Kalpataru FY26 pre-sales up 17% to Rs 5,280 cr; Q4 net profit at Rs 194 cr

Realty developer Kalpataru Ltd has reported its highest-ever operational performance during the financial year 2025-26, with pre-sales rising 17% on-year to Rs 5,280 crore, driven by robust collections and improved sale realisations across projects in the Mumbai Metropolitan Region. For the fourth quarter, pre-sales rose 6% to Rs 1,833 crore.

The listed developer’s collections for the financial year rose 34% year-on-year to Rs 4,960 crore, while quarterly collections in the January-March period jumped 41% to Rs 1,487 crore.

The company’s average sale realisation during the year grew 20% to Rs 16,719 per sq ft and during the fourth quarter, average sale realisation rose 6% on-year to Rs 15,969 per sq ft.

“During both the quarter and the full year, we delivered our highest-ever pre-sales and collections, reflecting excellent execution scale-up, sustained demand across key micro-markets, and a significant improvement in cash flows. Strong project completions, disciplined capital allocation, and focused debt reduction initiatives further reinforced the balance sheet, making FY26 our most operationally robust year to date,” said Parag Munot, MD, Kalpataru.

Area sold during the year stood at 3.16 million sq ft against 3.26 million sq ft in the previous financial year. In the March quarter, area sold stood at 1.15 million sq ft, largely flat compared with 1.14 million sq ft in the year-ago period.

On the financial front, consolidated revenue from operations during the fourth quarter surged 184% year-on-year to Rs 1,694 crore, while adjusted operating profit rose 208% to Rs 612 crore. Adjusted operating margin for the quarter stood at 36.1%.

Net profit for the March quarter rose to Rs 194 crore, while the company reported a profit after tax of Rs 80 crore for the financial year. Revenue for the year rose 55% to Rs 3,436 crore, while adjusted operating profit grew 50% to Rs 1,022 crore.

According to the company, revenue recognition during the year was impacted by its accounting methodology under Ind-AS 115, where projects launched after April 2022 follow the Project Completion Method (PCM). Under this method, revenue is recognised only after receipt of occupation certificates, while marketing and corporate overhead expenses are booked in the quarter they are incurred.

The company received occupation certificates during the fourth quarter for six towers of Kalpataru Vivant, one phase of Kalpataru Aria and one tower of Kalpataru Elitus, covering a total area of around 1.37 million sq ft, resulting in corresponding revenue and profitability recognition during the quarter.

Net debt as on March end stood at Rs 8,106 crore, with the net debt-to-equity ratio improving to 2.0x from 3.8x a year earlier.