In February 2021, Kalpataru Projects International (formerly Kal ataru Power Transmission) had announced that its wholly owned subsidiary in Brazil namely Kalpataru Power do Brasil Participações Ltda. (KPBPL) has signed definitive agreement to acquire controlling stake of 51% in Fasttel Engenharia Ltda.,Brazil (Fasttel) for $8.80 million, subject to customary adjustments.

In April 2021, KPBPL had concluded acquisition of 51% stake in Fasttel.

Announcing updates on the same, Kalpataru Projects said that KPBPL has acquired balance 49% equity stake in Fasttel for Brazilian Real (BRL) 9,710.90. Accordingly, Fasttel has now become WOS of KPBPL.

Fasttel specializes in engineering, procurement, and construction (EPC) and maintenance of power transmission lines, substation and distribution systems across various voltage range up to 750 kV. The company mainly operates into three business areas, comprising of EPC of substation, transmission and distribution network services with revenue of around $47 Million in 2020 and has a profitable track record.

Fasttel had recorded a gross turnover of approximately $59.8 million and a loss of approximately $5.4 million in the fiscal year ended on 31 March 2023. Its networth as on 31 March 2023 was approximately $3.7 million and the order book was $117 million.

Kalpataru Projects said that the acquisition will further strengthen KPIL's position in the Brazilian and Latin American market. Brazil and Latin America are very attractive markets for T&D infrastructure since a lot of projects are being launched in said markets. The company shall gain from the increased investments and upcoming auctions in the local market.

Kalpataru Projects International is a leading player in the domestic transmission and distribution (T&D) sector. The company undertakes turnkey contracts for setting up transmission lines and substations for extra-high-voltage power transmission. Over the years, it has diversified into civil contracts, railways, and oil and gas pipeline construction.

The company's consolidated net profit jumped 45.8% to Rs 156 crore on 18.1% rise in net sales to Rs 4,882 crore in Q4 FY23 over Q4 FY22.

The scrip rose 0.20% to currently trade at Rs 556.20 on the BSE.