Cholamandalam Investment and Finance Company Ltd. has awarded a Rs.540 crore works contract to Kalpataru Projects International Ltd. for constructing its new corporate office in Chennai. The project, set to be completed in 33 months, marks a major infrastructure expansion for the financial services firm.
Cholamandalam Investment and Finance Company Ltd. (Chola), part of the Murugappa Group, has announced a significant development in its corporate infrastructure. The company has finalized a contract for building its new headquarters in Chennai, underscoring its growth ambitions and long-term commitment to the region.
Project Overview
The contract has been awarded to M/s. Kalpataru Projects International Ltd., a domestic entity known for large-scale construction projects. The new corporate office will be located at Velachery Main Road, Guindy, Chennai, with a project timeline of 33 months.
Financial Scope
The works contract is valued at Rs.540 crores, reflecting Chola’s substantial investment in strengthening its operational base. The company clarified that the contract does not involve related party transactions and is executed at arm’s length.
Key Highlights
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Contract awarded to Kalpataru Projects International Ltd.
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Project value: Rs.540 crores
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Location: Velachery Main Road, Guindy, Chennai
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Completion timeline: 33 months
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No promoter or related party interest involved
Sources: Company filing with NSE and BSE.