Kalpataru Q2 FY27 Pre-Sales at ₹1,258 Crore

Company Overview

Kalpataru Limited is a leading real estate developer with integrated capabilities across land acquisition, project planning, design development, project execution, sales and marketing. The company has a legacy of over 57 years and a strong footprint in the MMR and Pune markets. The total development pipeline stands at 41.6 million square feet (msf).

Operational Highlights: Q2 FY27

Pre-Sales: ₹1,258 crore, representing a 5% decrease year-over-year (YoY)
Sales Collections: ₹1,189 crore, flat YoY
Area Sold: 0.84 msf, a 7% increase YoY
Average Realization per Sq. Ft.: ₹15,046

Operational Highlights: H1 FY27 (Half Year Ended September 30, 2026)

Pre-Sales: ₹2,587 crore, flat YoY
Sales Collections: ₹2,554 crore, a 9% increase YoY
Area Sold: 1.66 msf, a 24% increase YoY
Average Realization per Sq. Ft.: ₹15,607
Completions: 2.37 msf (Q1 FY27: 0.79 msf, Q2 FY27: 1.58 msf)
New Launches: 1.95 msf from 2 new projects and 2 towers in an ongoing project
Business Development: Added 1 Society Cluster Redevelopment (DA) with a Gross Development Value (GDV) of approximately ₹1,250 crore
Annuity Portfolio: 2 offices + 1 mall generating gross rent of ₹96 crore for H1 FY27, located in Mumbai and Thane

Financial Performance: Consolidated P&L (₹ Crore)

| Particulars | Q2 FY27 | Q2 FY26 | H1 FY27 | H1 FY26 |

| Revenue from Operations | 437 | 794 | 909 | 1,237 |

| EBITDA | (71) | 13 | (102) | (11) |

| EBITDA Margin (%) | -16.2% | 1.7% | -11.2% | -0.9% |

| Adjusted EBITDA | 73 | 190 | 167 | 293 |

| Adjusted EBITDA Margin (%) | 16.6% | 23.9% | 18.4% | 23.7% |

| PAT | (71) | 5 | (100) | (47) |

Note: Adjusted EBITDA = EBITDA plus finance cost component included in cost of sales and other operational expenses.

Consolidated Balance Sheet (₹ Crore)

| Equity & Liabilities | Sep-26 | Mar-26 |

| Equity Share Capital | 206 | 206 |

| Other Equity | 3,821 | 3,911 |

| Non-Controlling Interests | (47) | (39) |

| Total Equity | 3,980 | 4,078 |

| Borrowings | 9,179 | 9,168 |

| Trade Payables | 924 | 687 |

| Other Financial Liabilities | 767 | 846 |

| Provisions | 369 | 280 |

| Other Liabilities | 3,489 | 2,624 |

| Total Liabilities | 14,728 | 13,605 |

| Total Equity & Liabilities | 18,708 | 17,682 |

| Assets | Sep-26 | Mar-26 |

| Tangible Assets | 801 | 810 |

| Intangible Assets | 2 | 2 |

| Investments | 242 | 186 |

| Loans | 147 | 161 |

| Inventories | 15,134 | 13,660 |

| Trade Receivables | 489 | 643 |

| Cash & Bank Balance | 601 | 825 |

| Other Financial Asset | 412 | 367 |

| Non-Current Tax Asset | 71 | 87 |

| Deferred Tax Asset | 253 | 228 |

| Other Assets | 555 | 715 |

| Total Assets | 18,708 | 17,682 |

Debt Position

Gross Debt: ₹9,179 crore (Sep-26) vs. ₹9,168 crore (Mar-26)
Cash & Cash Equivalents: ₹856 crore (Sep-26) vs. ₹1,062 crore (Mar-26)
Net Debt: ₹8,323 crore (Sep-26) vs. ₹8,106 crore (Mar-26)
Net Debt to Equity Ratio: 2.1x (Sep-26) vs. 2.0x (Mar-26)

Portfolio Synopsis (100% Economic Interest, Excludes Land Reserves)

The total portfolio includes 29 projects with a developable area of 41.6 msf and a total GDV potential of ₹63,966 crore.

Ongoing Projects (19 Projects)

Total Developable Area: 23.3 msf
Sold Area: 11.3 msf
Total GDV Potential: ₹36,932 crore
Value of Sold Inventory: ₹14,266 crore
Balance Collection from Sold Inventory: ₹4,361 crore
Expected Value of Unsold Inventory: ₹22,666 crore
Expected Total Future Inflows: ₹27,027 crore

Completed Projects – RTMI

Balance Collection from Sold Inventory: ₹267 crore
Expected Value of Unsold Inventory: ₹617 crore
Expected Total Future Inflows: ₹884 crore

Forthcoming Projects (10 Projects)

Total Developable Area: 18.4 msf
Total GDV Potential: ₹27,034 crore
Expected Value of Unsold Inventory: ₹27,034 crore
Expected Total Future Inflows: ₹27,034 crore

Planned Launches for FY27

| Kalpataru Blossoms Phase II | Pune | 1.40 | 1,635 | JDA | Not Launched |

| Total | | ~4.92 | ~7,758 | | |

New Launches in H1 FY27

Launched Kalpataru Vian, Hrushikesh, Lokhandwala in Q1 FY27.
The project is a luxury development featuring bespoke 3, 4, and 4.5-bedroom residences with grand decks.
It offers over 30 curated lifestyle amenities and more than 75% green space across a private 4-acre enclave.

Sustainability & CSR Initiatives

Sustainability:

Focus on implementation of green and sustainable buildings.
47 projects with a built-up area of 37.14 msf are IGBC certified.
Founding member of the Indian Green Building Council (IGBC).
Projects include Kalpataru Paramount (IGBC Gold certified) and Kalpataru Vista (IGBC Platinum certified).

CSR Initiatives (H1 FY27):

Launched "School health project: Correction of Refractive errors" across 125 Thane Municipal Corporation schools, covering 40,000+ children.
91 mental health sessions conducted in 5 BMC schools, covering 500 students.
144 women trained in tailoring, culinary skills, and financial literacy.
41 beach clean-up drives conducted, collecting 38.4 MT of waste with 19.2 MT recycled.
2,721 citizen volunteers contributed 5,442 hours.

Awards & Accolades

Chairman Mr. Mofatraj P. Munot received the Lifetime Achievement Award at the 16th Construction Week India Awards 2026.
Mr. Parag Munot, MD, was recognized as one of India's most distinguished real estate leaders at the HURUN India Real Estate Leadership Conclave & Excellence Awards 2026.

Other Business Updates

Kalpataru is among the first real estate companies in Mumbai to adopt the Maharashtra Government's Model Sub Registration Office (SRO) for property registration.
The process aims for a 30-minute registration subject to complete documentation, same-day documentation, and a premium customer environment.

Contacts for Investor Relations

Mr. Advait Phatarfod: Investor.Relations@kalpataru.com
Ms. Jeevika Kishnani: jeevika.hemani@in.ey.com