{"id":182818,"date":"2026-05-13T01:14:25","date_gmt":"2026-05-13T05:14:25","guid":{"rendered":"https:\/\/alphastreet.com\/india\/kalpataru-limited-kalpataru-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-13T01:16:49","modified_gmt":"2026-05-13T05:16:49","slug":"kalpataru-limited-kalpataru-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/kalpataru-limited-kalpataru-q4-2026-earnings-call-transcript\/","title":{"rendered":"Kalpataru Limited (KALPATARU) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Kalpataru Limited (NSE: KALPATARU) Q4 2026 Earnings Call dated May. 13, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Advait Phatarfod<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Parag M. Munot<\/strong> \u2014 Managing Director<\/em><\/p>\n

Chandrashekhar Joglekar<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Adhidev Chattopadhyay<\/strong> \u2014 Analyst<\/em><\/p>\n

Varun Arora<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the Kalpatru Limited’s Q4FY26 earnings conference call. As a reminder, all participant lines will be in the listen only mode. And there will be an opportunity for you to ask questions after the management’s opening remarks. Should you need assistance during the conference call please signal an operator by pressing Star then zero on your touchtone phone. I now hand the conference over to Mr. Advaisattarpur Head Investor Relations at Kalpitura Limited.<\/p>\n

Thank you. And over to you sir.<\/p>\n

Advait Phatarfod<\/strong> \u2014 Investor Relations<\/em><\/p>\n

Thank you, Michelle. Good morning ladies and gentlemen. Welcome to Q4 and FY26 results call of Kalpatturu Limited. We have with us today the management of Kalpataru Limited represented by Mr. Parag Manoat, Managing Director Mr. Narendra Lodha, Executive Director and Mr. Chandrasekhar Dhogekar, Director Finance and CFO. I would like to state that any forward looking statements made during the discussion today are based on our current expectations, assumptions and projections about future events and are subject to risks and uncertainties beyond our control.<\/p>\n

With that I will now hand over the call to Mr. Muno for the opening remarks post which we shall open the floor for Q and A. Over to you sir.<\/p>\n

Parag M. Munot<\/strong> \u2014 Managing Director<\/em><\/p>\n

Thank you. Good morning everyone and a warm welcome to all of you. It’s a privilege to report that fiscal year 2026 has been a landmark year for Kalpattur Limited representing the strongest operational performance in our company’s history. Coincidentally, it is also the year in which we got listed. Our momentum peaked in the fourth quarter where we achieved our highest ever quarterly presales of 1,833 crores. While this reflects a steady 6% year on year increase the standout highlight is our cash flow efficiency.<\/p>\n

Collections for quarter four reached a record 1,487 crores. A robust 41% growth that underscores our execution capabilities. Looking at the full year, the numbers tell a story of consistent high quality scaling. FY26 presale reached 5280 crores up 17% while collections grew by 34% to 4960 crores. The consistency of our performance is best reflected in our multi year trends. Our 4 year pre sales compounded annual growth rate stands at 26% while our collections compounded annual growth rate of 33% continues to outpace sales growth reflecting our deep commitment to delivery and operational excellence.<\/p>\n

Turning to our portfolio, our portfolio comprises 31 projects with a total saleable area of 43 million square feet. Of these, 20 are ongoing projects with a saleable area of approximately 24 million square feet, of which about 11.4 million square feet has already been sold. These ongoing projects represent a gross development value of nearly 36,000 crores, translating into total future inflows of approximately 27,000 crores. This includes both balanced collections from sold inventory as well as the expected value of unsold units.<\/p>\n

The MMR region continues to be our largest contributor with 15 projects accounting for 23,500 crores of total expected inflows. Pune and other markets together contribute around 3500 crores. In addition, our ready to move in projects and forthcoming launches together at approximately 30,000 crores, so total future inflows across the portfolio is about 57,000 crores. This strong visibility provides us with a solid foundation for sustained growth, healthy cash flows and future balance sheet spending going forward.<\/p>\n

