Kalpataru Limited , a leading real estate developer in Mumbai Metropolitan Region (MMR), has announced its financial results for the second quarter of fiscal year 2026, showcasing revenue growth despite a decline in net profit.

Financial Performance

The company reported a consolidated net profit of Rs 5.00 crore for Q2 FY26, compared to Rs 28.00 crore in the same period last year. Despite the decrease in profit, Kalpataru Limited saw a significant increase in revenue from operations, which rose to Rs 794.00 crore from Rs 506.00 crore year-on-year, marking a 57% growth.

Here's a breakdown of the key financial metrics for Q2 FY26:

Operational Highlights

Kalpataru Limited demonstrated strong operational performance in Q2 FY26:

• Pre-sales value increased by 19% year-on-year to Rs 1,329.00 crore.
• Collections grew by 37% to Rs 1,162.00 crore compared to the same quarter last year.
• Average sale realization improved significantly, rising by 27% to Rs 16,977.00 per square foot.
• For H1FY26, pre-sales reached Rs 2,577.00 crore, marking a 43% YoY growth.
• Collections for H1FY26 stood at Rs 2,308.00 crore, representing a 37% YoY growth.

Strategic Developments

The company launched significant projects during the quarter:

• Introduced Kalpataru Estella, the largest phase at Kalpataru Parkcity to date.
• The initial launch of Towers A and B covers 0.93 million square feet of saleable area.
• Received occupation certificates for 0.96 msf area in Q2FY26.

Financial Position

Kalpataru Limited has made strides in strengthening its balance sheet:

• Net debt reduced to Rs 8,025.00 crore as of September 30, 2025.
• The net debt-to-equity ratio improved to 2.0x from 3.8x as of March 31, 2025.

Management Commentary

Mr. Parag Munot, Managing Director of Kalpataru Limited, commented on the results: "We are pleased to share another quarter of solid performance, a period that reflects steady operational progress, strong sales momentum, and continued financial strengthening. Our pre-sales for Q2 FY26 grew by 19% year-on-year to ₹1,329 crore, along with a 37% year-on-year increase in collections, driven by improved realizations and strong demand across our projects in key micro-markets."

He added, "Looking ahead, we remain focused on deepening our presence in core markets such as MMR and Pune, where we continue to see strong housing demand driven by structural and demographic trends. We have a healthy launch pipeline for the remainder of FY26, backed by a robust product mix and a strong brand presence that positions us well to capture growth opportunities."

Future Outlook

Kalpataru Limited appears well-positioned for future growth, with a focus on:

1. Expanding presence in core markets of MMR and Pune.
2. Capitalizing on strong housing demand driven by structural and demographic trends.
3. Executing a healthy launch pipeline for the remainder of FY26.
4. Leveraging its robust product mix and strong brand presence to capture growth opportunities.

The company maintains its guidance of Rs 7,000.00 crore pre-sales and Rs 5,700.00 crore collections for FY26, indicating confidence in its growth trajectory.

The company's strategic focus on premium offerings and key micro-markets, coupled with its improved financial metrics, suggests a positive outlook for the coming quarters, despite the challenges in the real estate sector.

Kalpataru Limited , a prominent real estate developer in Mumbai, has withdrawn its scheme of arrangement for demerging Project Yoganand (Borivali, Mumbai) to its wholly owned subsidiary Kalpataru Residency Private Limited. The National Company Law Tribunal (NCLT) Mumbai Bench approved the withdrawal, reversing the company's earlier demerger plan that was approved by the Board.

Background of the Demerger Scheme

The original demerger scheme was designed to transfer Project Yoganand from Kalpataru Limited to Kalpataru Residency Private Limited. The primary objective was to create a special purpose vehicle (SPV) to facilitate funding and refinancing from prospective investors and lenders.

Withdrawal Decision

The withdrawal of the demerger scheme marks a shift in the company's corporate restructuring strategy for the Mumbai-based project. This decision affects the previously planned corporate structure and project management approach for Project Yoganand.

Implications for the Company

The withdrawal of the demerger scheme may indicate a change in Kalpataru Limited's strategic approach to project management and financing. It suggests that the company may have reassessed its needs for managing the project within its current corporate structure.

Corporate Governance and Transparency

Kalpataru Limited's disclosure of this development to the stock exchanges, as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates its commitment to transparency and corporate governance practices.

Looking Ahead

Investors and market analysts may be watching to see how this decision affects Kalpataru Limited's project management and financial strategies. The withdrawal of the demerger scheme could lead to a reevaluation of the company's approach to project financing and corporate structuring for its real estate developments.

Kalpataru Limited continues to be a significant player in Mumbai's real estate market, and this decision may be part of its efforts to optimize its corporate structure and project management approaches in response to market conditions and regulatory requirements.