Kalpataru Sells Prime Office Space in Mumbai to German Maritime Firm
Kalpataru Group has sold six built-to-suit office spaces in its Kalpataru Virtus project in Mumbai to Bernhard Schulte Shipmanagement for ₹304.05 crore, marking one of the highest-value commercial property deals in the region.
Commercial Real EstateOffice SpaceKalpataru GroupBernhard Schulte ShipmanagementMumbaiReal EstateNov 10, 2025
The transaction involves the purchase of six office floors (15th to 20th) in the project, which is situated on the Jogeshwari–Vikhroli Link Road. The project is being developed by Mehal Enterprises LLP, as indicated in the documents. The buyer paid ₹18.24 crore in stamp duty as part of the transaction. Possession of the premises is proposed for December 2028, with the project slated to be completed by December 2027.
Bernhard Schulte Shipmanagement confirmed the transaction, stating, “We can confirm that BSM recently secured office space in Kalpataru Virtus in Mumbai to accommodate our continued growth and to provide a modern, flexible workspace for our teams. This investment reflects our ongoing commitment to India as a key location for our global ship management operations and to contributing to the country’s growing maritime sector.”
India is an important market for BSM due to its large pool of skilled seafarers and its growing importance in global trade. Over the years, the company has been expanding its presence and investing in training facilities, such as the Maritime Training Centre in Kochi. The market also offers opportunities for BSM's other services, including technical consultancy and specialized maritime services.
Bernhard Schulte Shipping is part of the Schulte Group, a global provider of maritime services, ship management, and offshore solutions, headquartered in Hamburg, with operations spanning over 30 countries. Sources indicate that Kalpataru has sold around ₹1,200 crore worth of commercial space to buyers, including ICICI Prudential and Bernhard Schulte Shipping, in the past year. Currently, Kalpataru has approximately 2.5 lakh sq. ft. of premium commercial office space available for sale.
Mumbai’s Grade-A office corridors, especially along the JVLR–Powai–Vikhroli belt, have emerged as a preferred micro-market for technology, consulting, life sciences, and global capability centres, according to experts. Kalpataru Virtus in Vikhroli (West) spans 1.12 acres and features a 30-storey tower. The project has a carpet area of more than 2.8 lakh sq ft, as per the company's website.
In previous office transactions in Mumbai, Qatar National Bank renewed its 8,079 sq ft office lease at Maker Maxity in Bandra Kurla Complex (BKC) at a starting monthly rent of ₹62.6 lakh, or ₹775 per sq ft, among the highest commercial lease rates in the country. In August 2025, global banking giant BNP Paribas secured a premium office space at Maker Maxity, leasing a 3,497 sq ft ground-floor unit at a monthly rent of ₹811 per sq ft. The deal, valued at around ₹17 crore over five years, solidified BKC as the country’s most expensive commercial district. Credit rating agency CRISIL Limited has also signed a 15-year lease agreement for approximately 2.5 lakh sq ft of office space, valued at ₹597 crore, in Hiranandani Lightbridge, located in the Saki Vihar area of Powai, Mumbai.
Frequently Asked Questions
What is the total value of the transaction between Kalpataru and Bernhard Schulte Shipmanagement?
The total value of the transaction is ₹304.05 crore.
How much usable RERA carpet area does the transaction cover?
The transaction covers 93,226 sq ft of usable RERA carpet area.
When is the proposed possession date for the office space?
The proposed possession date for the office space is December 2028.
What is the significance of this transaction for Bernhard Schulte Shipmanagement?
This transaction reflects BSM's commitment to India as a key location for their global ship management operations and their contribution to the country’s growing maritime sector.
How many commercial office spaces has Kalpataru sold in the past year?
Kalpataru has sold around ₹1,200 crore worth of commercial space to buyers, including ICICI Prudential and Bernhard Schulte Shipping, in the past year.
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