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Business Standard
5 hours ago
- Business
- Business Standard
IPO-bound Kalpataru sells properties worth Rs 2,727 cr in Apr-Dec FY25
Real estate developer Kalpataru Ltd, which will launch Rs 1,590-crore IPO next week, sold properties worth Rs 2,727.24 crore during April-December of the last fiscal on strong demand for housing and commercial assets. The company sold properties worth Rs 3,201.98 crore in 2023-24, according to its updated red herring prospectus (RHP) filed with Sebi. The latest document has updates till the third quarter of the 2024-25 fiscal only. Mumbai-based Kalpataru focuses on the development of residential, commercial, retail and integrated township projects. It is also into the redevelopment of societies. The company has fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore initial public offering (IPO), which will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23. The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no offer for sale (OFS) component. It proposes to utilise funds for the payment of debt and for general corporate purposes. At the upper end of the price band, the company is valued at around Rs 8,500 crore, brokerage houses said. Kalpataru Ltd Managing Director Parag M Munot expressed confidence that the company's IPO would be successful despite global conflicts and economic uncertainties. He noted that India's growth story is intact, driving demand across sectors, including real estate. Munot said the company has a huge portfolio of nearly 50 million square feet, which includes 25 million square feet of ongoing projects, 16 million square feet of forthcoming, and nearly 8 million square feet of projects at the planning stage. Kalpataru is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR) in Maharashtra. Since its inception, the company has completed 75 projects, comprising 16 million square feet. While a majority of the company's projects are located in the MMR and Pune (Maharashtra), it also has projects in Hyderabad (Telangana) and Noida (Uttar Pradesh). Kalpataru Group was established in 1969 by Mofatraj P Munot. The group has a multi-national presence and has operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility management. Further, Kalpataru Projects International Ltd is listed on the NSE and BSE.
Hindustan Times
13 hours ago
- Business
- Hindustan Times
Kalpataru IPO launch next week; focus on sub- ₹10 crore housing in MMR and Pune
Mumbai-based real estate developer Kalpataru, which is set to launch its Initial Public Offering (IPO) next week, announced that it will continue to focus on key markets including the Mumbai Metropolitan Region (MMR), Pune, and Hyderabad, where it already has ongoing projects. The company noted that a majority of the housing demand falls within the ₹1 crore to ₹10 crore price bracket, which aligns with its existing inventory. Of its 50 million sq. ft. portfolio, approximately 70% is priced up to ₹10 crore, with a substantial portion available for under ₹3 crore. "The demand if we go to see today is majority in the ₹1 crore to ₹10 crore segment, and this is what our supply is. Going further, we will adapt as per the demand. However, the majority of the demand, at least in Mumbai, is for ₹1 crore to ₹10 crore," said Parag Munot, managing director, Kalpataru. "We also have redevelopment projects in our portfolio, and we are very positive about redevelopment projects in MMR. There is no doubt that the MMR and Pune markets have good depth, but we also see depth in Delhi-NCR, Hyderabad, and Bengaluru," Munot said. Also Read: Kalpataru inks redevelopment agreements with two housing societies in Mumbai with a revenue potential of ₹2,000 crore The company also has a strong presence in the premium and luxury segments of the Mumbai real estate market. Almost 95% of its portfolio is in the residential segment, and 73% is in the Mumbai Metropolitan Region. The company has completed over 120 projects at the group level. In addition to the residential segment, the company has commercial real estate projects in MMR and Pune and plotted development projects in MMR and Nagpur. Also Read: Mumbai-based Kalpataru Ltd plans to foray into Nagpur real estate market, may launch a plotted development project The company will open its IPO on June 24 and close on June 26. The price band of the Issue has been fixed from ₹ 387 per equity share to ₹ 414 per equity share. The company plans to raise ₹1,590 crore from the IPO. Also Read: Mumbai real estate news: Blackstone-backed ASK Property Fund invests ₹190 crore in Kalpataru's project The IPO proceeds will be primarily used for debt repayment, a strategic move to strengthen the company's balance sheet. As of December 31, 2024, Kalpataru reported total assets of ₹15,562 crore.
