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Real estate developer Kalpataru Ltd witnessed a 42% drop in its consolidated net profit to INR 14 crore during the January-March quarter of FY25, largely impacted by increased expenses. Despite the dip in bottom line, the company's operational momentum remained strong, with revenue from operations rising 21% year-on-year to INR 667 crore. The quarter also saw pre-sales touch an all-time high of INR 1,724 crore, up nearly 79%, with average realisation per square foot improving significantly. Kalpataru ended the full fiscal year with a turnaround, reporting a net profit of INR 21.6 crore compared to a loss in the previous year, supported by a robust project pipeline and a successful IPO.
Kalpataru Ltd reported a consolidated net profit of INR 14 crore in the final quarter of FY25, down from INR 24.3 crore in the same period last year a decline of 42%. This decline came despite a healthy uptick in operational revenue, which rose to INR 667 crore from INR 551 crore in the year-ago quarter, marking a 21% increase. Advertisement
The company's total expenses grew by approximately 27% during the same quarter, putting pressure on its margins. However, adjusted EBITDA for the quarter remained healthy at INR 182 crore, with an EBITDA margin of around 30.5%, showcasing strong operating discipline. Finance costs and project execution timelines contributed to the bottom-line pressure, even as topline performance remained resilient.
Kalpataru's quarterly pre-sales surged 79% year-on-year, touching INR 1,724 crore compared to INR 961 crore in the same period last year. The company sold approximately 1.14 million square feet (msf) in the quarter, up 30%, while the average realisation per square foot increased from INR 10,935 to INR 15,127. This sharp improvement reflects a combination of better pricing power and demand traction across key markets.
For the entire financial year, Kalpataru reported a consolidated net profit of INR 21.6 crore, a major turnaround from a net loss of INR 94.8 crore in the previous fiscal. Operating revenue for the year stood at INR 2,222 crore, reflecting a year-on-year growth of 15%. Adjusted EBITDA for FY25 came in at INR 664 crore, with a margin of 29.9%.
The company launched seven projects during the year, adding 6.5 msf to its portfolio, while its ongoing and upcoming pipeline now spans 47 msf across 35 projects. These additions were made under Kalpataru's continued focus on an asset-light development model, which has helped it manage capital efficiently while scaling operations.
Following a successful IPO earlier this year, which raised INR 1,590 crore, Kalpataru utilised INR 1,192.5 crore to pare down its debt. This significant deleveraging move has improved its financial profile and increased flexibility for future growth. The IPO was not only well received in the market but also demonstrated investor confidence in the company's long-term business strategy.
The management, led by Managing Director Parag Munot, pointed to a combination of robust sales performance, disciplined execution, and asset-light project additions as key contributors to the turnaround in FY25. Munot mentioned that the company will continue to focus on enhancing its presence in the Mumbai Metropolitan Region and Pune both markets where Kalpataru has historically enjoyed strong consumer trust.
Source PTI
5th Jun, 2025
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