Operational Highlights for Q2 FY27
- Pre-Sales value: ₹1,258 Crore (down 5% YoY from ₹1,329 Crore in Q2 FY26)
- Collections: ₹1,189 Crore (flat YoY compared to ₹1,182 Crore in Q2 FY26)
- Area sold: 0.84 msf (up 7% YoY from 0.78 msf in Q2 FY26)
- Average Sale realization: ₹15,046 per sq.ft.
Operational Highlights for H1 FY27
- Pre-Sales value: ₹2,587 Crore (flat YoY compared to ₹2,577 Crore in H1 FY26)
- Collections: ₹2,554 Crore (up 9% YoY from ₹2,348 Crore in H1 FY26)
- Area sold: 1.66 msf (up 24% YoY from 1.34 msf in H1 FY26)
- Average Sale realization: ₹15,607 per sq.ft.
Financial Performance (Consolidated as per IND-AS 115)
Q2 FY27 Financials:
- Revenues from Operations: ₹437 Crore
- Adjusted EBITDA: ₹73 Crore
- Adjusted EBITDA margin: 16.6%
- Profit After Tax (PAT): ₹(71) Crore (loss)
H1 FY27 Financials:
- Revenues from Operations: ₹909 Crore
- Adjusted EBITDA: ₹167 Crore
- Adjusted EBITDA margin: 18.4%
- Profit After Tax (PAT): ₹(100) Crore (loss)
Debt Position
- Net Debt as on September 30, 2026: ₹8,323 Crore
- Net Debt/Equity Ratio: 2.1x
Project Completion and Accounting Method
The company follows a Project Completion Method (PCM) for projects started post-April 2022, recognizing revenue only upon obtaining Occupation Certificate (OC), while marketing and corporate overheads are expensed in the quarter they incur. Out of 19 ongoing projects, PCM is followed for 13 projects. During H1 FY27, the company received OCs for projects aggregating approximately 2.37 msf of area, corresponding to around 2,200+ apartments/units.
New Launches
- Launched premium residential project Kalpataru Elaara in Goregaon West, Mumbai
- Project features 2, 3 and 4 BHK residences with over 25+ lifestyle amenities
- Strategically located on MG Road off Link Road with connectivity to Bangur Nagar Metro Station
Management Commentary
Mr. Parag Munot, Managing Director, commented on the resilient performance reflecting the strength of the brand and execution capabilities. He highlighted the company's focus on disciplined execution, customer engagement, and cash flow generation. The company remains focused on expanding its portfolio in high-potential markets and enhancing operational efficiencies.
Mr. Munot also commented on the company being among the first real estate developers in Mumbai to adopt Maharashtra Government's Model Sub-Registration Office (SRO) framework, which aims to make the property registration process faster and more efficient for homebuyers.
Company Overview
Kalpataru Limited is one of the largest developers in MMR with 86 completed projects aggregating to more than 25.1 Million Square Feet of Developable Area and 29 Ongoing and Forthcoming projects spread over ~41.7 MSF across Mumbai, Thane, Panvel, Lonavala, Pune, Nagpur, Noida and Hyderabad.