Kalpataru Reports Strong Q2 & H1 FY26 Performance, Pre-Sales Up 43% YoY, Net Debt Reduced
Kalpataru announced strong Q2 and H1 FY26 results with pre-sales growing 43% YoY to ₹2,577 crores and collections up 37%. Net debt reduced significantly. The company provided optimistic FY26 guidance and project updates.
The detailed financial results showcasing strong growth, significant debt reduction, and positive future guidance are material to investors. The updates on new project launches and a healthy development pipeline indicate strong operational momentum and future revenue visibility. This is the first earnings call as a listed company, adding to its significance.
The announcement indicates strong financial performance with significant year-on-year growth in pre-sales and collections, improved profitability in Q2, and a noticeable reduction in net debt and net debt to equity ratio. The company also provided positive guidance for FY26 sales and further debt reduction, along with successful project launches and a robust future pipeline.
* Kalpataru Limited released the transcript of its Q2 and H1 FY26 earnings conference call, held on November 11, 2025, discussing its unaudited financial results (consolidated and standalone) for the quarter and half year ended September 30, 2025. * The company achieved pre-sales of ₹1,329 crores in Q2 FY26, a 19% year-on-year growth, and collections of ₹1,162 crores, a 37% increase. * For H1 FY26, pre-sales stood at ₹2,577 crores, up 43% year-on-year, with collections reaching ₹2,308 crores, reflecting a 37% growth. * Revenue from operations for Q2 FY26 was ₹794 crores and for H1 FY26 was ₹1,237 crores. Adjusted EBITDA was ₹190 crores for Q2 and ₹293 crores for H1. * The company reported a profit of ₹5 crores in Q2, improving from a loss of ₹52 crores in Q1. * Gross debt as of September 30, 2025, was ₹8,928 crores, with cash and cash equivalents at ₹903 crores, resulting in a net debt of ₹8,025 crores. This is an improvement from ₹9,310 crores at FY25 year-end. * The net debt to equity ratio improved to 2.0x from 3.8x as of March 2025. * Management expects cash EBITDA margins to be 35% and upward going forward. The average cost of debt is expected to reduce by at least 0.5% by FY26 year-end due to refinancing efforts. * Kalpataru maintains a strong growth outlook for FY26, guiding for pre-sales of around ₹7,000 crores (55% Y-o-Y increase) and collections of ₹5,700 crores (56% Y-o-Y growth). * Net debt is projected to reduce to approximately ₹7,300 crores by the end of FY26, a 22% reduction from FY25 levels. Net debt to equity is targeted at around 1.5x by FY27 and 1x by FY28. * Key project updates include the launch of Kalpataru Estella in Kalpataru Park City, Thane, and a new tower at Srishti Namaah in Mira Road. Kalpataru One at Worli surpassed its H1 sales target, achieving ₹720 crores (₹850 crores including October). * Upcoming launches in FY26 include a new project in Lokhandwala, Andheri, and new phases/towers in existing projects like Eternia (Thane) and Aria (Karjat), totaling approximately 3.2 million square feet of saleable area. * The company has a strong pipeline of 31 ongoing, forthcoming, and planned projects with a potential development area of 44 million square feet, for which land payments are already completed.
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Kalpataru Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Kalpataru Limited. Read the original for the full detail.