Now I will talk about our new launches. During FY26 we launched four towers phases in three projects nearly namely Eternia at Kalputuru Park City, Kalpatru Arya and Shishti Namma and launched one new project Estella at Kalpadru Park City together totaling to 1.8 million square feet saleable area. A few projects which were earlier in vistas to be launched in FY26 have now spilled over to H1FY27 and will be launched in due course post receipt of regulatory approvals for FY27 we have an exciting pipeline of new launches of 5 million square feet amounting to a total GDV of 7,800 crores.<\/p>\n

Turning to project completions, quarter four was a period of intense delivery. We secured occupation certificates for approximately 1.37 million square feet spanning six towers at Kalpatru Vivan, one tower at Kalpatru Elitis and one phase at Kalpatru Arya. This capped off an extraordinary year for our execution team. In FY26 we completed 5.15 million square feet, nearly double of our delivery volume from the previous years. More importantly, we received occupation certificate for 3,000 units, a testament to our commitment to project timelines and customer delivery.<\/p>\n

Looking ahead, we intend to maintain this space. We have a target of delivering roughly 5.5 million square feet in FY27. This consistent delivery pipeline provides us with exceptional visibility into our operating cash flows and sets a clear path for profit recognition in the coming quarters. On the business development front, I am pleased to share that we have secured a development agreement for the redevelopment of Sri Mahalakshmi Cooperative Housing Society. This project is situated on a prime 3 acre land parcel just off Veera Desai Road in Andheri west, one of Mumbai’s most sought after residential and commercial hubs.<\/p>\n

With the potential carpet area of approximately 0.4 million square feet, we estimate the gross development value to be in the region of 1,400 crores. I want to emphasize that our approach to business development remains highly disciplined. We are not chasing volume for the sake of scale. Instead we are selectively pursuing high potential projects like this one that align strictly with our internal return thresholds and brand positioning. With that, I would now like to hand over the call to Sandra Shekhar Zoglekar, our CFO for the detailed update on our financial performance.<\/p>\n

Over to<\/p>\n

Chandrashekhar Joglekar<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Cj. Thank you Parag. Good morning everyone and welcome to our Q4FY26 earnings call. Let me start with the financial update for Q4 and FY26 both. In the fourth quarter we reported revenue from operations of Rupees 1694 crore, a nearly threefold increase from the 601 crore reported in the same period last year. This propelled our full year revenue to 3436 crore representing a 54% year on year growth. This surges in revenue flowed directly to our bottom line. Also our Adjusted EBITDA for Q4 reached 612 crore with the margin expanding to a very healthy 36% for the full year.<\/p>\n

Adjusted EBITDA stood at 1022 crore reflecting a 30% margin. On the PAT front we recorded a profit of 194 crore for the quarter bringing our full year PAT to 80 crore. It is important to contextualize these results with our accounting system. We have shared previously. We are operating under a dual track revenue recognition method while seven of our ongoing projects continue under the percentage of completion method which is POCM. However, 13 newer projects especially commenced after April 2022 follow the project completion method.<\/p>\n

The robust Q4 performance is directly linked to these newer projects reaching the handover stage and we expect this delivery led revenue recognition to be a recurring phenomena in our financial narrative going forward. A significant driver of our Q4 financial performance was the successful execution and of our delivery of milestones. During the quarter. We received occupational certificates for six Towers at Kalpatru, Vivant at JVLR one tower of Kalpatru Elitus and a key phase of Kalpatru Aria together totaling to 1.37 million square feet.<\/p>\n

In line with the guidance we provided last quarter, the full revenue and profitability for these specific developments have now been recognized in our profit and loss account in Q4. Looking ahead, we see similar momentum building across our premium portfolios. Projects such as Kalpaturu 1 in Varli, Amare in Juhu Adwai in Borivali and our South Mumbai landmarks Kalpatru Priway and Kalpaturu Ajuro continue to see healthy sales velocity. While these developments are also under the project completion method, the sustained sales demand today provides us with a high margin revenue backlog for the years to come.<\/p>\n

Turning to our balance sheet position, as of March 31st, 2026 our gross debt stood at Rupees 9,168 crores while cash and cash equivalents were 1,062 crores resulting in a net debt of 8,106 crores. Consequently, our net debt to equity ratio stands as of March 2026 at two times. As several of our projects start getting OCS occupation certificates, we expect a significant influx of cash and profit recognition. This will allow us to naturally and organically and systematically deleverage improving our net debt to equity ratio as we transition from a high investment phase to a higher realization phase.<\/p>\n

