Kalpataru Ltd
Founded in 1988, Kalpataru Limited is a real estate development company based in Mumbai, Maharashtra.[1]
- Market Cap ₹ 6,122 Cr.
- Current Price ₹ 297
- High / Low ₹ 458 / 282
- Stock P/E 2,047
- Book Value ₹ 199
- Dividend Yield 0.00 %
- ROCE 6.20 %
- ROE 1.26 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -16.0% over past five years.
- Company has a low return on equity of 3.31% over last 3 years.
- Contingent liabilities of Rs.7,324 Cr.
- Earnings include an other income of Rs.212 Cr.
- Working capital days have increased from 2,162 days to 3,117 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Part of BSE IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 678 | 605 | 613 | 344 | 293 | 283 | 219 | |
| 579 | 547 | 295 | 281 | 202 | 226 | 200 | |
| Operating Profit | 98 | 57 | 318 | 63 | 91 | 57 | 19 |
| OPM % | 14% | 9% | 52% | 18% | 31% | 20% | 9% |
| 184 | 263 | 12 | 328 | 271 | 254 | 212 | |
| Interest | 247 | 277 | 289 | 322 | 212 | 250 | 220 |
| Depreciation | 25 | 22 | 22 | 20 | 19 | 19 | 22 |
| Profit before tax | 10 | 22 | 19 | 49 | 131 | 41 | -11 |
| Tax % | 32% | 28% | 122% | 41% | 38% | 44% | |
| 7 | 16 | -4 | 29 | 82 | 23 | 1 | |
| EPS in Rs | 0.50 | 1.13 | -0.30 | 2.08 | 5.85 | 1.39 | 0.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -16% |
| 3 Years: | -23% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 73% |
| TTM: | -72% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 3% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 140 | 140 | 140 | 140 | 140 | 167 | 206 |
| Reserves | 925 | 942 | 938 | 964 | 972 | 2,408 | 3,888 |
| 2,533 | 2,500 | 2,941 | 2,664 | 2,981 | 2,738 | 2,274 | |
| 392 | 443 | 363 | 391 | 443 | 1,135 | 1,264 | |
| Total Liabilities | 3,990 | 4,024 | 4,382 | 4,158 | 4,536 | 6,448 | 7,632 |
| 338 | 451 | 430 | 411 | 395 | 388 | 386 | |
| CWIP | 114 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 814 | 815 | 98 | 98 | 98 | 101 | 101 |
| 2,724 | 2,758 | 3,855 | 3,649 | 4,044 | 5,959 | 7,144 | |
| Total Assets | 3,990 | 4,024 | 4,382 | 4,158 | 4,536 | 6,448 | 7,632 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 222 | 513 | 689 | 237 | 24 | 205 | |
| 64 | -227 | -850 | 420 | -39 | -1,109 | |
| -278 | -329 | 150 | -619 | -3 | 710 | |
| Net Cash Flow | 8 | -42 | -12 | 38 | -18 | -194 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 206 | 178 | 162 | 161 | 162 | 140 |
| Inventory Days | 1,080 | 248 | 496 | 626 | ||
| Days Payable | 65 | 37 | 71 | 62 | ||
| Cash Conversion Cycle | 1,221 | 389 | 587 | 725 | 162 | 140 |
| Working Capital Days | 1,212 | 760 | 793 | 1,407 | 1,963 | 3,117 |
| ROCE % | 8% | 8% | 10% | 9% | 6% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Area Sold msf |
|
|||
| Average Realization INR per sq ft |
||||
| Pre-Sales Value INR Cr |
||||
| Sales Collections INR Cr |
||||
| Units Sold Nos |
||||
| Ongoing Projects Developable Area msf |
||||
| Completed Projects Area Deliveries msf |
||||
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
15h - Signed Andheri West redevelopment (~3 acres, ~0.4 msf carpet), GDV ~₹1,400 crore on March 12, 2026.
-
Intimation Of Issue Of Corporate Guarantee To Subsidiary
16h - KRVPL issued corporate guarantee on Mar 12, 2026 for up to Rs 90 crore RTL to ICICI Bank, 60-month tenor.
-
Intimation Regarding Receipt Of An Order Passed By Joint Commissioner Of The State Tax (Appeals - VIII) To Ananta Landmarks Private Limited, A Wholly-Owned Subsidiary Of The Company
24 Feb - Ananta Landmarks received Feb 23, 2026 GST demand Rs.3,32,93,874 for FY2019-20; appeal planned.
-
Disclosure With Regard To Outcome Of Tax Litigations Of The Subsidiary - Ananta Landmarks Private Limited
17 Feb - Ananta Landmarks received Feb 16, 2026 GST demands Rs14,18,18,852 and Rs30,67,729; appeals to be filed.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
12 Feb - Kalpataru participated in Axis Capital Advantage India investor conference on Feb 12, 2026; no UPSI shared.
Concalls
-
Feb 2026Transcript PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025TranscriptAI SummaryPPT
-
Jul 2025TranscriptAI SummaryPPT
Integrated Real Estate Player[1]
They are an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land, planning, designing, execution, sales, and marketing of projects.