Kalpataru reports strong Q2 & H1 FY26 performance with 19% YoY pre-sales growth and significant debt reduction
Kalpataru reported strong Q2 & H1 FY26 results with pre-sales up 19% YoY to ₹1,329 crore and collections up 37% YoY. Net debt significantly reduced to ₹8,025 crore, improving the D/E ratio to 2.0x.
The announcement has a high impact due to the strong operational performance (pre-sales, collections, realizations), significant improvement in the company's financial health through substantial debt reduction, and a positive outlook from management with future guidance. These factors are critical for investor confidence and stock valuation.
The positive sentiment is driven by strong growth in pre-sales and collections, significant reduction in net debt and improvement in the net debt-to-equity ratio, and optimistic management commentary regarding market demand and future launch pipeline. Despite a low PAT for Q2 and negative PAT for H1, the operational metrics and balance sheet strengthening are key positive indicators.
* Kalpataru Limited announced strong financial results for the quarter and half year ended September 30, 2025. * Q2 FY26 Highlights: * Pre-Sales value stood at ₹1,329 crore, a 19% year-on-year (YoY) increase. * Collections reached ₹1,162 crore, up 37% YoY. * Area sold was 0.78 million sq.ft. (msf), a 6% YoY decrease. * Average Sales Realization increased by 27% YoY to ₹16,977 per sq.ft. * H1 FY26 Highlights: * Pre-Sales value was ₹2,577 crore, a 43% YoY increase. * Collections stood at ₹2,308 crore, up 37% YoY. * Area sold was 1.34 msf, a 7% YoY decrease. * Average Sales Realization increased by 54% YoY to ₹19,260 per sq.ft. * The company launched 2 towers in a new project (Estella at Kalpataru Parkcity, Thane) and 1 new phase (Srishti Namaah, Mira Road) in Q2 FY26, totaling approximately 1.25 msf saleable area. * Net Debt as of September 30, 2025, significantly reduced to ₹8,025 crore, a reduction of ~₹1,285 crore since March 2025. * The Net Debt-to-Equity ratio improved to 2.0x from 3.8x as of March 31, 2025. * Consolidated Financial Performance (as per IND-AS 115): * Q2 FY26 Revenue from Operations stood at ₹794 crore (up 57% YoY), Adjusted EBITDA at ₹190 crore (up 9%) with a margin of 23.9%, and Profit After Tax (PAT) at ₹5 crore. * H1 FY26 Revenue from Operations stood at ₹1,237 crore (up 19% YoY), Adjusted EBITDA at ₹293 crore (down 6%) with a margin of 23.1%, and PAT at ₹(47) crore. * The company follows a Project Completion Method (PCM) for revenue recognition on projects started post-April 2022, where revenue is recognized only upon obtaining the Occupation Certificate (OC), while marketing and corporate overheads are expensed as incurred. * Mr. Parag Munot, Managing Director, stated that the quarter reflected steady operational progress, strong sales momentum, improved realizations, and continued financial strengthening. He highlighted the focus on core markets like MMR and Pune and a healthy launch pipeline for the remainder of FY26. * FY26 Guidance: * Pre-Sales Value: ~₹7,000 crore (37% achieved in H1 FY26). * Collections: ~₹5,700 crore (40% achieved in H1 FY26). * Net Debt: ~₹7,300 crore. * The company received the DNA Paris Design Awards 2025 for NaMo Grand Central Park and multiple Realty+ Excellence Awards.
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Kalpataru Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. 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.