A key pillar of our financial strategy is continuous optimization of our borrowing costs. Since our listing we have leveraged our strength and strengthened our market position to refinance approximately 3,500 crores of debt. These results are tangible. We have achieved an interest rate delta of 3.5% of these facilities leading to a 120 basis points drop in our overall blended cost of debt. Total debt. This optimization alone adds approximately around Rupees 125 crore to our annualized savings providing a significant tailwind for our profitability.<\/p>\n

Looking ahead, we have an active pipeline for further optimization. We expect to refinance another around 1,300 crores in the coming quarter for fiscal FY27. Our focus is clear to build upon the foundation we established this year. Our pipeline for the new year is robust supported by strong slate of new launches designed to sustain our pre sales trajectory. Furthermore, with approximately 5.5 million square feet lined up for completion, we have clear visibility into our cash flows for the next 12 months.<\/p>\n

Considering the current global macroeconomic environment and global conditions as well as our local conditions, we would come back with the formal guidance for FY27 at a subsequent date. In closing, I want to reiterate that Kalpatturu’s operational liquidity is strong. Our ongoing projects are fully financially closed and construction across all the sites. All the projects is moving at a full speed. We are confident in our execution engine and our ability to deliver long term value. With that we would be happy to take questions.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much, sir. Ladies and gentlemen, we will now begin with the question and answer session. Anyone who wishes to ask questions may please press star and one on their touch. If you wish to withdraw yourself from the question queue, you may press star and two participants are requested to use only handsets while asking our question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. You may please press star and one to ask question. The first question is from the line of Adi Dev Chatopadhyay from ICICI Securities.<\/p>\n

Please go ahead.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Yeah. Good morning everyone. Thank you for the opportunities. The first question is on our upcoming launches for this year which you have given the presentation. So in terms of gdb, are we looking to launch this entire thing to bring it to the market or just specific phases out of this? If you could quantify that and it would also help us understand how these launches will be faced through the year. Will it be back ended in the second half or it will be spread equally through the year. And out of this whatever inventory we are bringing the market, any indicative amount, we are a percentage.<\/p>\n

We are looking to monetize ourselves within this year. That is the first question.<\/p>\n

Varun Arora<\/strong><\/p>\n

Hello.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Good morning, Adive. So these launches are spread across the entire year. Well, in the first half also we will be doing about three of the launches and the balance will be approximately in the second half. Most of them are in total other than Kalpatru blossoms which is in Pune, which may happen in two phases. Otherwise all will be launched in one phase. We plan to achieve as we do in all our launches, approximately 20, 25% in launch we sell. And that’s the target we have for this year also.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay, so around 2000 crores at least is what we expect from the launches. At least to contribute from. For this year. Right on the lower end.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Yes. Yes. Yes.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay. Yeah. Yeah, yeah. And so if you just share with us as of March 26th. What is the answer? The inventory we have to sell across all our ongoing projects means whatever we have launched so far. The. The value. I know you have given in the presentation, the overall value but just whatever. I’m just trying to get at what is the inventory we have to sell going to next year across all our projects.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So. So the inventory of ongoing projects which we need to sell is out of the balance value. Unsold inventory, which is of basic value of unsold inventory, 14,000 crores. From that we will be selling from the ongoing. Of course.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Yeah, yeah, yeah. Okay. So you will have 14,000 crores which is existing plus 8,000 crores of roughly inventory into the market in terms of new launches going to next.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Value of unsold inventory. Sorry, I expected earlier unsold inventory, 22, 000 crore. Sorry, I’m wrong, not 14,000. Okay, okay, okay,<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay. Plus the 8,000 crores of launches which you have intended to bring into the market. Correct.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay,<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay, fine. So second question if you could. I know you said you’ll come back with guidance, but on the debt front or any absolute number or any ratio in terms of where we want to be 12 months down the line, any indicative number you would like to share.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Can you repeat please?<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Something on the net debt levels right from the 8100 crores. So is there any specific target or anything we are looking to achieve either in debt equity ratio terms or in absolute terms a few months down the line? Yeah.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So for FY26 we are at two times and then the net debt is around 8100 crores. As we spoke, we are also looking forward for having some investment to be done in the new projects or new BD and therefore will be actually having a strategy where we will be. Actually we have some pipeline of new BD getting developed. So some amount will be invested over there. And. But at the same time it will be ensured that the net debt level surely doesn’t go beyond what it is today. As of March 26th for March 27th, it doesn’t go up.<\/p>\n

