Kalpataru LimitedQ1 FY27 Results & Financial Update

Kalpataru Limited: Q1 FY27 consolidated results and company financials – revenue ₹472.20 Cr, PAT ₹-29.04 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: KALPATARUPublished 23 Oct 2026Updated 23 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹472.20 CrReported Q1 FY27
Profit after tax₹-29.04 CrReported Q1 FY27
EPS₹-1.29Reported Q1 FY27

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Quarterly Results AnalysisExplore Kalpataru Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

Kalpataru Limited reported consolidated revenue from operations of INR 472.20 crore for the first quarter ended June 30, 2026, alongside other income of INR 22.84 crore, bringing total consolidated income to INR 495.04 crore.

02

The consolidated financial performance for Q1 FY27 was impacted by higher operating costs, including employee benefits expenses of INR 60.37 crore and other expenses of INR 68.35 crore, which elevated total consolidated expenses to INR 548.81 crore before considering associate and joint venture contributions.

03

The group recorded a consolidated loss before share of profits/losses in associates and joint ventures and exceptional items of INR 53.77 crore. However, a positive share of net profit from associates and joint ventures amounting to INR 18.72 crore cushioned the pre-tax outcome, resulting in a consolidated profit before tax (and before exceptional items) of a loss of INR 35.05 crore.

04

After accounting for a tax credit of INR 6.01 crore, the company registered a consolidated net loss (PAT) of INR 29.04 crore for the quarter. The net loss attributable to the owners of the parent stood at INR 26.52 crore, while non-controlling interests accounted for INR 2.52 crore of the period's loss.

05

Basic and diluted consolidated earnings per share (EPS) for the quarter were reported at a negative INR 1.29 each (not annualized), reflecting the loss-making performance during the period under review.

06

The financial statements highlight substantial corporate debt-funding and financing actions during the quarter, notably a major debenture issuance by subsidiary Kalpataru Properties Limited, alongside continued deployment of initial public offering (IPO) proceeds towards debt reduction and general corporate purposes.

07

Profit after tax was ₹-29.04 Cr for the reported quarter. EPS was ₹-1.29 for the reported quarter.

01 · Business model

What does Kalpataru do?

Kalpataru Limited is primarily engaged in the business of real estate development, focusing on the construction and sale of residential units within India.

The company operates through a network of subsidiaries, joint ventures, and associate entities that collectively undertake land acquisition, project planning, execution, and residential township development.

Its primary revenue engine stems from residential real estate sales, while operating within a single reportable business and geographic segment under Indian Accounting Standards.

02 · Historical context

What shaped the business before this quarter

Business evolution

Previously, on 21 November 2025, the Government of India notified the provisions of the Labour Codes, consolidating 29 existing labour laws and introducing a revised definition of wages that affected employee benefit entitlements across the group during FY25-26.

03 · Financial snapshot

Current-quarter financial snapshot

MetricQ1 FY27
Revenue from operations₹472.20 Cr
Total income₹495.04 Cr
Profit before tax₹-53.77 Cr
Profit after tax₹-29.04 Cr
EPS₹-1.29

Financial interpretation

What the reported numbers mean

Profit conversion

Profit after tax represented -6.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.

Pre-tax earnings

Profit before tax was equivalent to -11.4% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.

Operating revenue versus total income

Total income exceeded operating revenue by ₹22.84 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.

Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.

04 · Why it moved

Why the quarter looked the way it did

What drove revenue

Residential Unit Sales

Revenue from operations of INR 472.20 crore was derived primarily from the sale of residential units across the company's real estate development portfolio.

Other Income

The company recorded other income of INR 22.84 crore during the quarter, contributing to a total consolidated income of INR 495.04 crore.

What drove margins

Operating Cost Pressures

Cost of sales and other operational expenses stood at INR 389.34 crore, while employee benefits expenses were INR 60.37 crore and other expenses totaled INR 68.35 crore, leading to a negative operating result before other adjustments.

Finance Costs and Depreciation

Consolidated finance costs for the quarter were INR 20.49 crore, and depreciation and amortization expenses amounted to INR 10.26 crore, exerting downward pressure on profitability.

