataru Limited's board approved the amalgamation of its step-down subsidiary Kalpataru Hills Residency Private Limited (KHRPL) into wholly-owned subsidiary Kalpataru Properties (Thane) Limited (KPTL) under Section 233 of the Companies Act, 2013. The internal restructuring aims to streamline the group's Thane real estate operations with no change to shareholding or material financial impact.

NCLT Mumbai Bench Approves Withdrawal of Kalpataru's Project Magnus Demerger Scheme; Order Received July 8, 2026

The National Company Law Tribunal (NCLT), Mumbai Bench Court III, Special Bench, has formally approved Kalpataru Limited's application to withdraw the scheme of arrangement that had proposed demerging Project Magnus in Bandra East from Kalpataru Properties Ltd. The order was received by the company on July 8, 2026.

CIT(A) Dismisses Abacus Real Estate's Income Tax Appeal for AY 2013-14, Sustaining ₹9.20 Crore Net Tax Demand

The Commissioner of Income Tax (Appeals), Mumbai dismissed the appeal filed by Abacus Real Estate Pvt Ltd, a wholly owned subsidiary of Kalpataru Limited, for Assessment Year 2013-14, sustaining additions to income and resulting in a net tax demand of ₹9.20 crore. Abacus Real Estate intends to contest the order before a higher appellate authority, and Kalpataru Limited has stated the order has no material financial impact on its operations.

India Ratings Upgrades Kalpataru Projects International's Long-Term Rating to 'IND AA+/Stable', Affirms Short-Term at 'IND A1+'

India Ratings & Research (Ind-Ra) has upgraded Kalpataru Projects International Limited's (KPIL) long-term bank loan facilities and NCDs from 'IND AA' to 'IND AA+/Stable'. Short-term facilities and proposed Commercial Paper were affirmed at 'IND A1+', signalling improved creditworthiness and supporting the company's planned ₹100 crore NCD issuance.

Kalpataru Projects International Secures ₹2,957 Crore in New Orders, Makes Strategic Entry into West Asia Water Market via JV

Kalpataru Projects International Limited (KPIL), the Kalpataru Group's listed EPC arm, announced new orders worth approximately ₹2,957 crore across its T&D, Buildings & Factories, and Water business segments on June 30, 2026. The order wins mark KPIL's first entry into the West Asia water infrastructure market, secured through a joint venture/consortium arrangement.

Kalpataru Projects International Completes Full Divestment of Kohima-Mariani Transmission Ltd Stake to Apraava Energy

Kalpataru Projects International (KPIL) completed the sale of its remaining ~26% equity stake in Kohima-Mariani Transmission Limited (KMTL) to Apraava Energy Private Limited on June 24, 2026, completing its full exit from the asset. The transaction follows a prior partial sale of 48% and marks KPIL's complete divestment from this non-core transmission asset.

Kalpataru Projects International Files BRSR for FY26, Reports Carbon Neutrality for TLI Division for Third Consecutive Year

Kalpataru Projects International Limited filed its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 on June 22, 2026, reporting that its Transmission Line International (TLI) division achieved carbon neutrality for the third consecutive year, offsetting 10,971 tCO2e. The company targets carbon neutrality by 2040 and water neutrality by 2032.

Kalpataru Properties (Thane) Subsidiary Files Appeals with GST Appellate Tribunal Against ₹4.43 Crore Demand for FY2017-18

Kalpataru Limited disclosed via a SEBI Regulation 30 filing that its wholly-owned subsidiary, Kalpataru Properties (Thane) Ltd, has filed appeals with the GST Appellate Tribunal against demand orders of ₹4.43 crore for FY2017-18. The company has stated the financial impact is not material.

Kalpataru Projects International's Kenya Branch Receives ₹80.95 Lakh Tax Assessment from Kenya Revenue Authority

KPIL's Kenya branch office received a tax assessment notice from the Kenya Revenue Authority for alleged non-payment of Profit Repatriation Tax, and the company plans to contest it.