However, we would attempt to reduce it marginally at the absolute level but not substantially. So our debt to equity ratio for FY27, we will be of course issuing a proper guidance as I mean little later, but it will be lower than two for sure.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay, fine, fine. So I’m just. One final question again. A bookkeeping question for FY26. Right. We have the collections number. If you could just share for the overall year the construction spend, approval cost and interest and tax output which we have done for the full year. If you could share that please.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So. So the construction cost for the full year for the entire collection was 1916 crores. As against that our share, I mean Kalpatru share was 1512 crores construction cost.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

So this is or for the quarter. Okay. So 1900 crores is the output. Socially<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

I would go on the construction cost that is at the full projects. All projects at 100 level. Our share of was 1512 crores out of the.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay, okay sir. And other approval spend and other things are just trying to get at the OCF you have generated for there. That is probably the intent of the question. So no,<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

I can come straight to the OCF if you want. So generated for the full year was 1500 crores.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

100 share level. And at the portion it was 1000 crores. 1002.<\/p>\n

Adhidev Chattopadhyay<\/strong><\/p>\n

Okay, okay. Okay, fine. Okay, so about that. I’ll come back in the queue with more questions if I have. Thank you and all the best.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may please press star and one to ask questions. The next question is from the line of Sumit Kumar from JM Financials. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi. Hi sir. Good morning and thanks for the opportunity. My first question would be on the unsold inventory under construction inventory of 22,000 crores. What would be the sort of internal target as well as guidance as to in how many years we’ll be able to monetize that. And second with the OCF of thousand crores what was used in Capex BD and how much was used to bring down debt. So those are my two questions.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So. Good morning Sumit. So basically out of the OCF this OCF of 1002 crore which I mentioned of the Kalpaturu pro rate I share in the entire portfolio includes around 280 crores which was spent for the projects which were newly acquired as of April 25th. So therefore typically without considering that 280 crores, the OCF stands increased to 1282 crores. From that we have paid 280 crores as I said for the business development of the already acquired projects during FY25 26. And from there the interest payouts happened because this is OCF and from there the tax payouts happened and therefore the debt levels which are currently at 8100 crores, that is after the repayment of 1200 crores of the debt which was done over a period of, you know, last nine months.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure, sir. And on the target to monetize the 20,000 crores inventory, what is the timeline that we should assume?<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So what will happen? It’s always a overlapping situation. This 22,000 inventory will get added. Just we spoke a while ago by around 7 to 8,000 crores during the year itself. So that will take it to around 30,000 crores. So this, this entire 30,000 crores will get liquidated most part of it over a period of next four to five years. Something will remain for fifth for six years actually.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so just a follow up if I may then any sort of guidance that you can give on the collection number for next year or basis this<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Sumit. As I said earlier we will be coming with the guidance to the market. We’ll have to little wait and watch the situations around and then we’ll come back.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. But it will be,<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

I can, I can tell you one thing that it will be always. I mean it will be a growth story only. The only fact is that we will have to wait and watch and then come back to the market. For the guide<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Focusive. Thank you and all of us, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. You may press star and one to ask questions. The next question is from the line of Bhavan Modi from Anand Rachi. Please go ahead. Mr. Modi, I have unmuted your line. Please proceed with the question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi, am I audible?<\/p>\n

Operator<\/strong><\/p>\n

Yeah,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. So my, so my first question is with respect to the, you know, the Middle east crisis, right. So how do you see, you know with respect to the you know, footfall conversion and the second with respect to the, you know, the cost escalation and the supply chain issues. So can you just throw some light on that?<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Yeah. Hi, good morning. So on the construction side I think our relationship with the vendors are strong and from long years. So we have streamlined it. We had some issues in the tiles and pipes and all but that’s all got streamlined. The construction costs have increased but it’s 2 to 4% of the construction cost and it should not have an impact on us looking at the total value of sales, the geopolitical crisis and the little Indian narrative also we have to wait and watch how it is. Till now our walk ins has been robust.<\/p>\n