05 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Single Reportable Segment

The group is primarily engaged in real estate development, considered the only reportable business segment, with operations concentrated in India and driven primarily by residential property sales.

Geography and market mix

Domestic Operations

The company operates exclusively within India and does not have operations in economic environments with different risks and returns, constituting a single geographical segment.

06 · Strategy & new businesses

How the company is trying to change its growth mix

Subsidiary Debt Financing

During the quarter ended June 30, 2026, subsidiary Kalpataru Properties Limited issued 1,63,500 secured, rated, listed, redeemable non-convertible debentures (NCDs) of face value Rs. 1 Lakh each, aggregating to Rs. 1,635 Crores on a private placement basis, listed on BSE on May 25, 2026.

07 · Reported developments

What changed operationally

Associate and Joint Venture Contribution

The group's share of net profit in associates and joint ventures contributed a positive INR 18.72 crore during the quarter, partially offsetting standalone operational losses.

Tax Credit

The company recorded a net tax credit of INR 6.01 crore for the quarter, driven by a deferred tax credit of INR 12.23 crore.

08 · Pressure points & risks

What is not going smoothly

Consolidated Net Loss

The company reported a consolidated net loss after tax of INR 29.04 crore for Q1 FY27, driven by higher operational expenses and finance costs exceeding operating revenue.

09 · Cash flow & balance sheet

Profit is one thing. Cash and funding tell another part of the story.

Capital allocation & funding

IPO Proceeds Utilization

Out of total net IPO proceeds of INR 1,590.00 crore, INR 333.26 crore was utilized for the repayment/prepayment of certain borrowings of Kalpataru Limited, INR 859.24 crore for borrowings of subsidiaries, INR 324.67 crore for general corporate purposes (with INR 8 lakh unutilized), and INR 71.69 crore for issue expenses (with INR 1.06 crore unutilized) as of June 30, 2026.

Subsidiary NCD Issuance

Subsidiary Kalpataru Properties Limited raised Rs. 1,635 crores via listed NCDs issued on May 15, 2026, for objects stated in the Information Memorandum.

10 · Beyond the numbers

What changed beyond the numbers

Reported update

Auditor Review Scope

Statutory auditors KKC & Associates LLP conducted a limited review of the unaudited consolidated financial results for Q1 FY27, noting reliance on other auditors for several subsidiaries and management-certified accounts for certain smaller entities.

11 · Key Q&A

The quarter, answered directly

What does Kalpataru do?

Kalpataru Limited is primarily engaged in the business of real estate development, focusing on the construction and sale of residential units within India.

What is the clearest takeaway from Q1 FY27?

Kalpataru Limited reported consolidated revenue from operations of INR 472.20 crore for the first quarter ended June 30, 2026, alongside other income of INR 22.84 crore, bringing total consolidated income to INR 495.04 crore.

What drove revenue or demand?

Revenue from operations of INR 472.20 crore was derived primarily from the sale of residential units across the company's real estate development portfolio.

What mattered most for margins or profitability?

Cost of sales and other operational expenses stood at INR 389.34 crore, while employee benefits expenses were INR 60.37 crore and other expenses totaled INR 68.35 crore, leading to a negative operating result before other adjustments.

What changed operationally beyond the headline numbers?

During the quarter ended June 30, 2026, subsidiary Kalpataru Properties Limited issued 1,63,500 secured, rated, listed, redeemable non-convertible debentures (NCDs) of face value Rs. 1 Lakh each, aggregating to Rs. 1,635 Crores on a private placement basis, listed on BSE on May 25, 2026.

What are the main pressure points disclosed for the quarter?

The company reported a consolidated net loss after tax of INR 29.04 crore for Q1 FY27, driven by higher operational expenses and finance costs exceeding operating revenue.

12 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.

Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

13 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Execution of Real Estate Projects: Monitor future quarterly releases for progress on residential project execution, booking velocities, and revenue recognition milestones.

  2. 02

    Utilization of Remaining IPO Proceeds: Track the final deployment of the remaining unutilized balances from IPO net proceeds allocated to general corporate purposes and issue expenses.

Learn the metrics

Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

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