Kalpataru Limited has signed a cluster redevelopment project in Kandivali East, Mumbai, with an estimated Gross Development Value (GDV) of approximately ₹1,250 crore. The project, named Ashokgram Cluster, comprises five adjacent societies in Ashok Nagar and spans approximately 2.8 acres of prime land.

Project Overview

The Ashokgram Cluster project features a free sale potential of approximately 0.37 million square feet (msf) of carpet area. It is envisaged as a residential development with high-street retail, strategically positioned within a thriving micro-market. The development aims to offer residents excellent connectivity to major road networks and metro lines, bolstered by proximity to social infrastructure such as educational institutions and healthcare centers.

Strategic Significance

This signing reinforces Kalpataru's leadership in the Kandivali East locality, where the company has already delivered six landmark developments including Kalpataru Jharokha, Kalpataru Vatika, and Kalpataru Gardens. The Managing Director, Mr. Parag Munot, highlighted that the project is envisioned as a future-ready neighbourhood blending local heritage with modern amenities and sustainable urban living. This announcement follows a significant ₹1,400 crore redevelopment project in Andheri East secured earlier in March, demonstrating the company's active expansion across Mumbai's key micro-markets.

Kalpataru Limited's Board of Directors approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company reported its highest-ever operational performance in FY26, with record pre-sales and collections. The statutory audit was conducted by KKC & Associates LLP, which issued an unmodified opinion on the results. Pursuant to Regulation 47 of the SEBI Listing Regulations, the company published an extract of its audited standalone and consolidated financial results in the Economic Times (English) and Loksatta (Marathi) on May 13, 2026. The publication also included a QR Code and a webpage link to access the full financial results.

Earnings Conference Call

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Kalpataru concluded its Earnings Conference Call with Analysts and Investors on May 13, 2026, at 10:40 a.m. (IST). The call covered the audited standalone and consolidated financial results and developments for the quarter and financial year ended March 31, 2026. The Financial Results and the Investor Presentation, which were sent to the Stock Exchanges vide intimations dated May 12, 2026, and uploaded on the company's website at https://www.kalpataru.com/investor-corner , were referred to during the call. The company confirmed that no unpublished price sensitive information was shared during the call. Pursuant to Regulation 30 and 46 of SEBI Listing Regulations, the audio recording of the Earnings Conference Call is accessible on the company's website at https://www.kalpataru.com/uploads/1778663361\_6a043fc1ee7d9.mp3 .

Management Outlook for FY27

Management did not provide formal guidance for FY27, citing prevailing global and local economic conditions. However, the company expressed confidence in a continued "growth story" going forward. Management noted that previous Q4 FY26 guidance was achieved, particularly in revenue and profitability from handover projects. New launches for FY27 are planned at 5 million square feet valued at INR 7,800 crores, spread throughout the year with approximately three launches scheduled in the first half. Key highlights from the management commentary are summarised below:

Management also confirmed cash flow visibility for the next year, underpinned by the 5.5 million square feet scheduled for completion in FY27. New launches worth INR 7,000 to INR 8,000 crores are planned to be added to the pipeline, bringing total inventory to approximately INR 30,000 crores. Anticipated margins range from 20% to 25% at the revenue reporting level and 25% to 30% in cash flows, as most acquisition payments have already been made.

Operational Highlights

Kalpataru delivered record pre-sales of ₹1,833 crore in Q4 FY26, up 6% YoY, while collections surged 41% YoY to ₹1,487 crore. For the full year FY26, pre-sales reached an all-time high of ₹5,280 crore, up 17% YoY, with collections at ₹4,960 crore, up 34% YoY. The average sale realization for FY26 stood at ₹16,719 per sq.ft., a 20% increase from the previous year.

Q4 FY26 Operational Performance

FY26 Full Year Operational Performance

Consolidated Financial Performance

On a consolidated basis, revenue from operations for Q4 FY26 stood at ₹1,694 crore, up 184% YoY, while for the full year FY26, it was ₹3,436 crore, up 55% YoY. The company follows a Project Completion Method (PCM) for revenue recognition for projects started post April 2022. In Q4 FY26, the company received Occupation Certificates (OCs) for six towers of Kalpataru Vivant, one phase of Kalpataru Aria, and one tower of Kalpataru Elitus, totaling approximately 1.37 msf. Adjusted EBITDA for Q4 FY26 was ₹612 crore, up 208% YoY, with a margin of 36.1%. For FY26, Adjusted EBITDA stood at ₹1,022 crore, up 50% YoY, with a margin of 29.8%. Profit After Tax (PAT) was ₹194 crore in Q4 FY26 and ₹80 crore for FY26.

Standalone and Consolidated Financial Results Extract

The newspaper publication included an extract of the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The key figures are presented below (Rs. in Lakhs):

Balance Sheet and Net Debt

Net Debt as on March 31, 2026, stood at ₹8,106 crore, with the Net Debt/Equity Ratio improving to 2.0x from 3.8x as on March 31, 2025. Total assets on a consolidated basis were ₹17,68,241 lakhs, while total equity was ₹4,07,793 lakhs. The Board also approved a Composite Scheme of Arrangement to simplify the group structure, involving the demerger of the Korum Mall business and the amalgamation of certain subsidiaries with Kalpataru Limited, subject to necessary approvals.