Kalpataru Limited — PPTs, 06-02-2026: Investor Presentation

Kalpataru Ltd. reported mixed Q3 FY26 results. Quarterly pre-sales declined 14% YoY to INR 870 Cr, but nine-month pre-sales grew 23% YoY to INR 3,447 Cr. Sales collections showed strong momentum, up 17% YoY to INR 1,101 Cr for Q3 and 30% YoY to INR 3,409 Cr for the nine-month period. The company recorded a net loss of INR 67 Cr in Q3 and INR 114 Cr for the nine months, partly due to its Project Completion Method (PCM) for revenue recognition.

A strategic highlight was the equity infusion, which significantly strengthened the balance sheet, reducing Net Debt to Equity to 2.1x as of Dec 2025 from 3.8x in March 2025. Net debt decreased by ~INR 1,040 Cr since March. New project launches included two towers in Thane totaling ~0.48 msf, and Occupation Certificates were received for ~1.39 msf in Q3.

Management updated its FY26 outlook, revising pre-sales guidance downwards by 20-22% to ~INR 7,000 Cr and collections by 10% to ~INR 5,700 Cr, primarily due to delays in project regulatory approvals. They anticipate net debt around ~INR 7,300 Cr.