Kalpataru to acquire 16.67% stakes in two Thane park city entities for ₹52 crore
- Mergers & acquisitions
- Real estate development
Reviewed byRachit TripathiBlacklitt Research
Kalpataru (NSE: KALPATARU) said in a filing on 02 Nov 2026 that its wholly owned subsidiary Kalpataru Properties Limited will acquire 16.67% stakes in Agile Real Estate Private Limited and Agile Real Estate Dev Private Limited, both developing the Kalpataru Park City project at Thane. The cash cost is ₹52.05 crore for the first and ₹49.14 lakh for the second.
Key highlights
- Cost for AREPL shares: ₹52.05 crore in cash
- Cost for AREDPL shares: ₹49.14 lakh in cash
- Stake in each entity: 16.67% of equity share capital
- Completion: within 60 days, subject to requisite approvals
The acquisition in numbers
| Item | Detail |
|---|---|
| Acquirer | Kalpataru Properties Limited, a wholly owned subsidiary of Kalpataru |
| Target entities | Agile Real Estate Private Limited (AREPL) and Agile Real Estate Dev Private Limited (AREDPL) |
| Shares acquired in AREPL | 8,00,83,333 equity shares, 16.67% of share capital |
| Shares acquired in AREDPL | 12,284 equity shares, 16.67% of share capital |
| Cost of AREPL shares | ₹52.05 crore, paid in cash |
| Cost of AREDPL shares | ₹49.14 lakh, paid in cash |
| Completion | Within 60 days, subject to requisite approvals |
Scale of the two entities
AREPL reported turnover of ₹410.9 crore for the financial year ended 31 Mar 2026, down from ₹604.82 crore in FY 2024-25 and up from ₹333.99 crore in FY 2023-24. AREDPL had no revenue from operations in FY 2025-26 and nil turnover in the two earlier years shown.
Both entities operate only in India, in real estate development. The filing says the 16.67% stakes will make each a step-down wholly owned subsidiary of Kalpataru once the deal completes.
What the filing says about the project
The company says the Kalpataru Park City project has about 25 acres of central park that is fully operational, and that the project is conducive to residential, retail and commercial use. It says the investment will open up and enhance business opportunities for the township and will entitle the company to 100% of project surplus and cash flows.
What the acquisition means for Kalpataru's shareholders
The acquisition is a cash purchase of minority stakes that would take the two entities into the group as wholly owned subsidiaries, with the company stating that it will receive 100% of the project's surplus and cash flows.
Not stated: the source of funds beyond the stated cost, the seller of the shares, the reason for the price relative to the entities' value, and the effect on the company's results. The next dated step in the filing is completion, which the filing says will take place within 60 days, subject to requisite approvals.
Filed with BSE on . Reference: Original filing (PDF)
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