Global maritime major Bernhard Schulte Shipmanagement (BSM) has acquired a six-floor built-to-suit office space in the commercial project Kalpataru Virtus at the LBS-JVLR junction in Vikhroli, Mumbai, for over ₹304 crore, according to people familiar with the development.
The transaction, concluded on Thursday, is among the largest office space acquisitions by an international shipping group in India.
The newly acquired space will serve as the German company’s India headquarters, bringing together its ship-management, crewing, technical, and digital operations under one roof, while providing room for future expansion, one of the persons cited said.
BSM has purchased nearly 1 lakh sq ft of office space spread across the 15th to 20th floors of Kalpataru Virtus. The commercial tower, part of a development comprising a basement, ground floor, ten levels of podium parking and 20 floors of office space, is scheduled for completion by December 2027. The entire project offers a total carpet area of around 2.81 lakh sq ft.
The deal further strengthens Kalpataru’s commercial portfolio momentum. The listed developer has reported commercial sales of around ₹1,200 crore in the past year and currently holds about 2.5 lakh sq ft of carpet area across its ongoing projects.
The new office is expected to help BSM streamline local operations and improve coordination between business verticals. The acquisition also reflects a broader trend of multinational companies opting for built-to-suit office assets to support long-term India strategies.
“This investment reflects our ongoing commitment to India as a key location for our global ship management operations and to contributing to the country’s growing maritime sector… India is an important market for BSM because of its large pool of skilled seafarers and its growing importance in global trade,” a BSM spokesperson said in an emailed response confirming the transaction.
Over the years, BSM has significantly expanded its presence in India, including investments in training infrastructure such as its Maritime Training Centre in Kochi, to grow talent and meet global demand for qualified crew. The company also sees opportunities for technical consultancy and specialised maritime solutions in the Indian market.
India’s commercial office property market has maintained strong momentum over the past year, supported by robust demand from global corporations, technology firms and manufacturing majors expanding their India footprint. Large-scale office acquisitions and pre-commitments continue to rise as occupiers seek long-term, flexible, and built-to-suit workspaces. Developers across Mumbai, Bengaluru, Hyderabad and Pune are witnessing healthy leasing and ownership activity from both domestic and international companies.
Part of the Hamburg-based Schulte Group, BSM manages more than 670 vessels and employs around 40,000 seafarers and 2,000 shore-based employees across over 30 locations worldwide. In India, Bernhard Schulte Shipmanagement (India) Pvt. Ltd. has been operational since 2000.