DCIT Files ITAT Appeals Against Kalpataru Subsidiary Agile Real Estate for Assessment Years 2022-23 and 2023-24

The Deputy Commissioner of Income Tax has filed appeals with the Income Tax Appellate Tribunal challenging CIT(A) orders that had substantially reduced income additions for Agile Real Estate Pvt Ltd, a Kalpataru Limited subsidiary, for AY 2022-23 and 2023-24. Agile Real Estate has stated it will contest the appeals and expects a favourable outcome.

Kalpataru Projects International Appoints Gautam Mehra as Independent Director for Five-Year Term

Kalpataru Projects International's board approved the appointment of Gautam Mehra as an Additional Director designated as Independent Director for five years effective June 9, 2026, subject to shareholder approval at the 45th AGM. Mehra is a qualified Chartered Accountant and lawyer with four decades of experience including leadership of PwC's India Tax and Regulatory practice.

Kalpataru Projects International Receives Eswatini Revenue Service Tax Assessment Demanding ~₹99 Lakhs for FY2022-23 to FY2024-25

KPIL received a tax assessment order from the Eswatini Revenue Service demanding SZL 17,17,787 (~₹99.12 lakhs) for FY2022-23 to FY2024-25, arising from the wrongful addition of offshore supply revenue and disallowance of certain branch expenses. The company intends to file objections.

Kalpataru Limited Withdraws Demerger Scheme for Project Magnus in Bandra East

Kalpataru Limited's Executive Committee resolved on June 2, 2026 to withdraw its previously filed Scheme of Arrangement to demerge Project Magnus — a Bandra East, Mumbai development — from wholly owned subsidiary Kalpataru Properties Limited. The company confirmed there is no financial impact from the withdrawal.

Kalpataru's Bangur Nagar Project Named 'Kalpataru Elaara', Registered Under MahaRERA No. PM1180002600918

Kalpataru's previously unnamed upcoming project in Bangur Nagar, Goregaon West has now been formally launched as 'Kalpataru Elaara' with a MahaRERA registration number, moving the project from announced-upcoming to registered/launched status.

Kalpataru Projects International Bags ₹2,002 Crore in Fresh Orders Across T&D, Buildings & Railways Segments

Kalpataru Projects International Limited (KPIL) announced new contracts and notifications of awards totalling approximately ₹2,002 crore on June 1, 2026, spanning its Power T&D, Buildings & Factories, and Railways business verticals across domestic and international markets.

Kalpataru Bags Ashokgram Cluster Redevelopment in Kandivali East with ₹1,250 Crore GDV

Kalpataru Limited announced the signing of a major cluster redevelopment project integrating five adjacent housing societies in Ashok Nagar, Kandivali East — spanning ~2.8 acres with free-sale potential of ~0.37 million sq ft and an estimated GDV of ₹1,250 crore.

Kalpataru Properties Plans ₹1,635 Crore Debt Raise via Private Credit Bonds at 8% Coupon

Kalpataru Properties is planning to raise ₹1,635 crore through four-year bonds at an 8% quarterly coupon via private credit investors, marking the developer's return to debt markets after a two-year gap. GSS India Opportunities AIF has reportedly committed to 50% of the issue.

Kalpataru Projects International Sets ₹30,000 Crore Order Win Target for FY27 with 15% Revenue Growth Guidance

Kalpataru Projects International (KPIL) guided for ₹30,000 crore in order inflows and 15% revenue growth in FY27, targeting an order book of ₹65,000–70,000 crore. The company also outlined expansion into new EPC verticals including battery storage, hydrogen, nuclear, and overseas water and airport infrastructure.

Kalpataru Projects International (KPIL) Reports Record FY26 Revenue of ₹27,143 Crore, PAT Surges 77% YoY; Board Recommends ₹11 Dividend

Kalpataru Projects International Limited (KPIL), the group's listed EPC arm, posted its highest-ever annual revenue of ₹27,143 crore for FY26, a 22% year-on-year jump, with consolidated PAT surging 77.57% to ₹1,040 crore. The board recommended a final dividend of ₹11 per share and reported an all-time-high order book of ₹65,457 crore.

