KALPATARU
Kalpataru share price & financials
- Price
- ₹272.9
- Market cap
- ₹5.9k Cr
- Sector
- Realty
- Calls analysed
- 4
Kalpataru Limited Q1 FY27
What went well
- Pre-sales grew 6% year-on-year to ₹1,329 crores in Q1 FY27, up from ₹1,249 crores in Q1 FY26.
- Sales collections showed a 17% year-on-year growth to ₹1,365 crores.
- Sales momentum at Kalpataru Parkcity, Thane surged ~350% year-on-year compared to Q1 FY26.
What to watch
- Reported a loss of ₹29 crores for the quarter.
- Net debt to equity ratio stands at 2.0x as of June 30, 2026.
What Kalpataru Limited does
Kalpataru Limited develops residential, commercial and mixed-use real estate, concentrated in the Mumbai Metropolitan Region (MMR) with a further presence in Pune and Hyderabad. It earns primarily by selling residential units (pre-sales followed by collections as construction progresses and Occupation Certificates are received), supplemented by rental income from an annuity portfolio of office and retail assets. Projects are executed through a mix of self-owned land, joint development/joint venture (JD/JV) arrangements and society redevelopment agreements. The company is part of the wider Kalpataru Group, which also runs separately listed/unlisted businesses in power transmission & distribution, civil infrastructure EPC, warehousing and facility management.
Segments
- Residential Development
- Annuity/Rental Portfolio
- Total projects (completed + ongoing + forthcoming)
- 114 (83 completed, 20 ongoing, 11 forthcoming)
- Ongoing + forthcoming developable area
- ~43.3 million sq ft
- Completed developable area to date
- ~23.3 million sq ft
- Geographic footprint
- MMR (Mumbai, Thane, Rest of MMR), Pune and Hyderabad
- Ongoing portfolio residential mix
- ~95% residential by developable area
- Ongoing portfolio ownership mix
- ~74% owned, remainder via JD/JV and redevelopment
Guidance record · Q1 FY27
what the last two calls moved 17 tracked 4 delivered 4 missed 9 open- Net Debt delivered, diluted said Q2 FY26 Promised: ₹7,300 crores Q1 FY27: Promise concluded in FY26. No new update.
- Pre-sales missed said Q2 FY26 Promised: ₹7,000 crores Q1 FY27: Promise concluded in FY26. No new update.
- Net Debt to Equity at risk said Q2 FY26 Promised: 1.5x Q1 FY27: Ratio remains at 2.0x. Management guides for improvement by end of FY27, reiterating the diluted target of 'below 2.0x' rather than the original 1.5x.
All 17 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 6.5%, net profit up 44.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 506 | 588 | 597 | 443 | 794 +57% | 505 −14% | 1,694 +184% | 472 +7% |
| EBITDA | 35 | 38 | -20 | -28 | 6 −83% | -75 −297% | 216 +1180% | -46 −64% |
| Net profit | 28 | -23 | 20 | -52 | 5 −82% | -67 −191% | 194 +870% | -29 +44% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −35.3% 1Y
1Y: ₹411.25 on 10 Sept 2025 → ₹266.25. High ₹411.25 (10 Sept 2025), low ₹258.9 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.2%
- 4 Aug
- Q4 FY26
- −8.7%
- 13 May
- Q3 FY26
- −0.9%
- 9 Feb
- Q2 FY26
- −0.4%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 54.7% a year over 1 year, FY25 to FY26. Operating margin widened to 3.5%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹2.2k Cr | ₹3.4k Cr |
| Operating profit | ₹56 Cr | ₹119 Cr |
| Operating margin | 2.5% | 3.5% |
| Interest | ₹88 Cr | ₹70 Cr |
| Depreciation | ₹38 Cr | ₹47 Cr |
| Net profit | ₹25 Cr | ₹80 Cr |
| Net margin | 1.1% | 2.3% |
| Cash from operations | ₹488 Cr | ₹848 Cr |
| Free cash flow | ₹449 Cr | ₹742 Cr |
