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The Kalpataru Group has sold six floors in its Virtus office project in Vikhroli (West), Mumbai, to Bernhard Schulte Shipmanagement (BSM) for INR 304.05 crore. The deal, covering the 15th to 20th floors and spanning about 93,226 sq ft of RERA carpet area, was registered earlier this week with a stamp duty of INR 18.24 crore. Possession is scheduled for December 2028, ahead of the project's overall completion in December 2027. BSM said the acquisition supports its India expansion and growing maritime operations. For Kalpataru, this transaction builds on INR 1,200 crore in commercial sales over the past year, reflecting strong demand for Grade-A office space in Mumbai's JVLR-Powai-Vikhroli corridor.
The Kalpataru Group has sold six floors within its Virtus office-project in Vikhroli (West), Mumbai to Bernhard Schulte Shipmanagement for INR 304.05 crore. The transaction was registered earlier this week. The floors concerned are the 15th through 20th levels of the building on the Jogeshwari-Vikhroli Link Road (JVLR) corridor. The deal covers around 93,226 sq ft of usable RERA carpet area and roughly 1.02 lakh sq ft of built-up area. Stamp duty for the deal stood at approximately INR 18.24 crore. The buyer is being offered possession in December 2028 while the overall project is slated for completion by December 2027. Advertisement
BSM said the acquisition is part of its strategy to expand in India and to provide modern, flexible workspace for its teams. It noted that India is a key market due to a large skilled seafarer base and growing importance in global trade. The company has been expanding its presence here, including training infrastructure such as a maritime training centre in Kochi.
For Kalpataru, this sale adds to recent commercial momentum. The developer has sold roughly INR 1,200 crore of commercial space over the past year, and in this project it currently has about 2.5 lakh sq ft of premium office space remaining. The Virtus building itself occupies roughly 1.12 acres and is a 30-storey tower in the JVLR-Powai-Vikhroli belt, a micro-market increasingly favoured for Grade-A office space by tech, consulting and global capability firms. Demand in the eastern suburbs of Mumbai continues to strengthen owing to limited supply and improving connectivity.
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