Kalpataru Reports 43% Growth in Pre-Sales for H1 FY26, Maintains Strong Outlook
Kalpataru, a Mumbai-based real estate developer, reported robust financial results for H1 FY26. Pre-sales reached Rs. 2,577.00 crores, up 43% year-on-year, while collections grew 37% to Rs. 2,308.00 crores. Q2 FY26 pre-sales were Rs. 1,329.00 crores, a 19% increase. Revenue from operations stood at Rs. 1,237.00 crores, with adjusted EBITDA at Rs. 293.00 crores. Net debt improved to Rs. 8,025.00 crores, reducing the net debt-to-equity ratio to 2.0x. The company launched two major projects in Q2 and maintains a strong growth outlook for FY26, with pre-sales guidance of Rs. 7,000.00 crores and collections guidance of Rs. 5,700.00 crores.
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Kalpataru , a prominent Mumbai-based real estate developer, has reported robust financial performance for the first half of fiscal year 2026 (H1 FY26), showcasing strong growth in pre-sales and collections. The company, which recently became listed, held its first earnings call to discuss its financial and operational performance.
Strong Pre-Sales and Collections Growth
Kalpataru achieved pre-sales of Rs. 2,577.00 crores in H1 FY26, marking a significant 43% year-on-year growth. Collections reached Rs. 2,308.00 crores, reflecting a 37% increase compared to the same period last year. The company's quarterly pre-sales for Q2 FY26 stood at Rs. 1,329.00 crores, up 19% year-on-year.
Financial Highlights
| Metric | H1 FY26 Value |
|---|---|
| Revenue from Operations | Rs. 1,237.00 crores |
| Adjusted EBITDA | Rs. 293.00 crores |
| Net Debt | Rs. 8,025.00 crores |
| Net Debt-to-Equity Ratio | 2.0x |
The company's net debt improved from Rs. 9,310.00 crores at the end of FY25 to Rs. 8,025.00 crores, reducing the net debt-to-equity ratio from 3.8x to 2.0x.
Project Launches and Performance
During Q2 FY26, Kalpataru launched two significant projects:
- Kalpataru Estella at Park City Thane: Spread across 12 acres, featuring eight towers with a six-acre podium and 74% open space.
- A new tower at Srishti Namaah in Mira Road.
The company's flagship luxury project, Kalpataru One at Worli, generated Rs. 720.00 crores in sales during H1 FY26.
Future Outlook
Kalpataru maintains a strong growth outlook for FY26:
- Pre-sales guidance of Rs. 7,000.00 crores (approximately 55% year-on-year growth)
- Collections guidance of Rs. 5,700.00 crores (about 56% year-on-year growth)
- Expected net debt reduction to around Rs. 7,300.00 crores by year-end
Management Commentary
Parag Munot, Managing Director of Kalpataru, expressed confidence in the company's performance and future prospects. He highlighted the strong demand for premium lifestyle housing in their micro-markets and the company's focus on design excellence, customer centricity, and quality construction.
Chandrashekhar Joglekar, Director - Finance and CFO, emphasized the company's efforts to optimize finance costs through refinancing options, which could potentially result in annual interest savings of Rs. 50.00-75.00 crores.
Conclusion
Kalpataru's strong H1 FY26 performance, coupled with its robust project pipeline and strategic focus on premium markets, positions the company well for continued growth. The management's confidence in meeting full-year targets and improving the company's financial profile suggests a positive outlook for the real estate developer in the coming quarters.
