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Kalpataru Ltd confident of meeting ₹6,500cr pre-sales target for FY27 as home demand remains strong, says CFO
Kalpataru Ltd confident of meeting ₹6,500cr pre-sales target for FY27 as home demand remains strong, says CFO
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New Delhi, Nov 8 (PTI) Realty firm Kalpataru Ltd will achieve its ₹6,500 crore pre-sales target this fiscal, a 23 per cent rise from the previous year, as housing demand remains strong for established players, a senior company official said.
In an interview with PTI, Mumbai-based Kalpataru Ltd CFO Chandrashekhar Joglekar said the company's sales bookings or pre-sales stood flat at nearly ₹2,600 crore in the first half of this fiscal.
He noted that housing demand remains "intact" despite concerns about a possible slowdown due to global economic uncertainties.
"We have given guidance for pre-sales at ₹6,500 crore. We have already achieved 40 per cent in the first half of this fiscal. We will be achieving 60 per cent in the second half of this fiscal," Joglekar said.
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During the first half of this fiscal, the company's sales bookings stood at ₹2,587 crore against ₹2,577 crore in the year-ago period.
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Joglekar said the housing sales are generally high in the second half because of festive demand and expressed confidence that the company would comfortably achieve the target.
During the 2025-26 fiscal, Kalpataru Ltd sales bookings stood at ₹ ₹5,280 crore.
Joglekar said the company has residential units in a price range of ₹1 crore to ₹50 crore. But most of the portfolio is below ₹10 crore, where conversion is faster than for ultra-luxury homes.
He said the company has a strong launch pipeline for the second half of this fiscal.
Joglekar noted that many large projects would get completed over the next 2-3 years, helping the company to recognise revenue in the books of accounts.
Recently, Kalpataru Ltd reported a consolidated net loss of ₹70.67 crore for the quarter ended September. Its net profit stood at ₹4.96 crore in the same period last year.
Total income fell to ₹479.37 crore in the second quarter of this fiscal year from ₹815.66 crore in the corresponding period of the preceding year, according to a regulatory filing.
Mumbai-based Kalpataru Ltd has a strong presence in Mumbai Metropolitan Region and Pune markets.
