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 announced the withdrawal of its previously approved demerger scheme for Project Yoganand, located in Borivali, Mumbai. This decision, approved by the company's Board of Directors, marks a significant shift in the company's strategic approach to project management and financing.

Background of the Demerger Scheme

The original demerger scheme, approved on June 27, 2024, was designed to transfer Project Yoganand from Kalpataru Limited to its wholly-owned subsidiary, 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.

Reasons for Withdrawal

The company cited two main reasons for withdrawing the demerger scheme:

1. Improved Cash Flow: Following its Initial Public Offering (IPO), Kalpataru Limited has reported adequate cash flows, reducing the need for external funding for the project.

2. Change in Lender Requirements: The lenders for Project Yoganand are no longer insisting on the demerger of the project into a separate entity.

Financial Impact

Kalpataru Limited has stated that the withdrawal of the demerger scheme will have no financial impact on either Kalpataru Limited or Kalpataru Residency Private Limited. This suggests that the company's financial position remains stable despite this strategic shift.

Implications for Investors and Stakeholders

The withdrawal of the demerger scheme indicates Kalpataru Limited's improved financial health post-IPO. It also suggests that the company now has more flexibility in managing its projects and finances internally, which could be seen as a positive sign by investors.

Corporate Governance and Transparency

The company's decision to promptly inform the stock exchanges about this development, as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates its commitment to transparency and good corporate governance practices.

Looking Ahead

While the withdrawal of the demerger scheme represents a change in strategy, it appears to be a response to the company's strengthened financial position. Investors and market analysts will likely be watching closely to see how this decision affects Kalpataru Limited's project management and financial strategies in the future.

Kalpataru Limited continues to be a significant player in Mumbai's real estate market, and this decision may be seen as part of its ongoing efforts to optimize its corporate structure and project management approaches in response to changing market conditions and its own financial strength.