Kalpataru Power to Construct Company’s Corporate Office

Kalpataru Power Transmission board has approved capital expenditure towards construction of corporate office of the company. The company said it had appointed independent international real estate consultants, valuation agencies

BY Realty Plus
Published - Friday, 11 Dec, 2020

Kalpataru Power to Construct Company’s Corporate Office

Kalpataru Power Transmission board has approved capital expenditure towards construction of corporate office of the company. The company said it had appointed independent international real estate consultants, valuation agencies and legal advisors to assist in identification and evaluation of various options. The board of directors of the company has approved capital expenditure of approximately Rs 207 crore towards purchase of land and will further incur approximately Rs 170 crore towards construction, municipal charges, taxes and for other approvals for development & construction of corporate office of about 1,79,000 square feet of leasable area near its existing office at Santacruz, Mumbai. The total cost per square feet would be in the range of approximately Rs 21,000. The company is expecting to complete the construction within a period of 24-30 months. The plan is aimed at meeting long term space requirement of the company to accommodate its growth plans and to consolidate businesses of the company and its subsidiaries' at a single location. The construction of corporate office will help the company to reduce rental costs, bring better efficiency and synergy of working together at a single location.