{"id":179969,"date":"2026-02-09T00:58:34","date_gmt":"2026-02-09T05:58:34","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=179969"},"modified":"2026-02-09T00:58:34","modified_gmt":"2026-02-09T05:58:34","slug":"kalpataru-limited-approves-inr-350-crore-ncd-issuance-amid-q3-fy26-financial-disclosures","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/kalpataru-limited-approves-inr-350-crore-ncd-issuance-amid-q3-fy26-financial-disclosures\/","title":{"rendered":"Kalpataru Limited Approves INR 350 Crore NCD Issuance Amid Q3 FY26 Financial Disclosures"},"content":{"rendered":"\n

The Mumbai-based developer reported INR 3,447 crore in 9M FY26 pre-sales but revised its annual collection and sales guidance downward due to regulatory delays. Investors are monitoring the company\u2019s improved debt-to-equity ratio following its IPO equity infusion earlier this fiscal year.<\/p>\n\n\n\n

On February 6, 2026, the Board of Directors of Kalpataru Limited (NSE: KALPATARU) approved raising up to INR 350 crore through unlisted Non-Convertible Debentures (NCDs) via private placement. This decision follows the release of the company\u2019s Q3 FY26 results, which showed a consolidated revenue of INR 505 crore and a net loss of INR 67 crore for the quarter. The company\u2019s financial performance remains influenced by its transition to the Project Completion Method (PCM) for revenue recognition on newer projects, where revenue is only recognized upon obtaining an Occupation Certificate while marketing and overhead expenses are charged immediately to the profit and loss statement.<\/p>\n\n\n\n

Latest Quarterly Results and Highlights<\/strong><\/h2>\n\n\n\n

For the third quarter ended December 31, 2025, Kalpataru Limited reported pre-sales of INR 870 crore, representing a 14% year-over-year decline. However, sales collections reached INR 1,101 crore, a 17% increase compared to Q3 FY25. The average realization for the quarter stood at INR 12,939 per square foot. On a standalone basis, the company reported a total income of INR 97.61 crore and a comprehensive income of INR 1.05 crore for the quarter after tax.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Nine-Month Performance and Growth Context<\/strong><\/h2>\n\n\n\n

The cumulative performance for the first nine months of FY26 shows a robust trajectory, with pre-sales reaching INR 3,447 crore, a 23% year-over-year increase. Total collections for the 9M FY26 period were INR 3,409 crore, reflecting 30% growth over the same period in the previous year. The company successfully received Occupation Certificates for approximately 3.52 million square feet (msf) during these nine months, significantly higher than the 1.90 msf recorded in the same period of FY25.<\/p>\n\n\n\n

Market Capitalization and Robust Capital Strength<\/strong><\/h2>\n\n\n\n

The company’s equity base stood at INR 3,887 crore as of December 31, 2025. Following an INR 1,590 crore IPO in the first half of FY26, the company utilized INR 1,192.5 crore for debt repayment. Consequently, net debt decreased to INR 8,269 crore, down from INR 9,310 crore in March 2025. The Net Debt to Equity ratio showed substantial improvement, dropping to 2.1x from 3.8x in March 2025 and 10.1x in March 2024.<\/p>\n\n\n\n

Where Does Kalpataru Limited Stand Today?<\/strong><\/h2>\n\n\n\n

Kalpataru Limited is among the top five developers in the Mumbai Metropolitan Region (MMR) and maintains a 56-year legacy in the Indian real estate market. Its business model is heavily focused on the residential segment, which constitutes 95% of its portfolio. The company\u2019s operational scale includes 83 completed projects totaling approximately 23.3 msf and an ongoing\/planned pipeline of 29 projects totaling roughly 41.2 msf.<\/p>\n\n\n\n

Performance by Business Vertical and Segment Updates<\/strong><\/h2>\n\n\n\n

\u2022 Residential Vertical: Comprises the core growth engine, with 20 ongoing projects across MMR, Pune, Hyderabad, and Nagpur.<\/p>\n\n\n\n

\u2022 Annuity Portfolio: Generated gross rental income of INR 51 crore in Q3 FY26 from three office properties in Mumbai and Pune and one retail mall in Thane.<\/p>\n\n\n\n

\u2022 Green Developments: The company is a founding member of the Indian Green Building Council (IGBC) and has 39 projects either certified or in the process of certification, including the IGBC Platinum-certified Kalpataru Paramount.<\/p>\n\n\n\n

Guidance and Future Outlook<\/strong><\/h2>\n\n\n\n

The management has revised its FY26 guidance downward due to delays in regulatory approvals and subsequent postponements of project launches. The updated guidance is as follows:<\/p>\n\n\n\n

\u2022 Pre-sales Value: Revised to ~INR 7,000 crore (a downward adjustment of 20-22%).<\/p>\n\n\n\n

\u2022 Collections: Revised to ~INR 5,700 crore (a 10% reduction).<\/p>\n\n\n\n

\u2022 Net Debt: Targeted at ~INR 7,300 crore by the end of the fiscal year.<\/p>\n\n\n\n