In April also as the life cycle art projects are which are at the maturity and mid level. We are seeing a good robust walk ins yet and conversions we don’t see an issue till now. We will wait and watch in the next few months how it goes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Second, with respect to you know the, the there’s a you know, call from the pm. You know, with respect to, you know, the suggestion for your work from home. So do you see these as you know like being a, you know like silver lining for us or do you see these more as in a temporary phase you know, not having any, you know, major impact.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

I think this should not have a major impact. Our locations of our projects are such in the MMR and all that. Regardless of these matters, sales velocity for people, customers who want to grow and upgrade their apartments or demand for a good premium project is there. So it’s continuous. This will not have an impact. It can only help in the future if people want to have bigger homes or better homes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, got it sir. Thor is with respect to your know your future launches. I think it’s around 8,000 cr. So what would be the our share. Our share of jdv.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

This. Most of it is our share. Our share other than Blossoms. Yeah. Which is a joint development project.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay, understood. And so this last thing you know your in your net debt application you have given the cash, right. So just wanted to understand how much of the cash is still you know locked in the rare account which is not available to us right now. So do you have the figure handy?<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Yeah, yeah, yeah. So we will give the details but it’s not. Not substantial. Today our cash balances as of March 26 has been around 1062 crores out of which not more than 20% is locked into the Zehra accounts. Rest of the cash is available for the projects freely.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So can you just repeat number Z number<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Out of 1062 closing. I mean cash balances at the end of the year we have around not more than 20 inter accounts locked for the reason for the you know the rules and regulations of rera.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Got it sir. Got it. That’s it for myself.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Yeah.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Anyone who wishes to ask questions may please the star and one. Now the next question is from the line of Varun Dulasaria from 361 Capital.<\/p>\n

Varun Arora<\/strong><\/p>\n

Thank you for the opportunity. So with respect to your ongoing project you mentioned around 27,000 crore of future inflows. I just wanted to understand how much construction cost and FHI and other costs which is pending with respect to this ongoing project.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So Varun it will be a detailed working. I mean it will be a little. A little elaborate working. So we’ll provide you the data later.<\/p>\n

Varun Arora<\/strong><\/p>\n

Okay? Okay sir. Sure. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may please press star and want to ask questions. We’ll take the next question from the line of Varun Jula Sariya from 361 Capital. Please go ahead.<\/p>\n

Varun Arora<\/strong><\/p>\n

On the new launches. What is the margins that we are penciling in for these new launches and the forthcoming projects like mentioned for 28,000 crore. So what is the margin that we are looking at.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

So generally the margins are in the range of 20 to 25%. However the that is. That is at a revenue statement. So far as the cash flows are concerned it will range around 25 to 30%. Because most of the payouts for towards the acquisition of these projects is already happening.<\/p>\n

Varun Arora<\/strong><\/p>\n

Okay. So for this forthcoming projects 28,000. All the like land payment and everything is done, right? Yes. Yes. Fully picks to be done. No, no. How much was nothing to be how much. So how much was the capex for these you know BDS which we have done of 28 000.<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

We can provide you the data. You can connect with us later. Because it again it is a project by project. It’s a different numbers. So<\/p>\n

Varun Arora<\/strong><\/p>\n

Apart from this forthcoming project do we have any other land bank know which is not factored in this forthcoming project?<\/p>\n

Chandrashekhar Joglekar<\/strong><\/p>\n

Yes, we have. Beyond this forthcoming projects we have certain land parcels which are not considered in this discharge.<\/p>\n

Varun Arora<\/strong><\/p>\n

Okay sir. Sir, I’ll reach out to your clients. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Participants who wishes to ask questions may please press star and one. Now. The next question is from the line of Harsh Pathak from Modilal Oswal. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello.<\/p>\n