Time of India
28-05-2025
- Business
- Time of India
'50% of our growth will come from GCCs': Here are the trends shaping India's managed workspaces sector
Fully-customisable and branded office spaces ready within 30-45 days Access to lounges, gyms, and cafes Expert-designed spaces that are IGBC and LEED certified Flexible lease terms with utility costs included Complete administrative management, including visitor management ET Special Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India is emerging as one of the fastest-growing hubs for global capability centres (GCCs), which serve as strategic and integrated service, tech, and innovation hubs for multinational organisations. Mid-market GCCs in particular are leading this trend, accounting for 27% of all GCCs in India. And new centres are increasingly preferring flexible workspace operators — the kind that offer tailormade spaces and leases that are flexible as per evolving client which operates in Pune, Mumbai, the National Capital Region, Hyderabad, and Kolkata, boasts a diverse client roster with names such as Capgemini, BDO Rise, GoDaddy, SBI General, Carrier, L&T, DSK Legal, amongst others. As India's first and only managed workspace operator with an IGBC Platinum rating, it is best-placed to spearhead the future of work for India — and GCCs:'We are at about 700,000 sq ft. By the end of this year, we should be close to around a little over a million sq ft. That's a growth of 60%. And almost half of this will come from GCCs,' says UrbanWrk Founder and CEO Anuj is a veteran in the luxury real estate sector, having led the creation of nearly 40 million sq ft of space as part of the leadership team at Kalpataru. His experience with the real estate giant and penchant for sustainability and unique designs is a unique proposition for GCCs scouting for agile, yet green spaces that align with corporate goals. All UrbanWrk properties are built on the principle of biophilic design, which incorporates natural lighting, plants, and organic materials. They are also constructed with BIS-certified non-toxic materials, have energy-efficient lighting, rainwater harvesting, and rigorous waste management, as well as HVAC standards and indoor air quality Bengaluru, Pune, and Hyderabad remain the first ports of call for GCC expansion in India, Munot shares that Chennai, Kolkata, Indore, Ahmedabad, and Jaipur are emerging on the radar because of their more efficient unit economics.'I also think GCCs will look at places like Indore, Ahmedabad, and Tier-II cities once they are settled in the country. Because it's not just about finding talent the first time. It's about having a continuous stream of talent so you can expand operations,' he availability of talent is just one challenge GCCs encounter on the path to realising operational efficiency at scale. Infrastructure and managing remote workforces are key hurdles in local contexts. Unreliable internet connectivity, power outages, traffic congestions, and poor employee engagement in distributed environments also disrupt operational is tackling key operational and user experience challenges through integrated, tech-driven solutions. At the core is its proprietary UrbanWrk app, a centralised platform enabling seamless member engagement, real-time meeting room bookings, and facility management. The infrastructure includes secure access control systems, enterprise-level cybersecurity protocols, and dual internet service providers to ensure consistent uptime. Additionally, workspaces are configured with complete wireless setups and interactive displays equipped with digital annotation capabilities, designed to support modern, collaborative work to Anuj Munot, as many as 2,000-plus GCCs are currently entering or exploring the Indian market. Considering the whopping demand for asset-light, cost-effective, and future-forward flexi workspaces, it's no wonder UrbanWrk is projecting a doubling of its capacity by 2026 end.
