Kalpataru Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Kalpataru Ltd filed with BSE on 05 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Kalpataru reported Q1 FY27 pre-sales of Rs 1,329 crores, up 6% year-on-year, and sales collections of Rs 1,365 crores, up 17% year-on-year. Revenue from operations was Rs 472 crores with adjusted EBITDA of Rs 95 crores at approximately 20% margin, while the company reported a net loss of Rs 29 crores for the quarter. Management also detailed new project launches, an occupation certificate receipt of ~0.79 million square feet, a new redevelopment agreement in Kandivali, and refinancing activity that reduced borrowing costs.
Numbers mentioned
Pre-sales: Rs 1,329 crores (Q1 FY27)
p. 3
“Pre-sales grew 6% year-on-year to reach Rs 1,329 crores in Q1 FY27, up from Rs 1,249 crores in Q1 FY26.”
Parag Munot, page 3 of the filed PDF · View the filing
Sales collections: Rs 1,365 crores (Q1 FY27)
p. 3
“Sales collections showed a 17% year-on-year growth to Rs 1,365 crores.”
Parag Munot, page 3 of the filed PDF · View the filing
Revenue from operations: Rs 472 crores (Q1 FY27)
p. 4
“In Q1, we reported revenue from operations of Rs. 472 crores.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Adjusted EBITDA: Rs 95 crores (Q1 FY27)
p. 4
“Our adjusted EBITDA during the quarter was Rs. 95 crores with the margin of ~20%.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Net loss: Rs 29 crores (Q1 FY27)
p. 4
“On the profitability front, we reported a loss of Rs. 29 crores for the quarter.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Gross debt: Rs 9,189 crores (as on June 30, 2026)
p. 4
“Turning to our balance sheet position, as on June 30, 2026, our gross debt stood at Rs. 9,189 crores while our cash and cash equivalents were Rs. 959 crores resulting into a net debt of Rs. 8,229 crores.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Net debt to equity ratio: 2.0x (as on June 30, 2026)
p. 4
“Consequently, our net debt to equity ratio stands at 2.0x.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Weighted average cost of borrowing: ~11% per annum (Q1 FY27)
p. 4
“Hence, our weighted average cost of borrowing now stands at ~11% per annum down by approximately 200 basis points since the listing.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Debt refinanced during quarter: approximately Rs. 1,800 crores (Q1 FY27)
p. 4
“during this quarter, we have refinanced a debt of approximately Rs. 1,800 crores which will give us an estimated annual savings of Rs. 55 crores in a finance cost.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Occupation certificate area received: ~0.79 million square feet across 668 units (Q1 FY27)
p. 3
“during the quarter we received occupation certificate for ~0.79 million square feet across 668 units, continuing a strong track record of project execution and handovers.”
Parag Munot, page 3 of the filed PDF · View the filing
Sale of Kalpataru Infinia, Pune: ~Rs. 119 crores (Q1 FY27)
p. 3
“we have monetized our commercial office property Kalpataru Infinia located at Shivajinagar Nagar in Pune for a consideration of ~Rs. 119 crores.”
Parag Munot, page 3 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Pre-sales — approximately Rs. 6,500 crores · FY27
stated firmly by Chandrashekhar Joglekar
p. 4
“Looking ahead to FY27, we target closing the year with pre-sales of approximately Rs. 6,500 crores which would be a growth of ~23% over FY26.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Net debt levels — around FY26 levels · end of FY27
stated conditionally by Chandrashekhar Joglekar
p. 4
“Keeping in view the capital allocation of upcoming launches and the business development spend, we expect the net debt levels by end for FY27 and to remain around the same levels of FY26.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Net debt to equity ratio — end of FY27
stated conditionally by Chandrashekhar Joglekar
p. 4
“However, the net debt/ equity ratio is expected to improve from current levels of ~2.0x due to recognition of profits at the end of FY27.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
Project completion — 5.5 million square feet · FY27
stated firmly by Parag Munot
p. 3
“We are well on track to deliver on a target of 5.5 million square feet of completion this year.”
Parag Munot, page 3 of the filed PDF · View the filing
Ongoing project completions — around 15 million square feet · FY27, FY28 and FY29
stated firmly by Chandrashekhar Joglekar
p. 4
“In closing, I wish to state that company would be completing around 15 million square feet of ongoing projects in FY27, FY28 and FY29 gradually.”
Chandrashekhar Joglekar, page 4 of the filed PDF · View the filing
New launches pipeline — approximately 5 million square feet worth approximately Rs. 7,800 crores · this year
stated firmly by Parag Munot
p. 3
“We have a strong pipeline of launches spread over approximately 5 million square feet and worth approximately Rs. 7,800 crores this year and we hope to carry this momentum into other project phases when we launch them.”
Parag Munot, page 3 of the filed PDF · View the filing
Sales from new launches — about 25% · FY27
stated firmly by Parag Munot
p. 5
“Expectation for the full year from new launches will be about 25%.”
Parag Munot, page 5 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed the divergence to project mix.
Answered by Management
Asked by Shivam Gupta: Why did pre-sales grow only 6% despite a 48% increase in area sold - was it project mix or discounting?
p. 5
“It is right. It is due to project mix.”
Management, page 5 of the filed PDF · View the filing
Most collections came from units sold earlier, with only marginal contribution from the current quarter's bookings.
Answered by Chandrashekhar Joglekar
Asked by Shivam Gupta: How much of the Rs 1,365 crore collections came from older sold receivables versus current quarter bookings?
p. 5
“The booking made during the quarter was marginal only. Most of the collection was due to the units sold earlier.”
Chandrashekhar Joglekar, page 5 of the filed PDF · View the filing
Management said debt could fluctuate quarter to quarter due to spend on ongoing or new projects, but the overall trend is downward.
Answered by Chandrashekhar Joglekar
Asked by Shivam Gupta: Why did debt increase from March to June, and where was cash deployed?
p. 5
“So, on the debt, the company is very clear. Directionally, it is going to be on the downside, year on year.”
Chandrashekhar Joglekar, page 5 of the filed PDF · View the filing
Management said 35% of Q1 sales came from new launches, and full-year new-launch contribution is expected at about 25%.
Answered by Parag Munot
Asked by Shivam Gupta: How much of the expected Rs 1,800-2,000 crore in new-launch sales for FY27 has been achieved in Q1, and does the full-year expectation remain unchanged?
p. 5
“In this quarter, 35% was from new sales and as we have said, for the entire year, about 25% will be from new launches.”
Parag Munot, page 5 of the filed PDF · View the filing
Management said the launches are spread across the next three quarters, naming specific projects for each quarter.
Answered by Parag Munot
Asked by Saurabh Gilda: What is the timeline for the launches highlighted in the presentation - are they spread out or back-ended?
p. 6
“They are well-spread across the three quarters. Blossom will happen in the next quarter. Estela 1 Tower will happen in this quarter. Hari Neketan will happen this quarter. And Ardene and Suman Nagar will go to next quarter.”
Parag Munot, page 6 of the filed PDF · View the filing
Management described a positive trend in walk-ins and conversions, with pricing stable and strong.
Answered by Parag Munot
Asked by Saurabh Gilda: How is pricing trending across projects and markets post-war?
p. 6
“We are seeing a positive trend towards walk-ins and conversion and also the pricing is looking stable and strong.”
Parag Munot, page 6 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.