Operator<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Hi team. Good morning. So my question is on the Worli project how. How is the traction there? Have we seen any changes in footfalls for the situation that has evolved in the last two months? And how are the conversions happening there?<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Yeah. Hi. Thank you. So football has been good. We have good sales in Worli. I can just tell you in March itself in the total company we sold thousand crores and Worli played a good part of it. About 400 crores. And. And in April also we are looking at good footfalls. Construction is in full swing. All approvals are in place. And we see we are on track of our guided sales targets. What we have kept for Kalpatru one over the next five years.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure. So is this. I mean we have been offering some payment plans there and I think some other players have also been offering the payment plans. So do you see this as a facility facilitating thing to. I mean for the sales conversion or it’s an organic thing that has been that we are seeing at the project.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

You’re right. It’s an organic thing. It’s the more flexibility of the customer. He has multiple options to choose from at different pricing structure. He can take what suits him<\/p>\n

Unidentified Participant<\/strong><\/p>\n

As a general trend across our projects. Considering the, you know mid premium, the luxury segment. How are the footfalls? Have we seen Any change and how is the conversion velocity that we are seeing? And this payment plan option, is this something that we are also evaluating in the Future launches in FY27?<\/p>\n

Parag M. Munot<\/strong><\/p>\n

So payment options we are not anticipating in the new launches? No. Usually these payment launches happen generally when your life cycle of project goes over. So it’s not usually done in the launches time. Secondly, footfalls at all our sites actually is good at this moment. We are seeing people coming forward looking at the activities at the construction. Barring the vacation of April and geopolitical little slowdown, we have not seen a drastic change in the footfalls.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so understood. Thanks a lot for taking my questions.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Please press star and one to ask questions. The next question is from the line of Anuj Kashyap from E3 Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello. Hi, good morning. I’m audible.<\/p>\n

Operator<\/strong><\/p>\n

Yes sir. Please. Rasheed<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, I wanted to know your viewpoint on your diversification from the standpoint view of like geography. What is your view on it? Geographically we are heavily dependent upon the Mr. Region. So what is your take on geographical diversification?<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Hi. So our focus is always been as an organization more on the western region, MMR and Pune and which is among the top realty markets. And we will strongly be here, which is good. We have a project in Hyderabad which has done well and some of the markets we will evaluate opportunities in the future. But at this moment we are more focused on these markets which are robust.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes sir, you are right on it. And sir, one more additional question to it. Sir, like many realtors these days are focusing on senior living spaces. Those projects have got different skills or different things which are required in those set. So as a. As an organization Kalpataru, are you considering to diversify into different like senior living residents and all those stuff?<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Yes, we are keep evaluating that and we look at project level. Does that make suiting or not? Does that suit that project development or not? But we keep evaluating that.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Do you have that point into consideration while you’re designing the project or you’re implementing the project? Because high net worth individuals are more competitive in the MMR regions and the demographic is changing right now. So accordingly. So that is the reason I was asking<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Frankly how we work is it may not be a focused senior living thing but in our mixed use development or our residential development also we see to it that we have the right facilities for senior members who are staying there. But we have not much on the senior living at this moment in our projects.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you sir. The best of luck for the future. Board. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, as there are no further questions I now hand the conference over to the management of Kalpatru Limited for closing comments. Thank you. And over to you.<\/p>\n

Parag M. Munot<\/strong><\/p>\n

Thank you to all the participants for joining our results call. We look forward regularly interacting with you. We are very confident to achieving our goals. In case of any other further questions feel free to reach out to our investor relations or the ENY team for clarifications. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you members of the management. On behalf of Kalpatru Limited. That concludes this conference. We thank you for joining us. And you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Kalpataru Limited (NSE: KALPATARU) Q4 2026 Earnings Call dated May. 13, 2026 Corporate Participants: Advait Phatarfod \u2014 Investor Relations Parag M. Munot \u2014 Managing Director Chandrashekhar Joglekar \u2014 Chief Financial Officer Analysts: Adhidev Chattopadhyay \u2014 […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"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":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":145348,"url":"https:\/\/alphastreet.com\/india\/kalpataru-power-transmission-q4fy23-earnings\/","url_meta":{"origin":182818,"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. 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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":[]},{"id":167116,"url":"https:\/\/alphastreet.com\/india\/kalpataru-projects-international-ltd-q3fy25-3-fall-in-profits\/","url_meta":{"origin":182818,"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. 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EPC execution momentum across power T&D, oil & gas pipelines, and railways drove topline growth despite modest profitability gains from stable margins. 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