Mofatraj Munot is the Chairman at Kalpataru Retail Ventures Pvt. Ltd. He started developing property in 1969 after working with his uncle. During the 1970s, the real estate tycoon managed to snatch lucrative construction contracts in the Middle East oil boom. For the unversed, Mofatraj Munot has built the palace of the ruler of Sharjah.
Mofatraj Munot’s career and journey
His 50-year-old company has been named after a mythical tree Kalpavruksha (a mythological tree of wish fulfillment). As mentioned above, after working with his uncle and gaining experience, Mofatraj Munot started developing real estate himself. He bagged big contracts to construct properties in the Middle East during the oil boom of the 1970s.
The company also started building Mumbai’s tallest residential building in the 1970s. It managed to hold the record for around 25 years. Today, the company’s flagship project is an 11.2-million-sq-ft township in Mumbai.
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Currently, Kalpataru is being run by Mofatraj Munot’s son Parag. He is the Managing Director at Kalpataru Ltd and is responsible for the day to day operations of the company.
Mofatraj Munot’s net worth
Mofatraj Munot has an estimated net worth of $1.7 billion, as per Forbes. Engineering contractor Kalpataru Power Transmission is Munot’s only listed asset.