Regulatory Milestones and CSR Updates<\/strong><\/h2>\n\n\n\n

Strategic progress includes the launch of two towers at Eternia at Kalpataru Parkcity, Thane, in Q3 FY26. In terms of corporate social responsibility, the company\u2019s Mobile Medical Unit in Karjat has served 3,769 beneficiaries, and its beach clean-up drives have removed over 17,000 kg of plastic waste in the 9M FY26 period.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Mumbai-based developer reported INR 3,447 crore in 9M FY26 pre-sales but revised its annual collection and sales guidance downward due to regulatory delays. Investors are monitoring the company\u2019s improved debt-to-equity ratio following its IPO equity infusion earlier this fiscal year. On February 6, 2026, the Board of Directors of Kalpataru Limited (NSE: KALPATARU) approved […]<\/p>\n","protected":false},"author":2385,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,85],"tags":[15959,15963,15957,15962,15956,15964,15960,15966,15958,15965,15968,15961,15967],"class_list":["post-179969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-retail-stocks","tag-kalpataru","tag-kalpataru-announcement","tag-kalpataru-earnings","tag-kalpataru-investor-relations","tag-kalpataru-limited","tag-kalpataru-management","tag-kalpataru-price","tag-kalpataru-q1","tag-kalpataru-q2","tag-kalpataru-q3","tag-kalpataru-q4","tag-kalpataru-stocks","tag-kalpataru-ticker"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":145348,"url":"https:\/\/alphastreet.com\/india\/kalpataru-power-transmission-q4fy23-earnings\/","url_meta":{"origin":179969,"position":0},"title":"Kalpataru Power Transmission Q4FY23 Earnings","author":"Karan_Singh","date":"May 8, 2023","format":false,"excerpt":"An international EPC company with varied interests in oil and gas pipelines, railroads, biomass-based power production, and power transmission and distribution, Kalpataru Power Transmission Ltd. Financial Results: Kalpataru Power Transmission Limited reported Total Income for Q4FY23 of \u20b9 4,896 Crores up from \u20b9 4,169 Crore year on year, a rise\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-869375868.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-869375868.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-869375868.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-869375868.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":179640,"url":"https:\/\/alphastreet.com\/india\/kalpataru-projects-q3-fy26-earnings-results\/","url_meta":{"origin":179969,"position":1},"title":"Kalpataru Projects Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"February 5, 2026","format":false,"excerpt":"Executive Summary Kalpataru Projects International Ltd reported Q3FY26 revenues of \u20b96,665 crore, up 16.28% YoY, with consolidated net profit increasing 6.43% to \u20b9149 crore. EPC execution momentum across power T&D, oil & gas pipelines, and railways drove topline growth despite modest profitability gains from stable margins. Revenue & Growth Revenues\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/KP.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":167116,"url":"https:\/\/alphastreet.com\/india\/kalpataru-projects-international-ltd-q3fy25-3-fall-in-profits\/","url_meta":{"origin":179969,"position":2},"title":"Kalpataru Projects International Ltd Q3FY25; 3% fall in Profits","author":"Chirag Gupta","date":"February 27, 2025","format":false,"excerpt":"Kalpataru Power Transmission Ltd is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation. Financial Results: Kalpataru Projects International Ltd reported Revenues for Q3FY25 of \u20b95,732.00 Crores up from \u20b94,896.00 Crore year on year, a rise of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/1-16.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":143082,"url":"https:\/\/alphastreet.com\/india\/earnings-kalpataru-power-transmission-ltd-nsekalpatpowr-q3fy23-results-out-total-income-rise-2-yoy\/","url_meta":{"origin":179969,"position":3},"title":"Earnings | Kalpataru Power Transmission Ltd. (NSE:KALPATPOWR): Q3FY23 Results Out; Total Income rise 2% YoY","author":"Divyansh_Kasana","date":"March 1, 2023","format":false,"excerpt":"Kalpataru Power Transmission Ltd. (NSE:KALPATPOWR) is an Indian engineering, procurement, and construction (EPC) company that specializes in power transmission and distribution, oil and gas pipelines, railways, and infrastructure projects. The company was founded in 1981 and is headquartered in Mumbai, India. 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Financial Results: Kalpataru Projects International Ltd reported Revenues for Q2FY25 of \u20b94,930.00 Crores up from \u20b94,518.00 Crore year on year, a rise of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/11\/download-11.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170734,"url":"https:\/\/alphastreet.com\/india\/kalpataru-projects-q1-fy26-earnings-results\/","url_meta":{"origin":179969,"position":5},"title":"Kalpataru Projects Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"August 28, 2025","format":false,"excerpt":"Kalpataru Power Transmission Ltd is a global EPC player with diversified interest in power transmission and distribution, oil and gas pipeline, railways and biomass based power generation. Presenting below are its Q1 FY26 earnings results. \u00a0 Q1 FY26 Earnings Results Consolidated Revenue:\u00a0\u20b96,171 crores, up 35% YoY (Q1 FY25: \u20b94,587 crores),\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Kalpataru Projects Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/4-19.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2385"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=179969"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179969\/revisions"}],"predecessor-version":[{"id":179971,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/179969\/revisions\/179971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=179969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=179969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=179969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}