Kalpataru Limited (KALPATARU) Q4 25/26 earnings summary

Executive summary

• Achieved record operational and financial performance in FY26, with highest-ever quarterly pre-sales of INR 1,833 crore in Q4 and full-year pre-sales of INR 5,280 crore, up 17% year-over-year.

• Expanded project pipeline with 31 projects totaling 43 million sq. ft. saleable area and new business development agreements, enhancing future revenue visibility.

• Recognized for sustainability initiatives and received multiple industry awards.

• Audited standalone and consolidated financial results for FY26 were approved, with unmodified audit opinions issued by statutory auditors.

• Completed a significant IPO, with proceeds allocated to debt repayment, general corporate purposes, and issue expenses.

Financial highlights

• Consolidated revenue for FY26 rose to INR 3,436 crore, up 54% year-over-year; Q4 revenue from operations was INR 1,694 crore, nearly triple the previous year’s Q4.

• Adjusted EBITDA for FY26 was INR 1,022 crore with a margin of 29.8%.

• PAT for FY26 reached INR 80 crore, up from INR 25 crore in FY25.

• Pre-sales grew 17% YoY to INR 5,280 crore; collections up 34% YoY to INR 4,960 crore.

• Net debt as of March 2026 was INR 8,106 crore; net debt-to-equity ratio improved to 2.0x.

Outlook and guidance

• FY27 pipeline includes 4.92–5 million sq. ft. of new launches with GDV of INR 7,770–7,800 crore.

• Targeting delivery of 5.5 million sq. ft. in FY27.

• Guidance for FY27 will be provided later, with management expecting continued growth.

• The Composite Scheme of Arrangement is expected to enhance operational synergy and simplify the group structure upon regulatory approval.