Kalpataru Projects International Receives Partial GST Relief: Appellate Authority Reduces Penalty to ₹56.63 Lakhs from ₹2.64 Crores

Kalpataru Projects International (KPIL) received partial relief in a GST dispute when the Appellate Authority reduced the penalty to ₹56.63 lakhs from the original ₹2.64 crore demand covering FY2017-18 to FY2021-22. KPIL intends to file a further appeal before a higher authority.

Kalpataru Limited Confirms Near-Complete Utilisation of ₹1,590 Crore IPO Proceeds with ₹10.94 Crore Remaining as at March 31, 2026

Kalpataru Limited's monitoring agency CARE Ratings confirmed that ₹1,579.06 crore of the ₹1,590 crore raised in the company's June 2025 IPO had been deployed by March 31, 2026, in line with the stated objectives. Major allocations included ₹1,192.50 crore for debt repayment, with only ₹10.94 crore remaining unutilised.

Kalpataru Limited Board Approves Composite Scheme to Demerge Korum Mall into Kalpataru Properties (Thane) and Merge Five Subsidiaries into Parent

Kalpataru Limited's board has approved a Composite Scheme of Arrangement to simplify the group's corporate structure: the Korum Mall business will be demerged into Kalpataru Properties (Thane), while Kalpataru Retail Ventures and four other associated entities — Alder Residency, Kalpataru Residency, Ardour Developers, and Aspen Housing — will be merged into Kalpataru Limited. The scheme is subject to NCLT and regulatory approvals, with a proposed effective date of 1 April 2026.

Kalpataru Limited Reports Record FY26 Pre-Sales of ₹5,280 Crore, Net Profit Up 14x YoY in Q4 FY26

Kalpataru Limited (real estate developer) reported Q4 FY26 revenue of ₹1,693.73 crore (up 184% YoY) and net profit of ₹200.47 crore (up 14x YoY), with full-year FY26 pre-sales reaching an all-time high of ₹5,280 crore, a 17% increase year-on-year.

Kalpataru Subsidiary Ananta Landmarks Receives Reduced GST Appellate Order of ₹4.01 Crore for FY 2021-22

Kalpataru Limited disclosed that its wholly owned subsidiary Ananta Landmarks Private Limited received a GST appellate order dated May 8, 2026, reducing the demand for FY 2021-22 from ₹5.49 crore to ₹4.01 crore. Ananta Landmarks intends to file a further appeal before the GST Appellate Tribunal and expects a strong case.

Kalpataru Limited Issues ₹790 Crore Corporate Guarantees to ICICI Bank for Subsidiary Term Loans

Kalpataru Limited disclosed that it has issued corporate guarantees totalling ₹790 crore to ICICI Bank to secure Rupee Term Loan facilities for two wholly owned subsidiaries — Agile Real Estate Private Limited (₹400 crore) and Agile Real Estate Dev Private Limited (₹390 crore) — each with a tenor of up to 60 months.

Kalpataru Projects International Completes Buyout of Remaining 35% Stake in Saudi JV, Kalpataru Projects Arabia Company Now Wholly Owned Subsidiary

Kalpataru Projects International Limited (KPIL) completed the acquisition of the remaining 35% equity stake in its Saudi Arabian joint venture, Kalpataru Projects Arabia Company (formerly Kalpataru IBN Omairah Company Limited), for SAR 10 million, making it a wholly owned subsidiary effective 14 April 2026. The move consolidates KPIL's full operational control over its power transmission and distribution EPC business in Saudi Arabia.

ASK Property Fund Exits ₹190 Crore Investment in Kalpataru Advay at 18% IRR

ASK Property Fund successfully exited its ₹190 crore growth capital investment in Kalpataru Advay, Borivali, realising ₹244 crore at an 18% IRR and 1.3x multiple. The exit underscores strong early sales momentum at the project.