| ROCE | 1.0% | 1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹140 Cr | ₹140 Cr | ₹140 Cr | ₹140 Cr | ₹206 Cr | ₹206 Cr |
| Reserves | ₹1.2k Cr | ₹1.3k Cr | ₹1.1k Cr | ₹880 Cr | ₹3.8k Cr | ₹3.9k Cr |
| Borrowings | ₹7.4k Cr | ₹10.4k Cr | ₹9.7k Cr | ₹10.7k Cr | ₹8.9k Cr | ₹9.2k Cr |
| Other liabilities | ₹1.2k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹2.2k Cr | ₹4.5k Cr | ₹4.4k Cr |
| Total liabilities | ₹9.8k Cr | ₹13.4k Cr | ₹12.5k Cr | ₹13.9k Cr | ₹17.4k Cr | ₹17.7k Cr |
| Fixed assets | ₹725 Cr | ₹699 Cr | ₹682 Cr | ₹639 Cr | ₹763 Cr | ₹702 Cr |
| Capital work in progress | ₹110 Cr | ₹121 Cr | ₹131 Cr | ₹146 Cr | ₹104 Cr | ₹109 Cr |
| Investments | ₹735 Cr | ₹77 Cr | ₹86 Cr | ₹93 Cr | ₹119 Cr | ₹187 Cr |
| Other assets | ₹8.3k Cr | ₹12.5k Cr | ₹11.6k Cr | ₹13.0k Cr | ₹16.4k Cr | ₹16.7k Cr |
| Total assets | ₹9.8k Cr | ₹13.4k Cr | ₹12.5k Cr | ₹13.9k Cr | ₹17.4k Cr | ₹17.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +1.97 pp while FIIs trimmed −1.79 pp. The shareholder count shrank 49% to 53,683.
- Promoters
- 81.3%
- FIIs
- 5.9%
- DIIs
- 8.2%
- Public
- 4.6%
Since Jun 2025
- DIIs +1.97 pp
- FIIs −1.79 pp
- Public −0.18 pp
How it drifted, 5 quarters
Over this window DIIs went from 6.3% to 8.2% — +2.0 pp.
Ownership split by quarter, oldest first. Jun '25: Promoters 81.3%, FIIs 7.7%, DIIs 6.3%, Public 4.7%.Sep '25: Promoters 81.3%, FIIs 7.7%, DIIs 6.8%, Public 4.2%.Dec '25: Promoters 81.3%, FIIs 8.0%, DIIs 6.5%, Public 4.2%.Mar '26: Promoters 81.3%, FIIs 8.1%, DIIs 6.3%, Public 4.3%.Jun '26: Promoters 81.3%, FIIs 5.9%, DIIs 8.2%, Public 4.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Gss India Opportunities AIF - Scheme I AIF newly disclosed 2.35% held
- Government Of Singapore - E Sovereign +0.11 pp 4.55% held
- Mofatraj Pukhraj Munot HUF (Mofatraj Pukhraj Munot as a Karta of Mofatraj Pukhraj Munot HUF) newly disclosed 0.01% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kalpataru Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mofatraj Pukhraj Munot | 17.63% | unchanged |
| Parag Mofatraj Munot | 9.86% | unchanged |
| Kalpataru Constructions Private Limited | 8.97% | unchanged |
| Appropriate Developers Private Limited | 6.77% | unchanged |
| Flex-O-Poly Private Limited | 6.65% | unchanged |
| Mrigashish Investment And Trading Company Private Limited | 6.65% | unchanged |
| Shouri Investment and Trading Company Private Limited | 6.65% | unchanged |
| Mrigashish Constructions Private Limited | 6.51% | unchanged |
| Government Of Singapore - E Sovereign | 4.55% | +0.11 pp |
| SBI Multicap Fund Mutual fund | 4.46% | −0.25 pp |
| Monica Parag Munot | 3.39% | unchanged |
| Sudha Rajesh Golecha | 2.54% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in KALPATARU
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹242 Cr
- 3 schemes
- Biggest holder
- SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP)
- ₹155 Cr · 2.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹155 Cr | held | Jun '25 |
| SBI Infrastructure Fund SBI Mutual Fund | ₹69 Cr | held | Jun '25 |
| SBI Resurgent India Opportunities Scheme SBI Mutual Fund | ₹18 Cr | held | Oct '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- -27%
- vs est. average cost
- Held by funds
- ₹242 Cr
- 3 schemes · ≈ 4.0% of the company
- Biggest holder
- SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP)
- ₹155 Cr · 2.0% of that fund
Shares held by these funds +22%
Jun '25 87.31 L shares Jul '26
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Kalpataru Limited
Guides on how to read this kind of business and the numbers that matter.