Mint
22-04-2025
- Business
- Mint
Navneet Munot's investment philosophy: Key takeaways from his journey
Navneet Munot, MD and CEO of HDFC Asset Management Company (HDFC AMC) is one of the most recognised names in India's mutual fund industry. He has over three decades of experience managing assets. Taking care of assets worth over ₹ 6 lakh crore, Munot has played an immensely important role in shaping up the investment landscape in India. He has also held several prominent positions at SBI funds management and Morgan Stanley investment management. His roles at these leading firms have contributed to the growth of the Indian financial sector. Serving as the Chairman of the Association of mutual funds in India (AMFI) he has also participated in key SEBI committees on ESG and market regulation. Now, at the core of Munot's investment strategy is the concept of STP. Further, STP stands for Sound investments, Time and Patience. He puts emphasis on long term, calm and disciplined investing over short term, thrill based speculation, stressing that wealth creation is a gradual process of taking several good investment decisions and is not about rushing with investments. This process of compounding wealth by thinking long term, benefits those who start with their investments early and remain committed. Munot's own investment journey started in the 1980s when Sensex was in its initial stages. Today the same index hovers around 79,500 levels. To further elaborate on the same and the role of compounding let us take a look at the past 5 year returns of Nifty 50: Year Nifty 50 (yearly return) 2025 1.66% (YTD) 2024 8.75% 2023 19.42% 2022 4.32% 2021 24.12% Source: PrimeInvestor The above data clearly directs investors to focus on the long-term compounding process instead of short term thrills. On a long term basis Nifty 50 generally compounds by 13-14%, that is why investors should keep these figures in mind while making investment decisions. Further, Munot's strategy elaborates on not only focusing on the process of compounding but also on the importance of composure, patience and staying invested in strong businesses that have delivered strong earnings. He has always encouraged new investors to stick to this simple investment strategy even during stock market corrections, volatility and economic downturns. Despite uncertainties related to Trump tariffs, US-China trade war and domestic market fluctuations, Munot has always stayed bullish on India's long-term growth potential. Indian equity markets are hence a stock picker's paradise if someone focuses on building knowledge, reading and understanding the fundamentals of the Indian economy. This simple idea has been elaborated by him through numerous press interactions. India's young population, demographic dividend and the ongoing economic reforms are key drivers of market potential and future growth possibilities. According to his thesis, It is also important to remember that market corrections in India present opportunities for those investors who can focus and identify undervalued stocks. The rapid financialisation of savings in India, with SIPs now contributing more than ₹ 24,000 crore in monthly inflows into mutual funds is also a crucial point to keep in mind while making investment decisions. Munot has long been a proponent of sensible investing, championing the integration of environmental, social and governance factors into his holistic investment thesis. He has been at the forefront of pushing for sustainable investment ideology in India during his association with SEBI as the chair of the first ESG committee. Through these ideas, investors can inculcate the habit of making sensible investment decisions while adhering to social responsibility norms and aligning with global standards. A key step in this particular process is to read and stay informed by reading extensively about the social, environmental and governance (ESG) aspects of investing and incorporating and inculcating these ideals into investment ideologies. Munot, like several other prominent investment leaders envisions India becoming a major player in the global investment ecosystem. Through his numerous media interactions he has projected that India's demographic dividend, coupled with its rapidly evolving digital infrastructure along with government led initiatives will create significant investment opportunities in the years to come. To make the most of this growth opportunity retail investors in India should diligently read, discuss with certified investment advisors, focus on the process of long term compounding and invest in businesses that can scale the numbers and deliver in the long run. SIPs have now turned a corner and are the real deal today in the country. The number of individuals opting for a disciplined and systematic approach towards investment have rapidly risen over the past few years. The major reason for this is both rising financial and digital literacy. Today with more than ₹ 24,000 crore flowing into mutual funds SIPs every month according to AMFI data, this trend is a major catalyst for the financialisation of savings in India. All sensible retail investors should read and understand this trend and apply the simple investment ideals shared by Munot to make considerable wealth in the years to come. The ideals of Munot as elaborated above are easy to replicate but difficult to sustain for longer periods of time. Still, if you can focus, select strong businesses, discuss with investment professionals and build a long-term portfolio. Post the same hold your ground for several years, then Indian equity markets can really transform your life as an investor. Hence, Navneet Munot's philosophy offers invaluable lessons for Indian investors. Particularly at a time when according to a recent report of SEBI 9 out of 10 individuals participating in F&O are losing big money. Not only this, the report further added that the aggregate losses of individual traders exceeded ₹ 1.8 lakh crores over the three - year period between FY22 and FY24. In such an explosive environment it becomes even more important for investors to learn and listen to the words of wisdom shared by reputable financial market leaders such as Navneet Munot and to practice sensible investing techniques after prudent discussions with their own financial advisor. Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers are advised to consult with a certified financial advisor before making any investment decisions. First Published: 22 Apr 2025, 09:56 AM IST