Kalpataru Limited Subsidiary AREPL Receives ₹2.52 Crore GST Demand Order for FY2018-19

Kalpataru Limited disclosed that its subsidiary AREPL received a GST demand order of ₹2.52 crore for FY2018-19. The company stated the order does not have a material financial impact.

Kalpataru Projects International Secures ₹4,439 Crore in T&D Orders, Surpasses FY26 Annual Target

Kalpataru Projects International (KPIL) secured approximately ₹4,439 crore in new power transmission and distribution orders in March 2026, including contracts in Africa, India, and Sweden. The win enabled KPIL to surpass its FY26 annual order intake target of ₹26,000 crore.

Kalpataru Limited Subsidiary Receives Favourable Income Tax Appeal Orders from Mumbai Commissioner for Five Assessment Years

Kalpataru Limited disclosed on March 25, 2026 that a subsidiary received favourable income tax appeal orders from the Commissioner of Income Tax (Appeals) in Mumbai, covering assessment years 2019-20 through 2023-24, with substantially reduced additions to income.

Kalpataru Projects International Secures ₹2,471 Crore in Fresh Orders Across T&D, Urban Infrastructure and Buildings Segments Including Metro Rail JV

Kalpataru Projects International Limited (KPIL) announced new order wins worth approximately ₹2,471 crore spanning Power T&D (domestic and international), Urban Infrastructure and Buildings & Factories segments in India and overseas. The contracts include an underground metro rail project in India awarded via a joint venture or consortium.

Kalpataru Signs Redevelopment Agreement for Shree Mahalakshmi CHS in Andheri West with ₹1,400 Crore GDV

Kalpataru Limited announced it has secured the redevelopment of Shree Mahalakshmi Cooperative Housing Society in Andheri West, Mumbai — a three-acre project with ~0.4 million sq ft carpet area potential and an estimated GDV of ₹1,400 crore.

KPIL Brazilian Subsidiary Fasttel Engenharia Files for Judicial Reorganization, KPIL to Recognise Provisions; ₹90.5 Crore Goodwill Impairment Recognised in FY26

Kalpataru Projects International Limited (KPIL) disclosed that its step-down wholly owned Brazilian subsidiary, Fasttel Engenharia S.A., filed for Judicial Reorganization (Recuperação Judicial) under Brazilian law on 5 March 2026. KPIL stated it would assess its financial exposure and recognise appropriate provisions, with FY26 results later reflecting a ₹90.5 crore goodwill and intangibles impairment.

Kalpataru Verbina Launched on JVLR, Jogeshwari East – Low-Density Tower of 28 Residences with RERA Registration PR1180002501787

Kalpataru Group has launched Kalpataru Verbina, a premium low-density residential tower on Jogeshwari–Vikhroli Link Road (JVLR), Jogeshwari East, Mumbai. The project offers 28 exclusive 3.5-BHK residences and is registered under MahaRERA number PR1180002501787.

Kalpataru Signs Redevelopment Agreements for Two Housing Societies in Chembur and Goregaon with ₹2,100 Crore GDV Potential

Kalpataru Limited signed redevelopment agreements for two housing societies spanning 7.5 acres in Chembur and Goregaon, Mumbai, with a combined development potential exceeding 1.5 million sq ft and an estimated GDV of ₹2,100 crore.

Kalpataru Limited Board Approves ₹350 Crore NCD Issuance Alongside Q3 FY26 Results

Kalpataru Limited's Board approved a ₹350 crore Non-Convertible Debenture (NCD) issuance on January 31, 2026, announced alongside its Q3 FY26 financial results. The NCD issuance supports the company's ongoing capital requirements.

Kalpataru Limited Reports Mixed Q3 FY26 Performance: Pre-Sales Decline 14% YoY, Collections Surge 17% YoY

Kalpataru Limited reported its Q3 FY26 operational performance with pre-sales declining 14% year-on-year while collections rose 17% YoY. The Board approved the unaudited standalone and consolidated financial results at its meeting held on February 6, 2026.