KALPATARUConsumer Discretionary

Kalpataru Limited

Residential, Commercial Projects · ISIN INE227J01012 · BSE 544423 · NSE EQ · FV ₹10
Last price
₹241
+2.14%today
What this company does

Kalpataru Limited operates in Residential, Commercial Projects, part of the Consumer Discretionary sector. It booked ₹437 cr of revenue in its latest quarter (Q2 FY27) and kept -14.8% of sales as profit.

42out of 100
Equitytale Health Score
Strained

Healthier than 42% of companies in Consumer Discretionary, on the 5 of 6 measures we could read for it. Each measure is ranked against the 328–428 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
26

At close. Not part of the score.

Profitability & returns9

How much profit it earns on the money it employs

Balance sheet10

How much it owes, and whether earnings cover the interest

Cash quality91

Whether reported profit actually arrives as cash

Valuation58

What today's price implies, against our models or its peers

Governance & risk88

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Promoters hold 81%
✓ No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -14.8% net margin
! Sales down 45% vs last year
! Low -6.4% return on equity
! Carries high debt (D/E 2.3)

What if I invest in KALPATARU?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹241▲ +2.14%
latest close · 2026-11-04
52-wk low ₹23574 sessions so far52-wk high ₹315
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio1.23Moderate
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-6.4%Loss
WeakFairStrong ▸15%
Return on capital-4.3%Loss
WeakFairStrong
Net margin-14.8%Loss
ThinDecentStrong
EBITDA margin-13.9%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity2.31High
LowModerateHigh ▸1
Interest cover-5.8×Risky
RiskyOkayStrong ▸5×
Current ratio1.44Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹4,959 cr
Book value
₹196
EPS
₹-3.14
latest quarter
Net debt
₹9,035 cr
owes more than its cash
Enterprise value
₹13,994 cr
EBITDA
₹-243 cr
annualised
EBIT
₹-290 cr
annualised
Operating margin
-16.6%
Return on assets
-1.4%
Earnings yield
—
P/S
2.84
Sales / share
₹84.9
Tax rate
—
Face value
₹10
Shares
20.6 cr
Working capital
₹5,254 cr
Current assets
₹17,247 cr
Current liabilities
₹11,993 cr
Delivery %
51.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹23–₹23, midpoint ₹23

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹437 cr
Other Income₹42 cr
Total Income₹479 cr
Cost of Materials₹388 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹65 cr
Finance Costs₹12 cr
Depreciation & Amortisation₹12 cr
Other Expenses₹86 cr
Total Expenses₹564 cr
Profit before Tax₹-85 cr
Tax Expense₹-8 cr
Share of JV / Associates₹6 cr
Net Profit₹-71 cr
Net margin on total income-14.7%
Where the money goes · Q2 FY27
% of total spend
Materials + stock-in-trade₹388 cr68.8%
Employee benefit expense₹65 cr11.6%
Finance costs₹12 cr2.2%
Depreciation & amortisation₹12 cr2.1%
Other expenses₹86 cr15.3%
Total income ₹479 cr

The company made a net loss of ₹71 cr this quarter — income covered only ₹85 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,694 cr472 cr437 cr
Total income1,729 cr495 cr479 cr
Expenses1,501 cr549 cr564 cr
Profit before tax228 cr-54 cr-85 cr
Tax33 cr-6 cr-8 cr
Net profit (owners' share)200 cr-27 cr-65 cr
Net margin (owners' share, on revenue)11.8%-5.6%-14.8%
EPS (₹)10.19-1.29-3.14
YoY (latest quarter): total income -41.2% · net profit —
Balance sheet & cash flow · as of Sep 2026
High debt
Total assets
₹18,708 cr
Shareholder equity
₹4,027 cr
parent shareholders
Total debt
₹9,179 cr
Cash
₹144 cr
Cash flow · H1 FY27
Operating
₹183 cr
Investing
₹252 cr
Financing
₹-401 cr
Peer comparison
Residential, Commercial Projects · by market value
CompanyPriceMarket capP/E
DLF Limited₹709₹1.75 L cr33.8
Aditya Birla Real Estate Limited₹1,036₹1.27 L cr34.5
Lodha Developers Limited₹1,061₹1.06 L cr26.2
The Phoenix Mills Limited₹2,049₹73,277 cr56.2
Prestige Estates Projects Limited₹1,537₹66,199 cr70.1
Oberoi Realty Limited₹1,677₹60,976 cr20.0
Godrej Properties Limited₹1,670₹47,434 cr81.5
Brigade Enterprises Limited₹527₹17,189 cr22.2
Anant Raj Limited₹444₹15,967 cr25.4
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-09-30
No pledge
Promoter
81.3%
FII / Foreign
5.9%
DII / Domestic
7.9%
Retail / others
4.8%
Smart-money activity
Bulk / block deals
SoldGSS OPPORTUNITIES INVESTMENT I VCC · NSE48.33 L @ ₹385.1511 May 26
BoughtGSS INDIA OPPORTUNITIES AIF -SCHEME I · NSE48.33 L @ ₹385.1511 May 26
SoldGSS OPPORTUNITIES INVESTMENT I VCC · NSE48.33 L @ ₹385.1511 May 26
Stake changes
BoughtGIC Private Limited (GIC) on account of Government of Singapore (GOS)→ 3.88% · 36,6903 Sep 25
Boughtthe Monetary Authority of Singapore→ 1.12% · 10,6523 Sep 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 1 Feb 2026
See the official result
1
Approval of Material Related Party Transaction(s) proposed to be entered into between the Company, Kalpataru Properties (Thane) Private Limited, a wholly owned subsidiary and Agile Real Estate Dev Private Limited, a subsidiary of the Company
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.78 cr votes for, 98,213 against · 0% of mutual funds and other big investors said no
2
Approval of Material Related Party Transaction(s) between the Company and Agile Real Estate Dev Private Limited, a subsidiary of the Company
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.78 cr votes for, 98,290 against · 0% of mutual funds and other big investors said no
3
Approval of Material Related Party Transaction(s) between the Company and Prime Properties Private Limited, Arena Enviro Farms Private Limited, Aseem Properties LLP, Marck Stationery Manufacturing LLP, (“Promoter Group Entities”), Mr. Parag M. Munot, Promoter and Managing Director of the Company
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.78 cr votes for, 98,298 against · 0% of mutual funds and other big investors said no
4
Approval of Material Related Party Transaction(s) between the Company and Agile Real Estate Private Limited, a subsidiary of the Company
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
2.78 cr votes for, 98,172 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 162 named members
owning 81.3% between them · as of 2026-09-30
Mofatraj Pukhraj Munot17.63%
Parag Mofatraj Munot9.86%
Kalpataru Constructions Private Limited8.97%
Appropriate Developers Private Limited6.77%
Flex O Poly Pvt Ltd6.65%
Mrigashish Investment And Trading Company Pvt ltd6.65%
Shouri Investment And Trading Company Pvt Ltd6.65%
Mrigashish Constructions Pvt Ltd6.51%
Business done with them
FY2026 · 26 of the group
The company paid ₹5,779 cr to companies in the promoter group last year — about 168.2% of its ₹3,436 cr revenue and received ₹2,818 cr back from them.
Parag Mofatraj Munot
Transfers Under Finance Agreements To Entity · Ref Table
also owns 9.86% of the company
₹3,450 cr
company paid
Parag Mofatraj Munot
Transfers Under Finance Agreements From Entity · Ref Table
also owns 9.86% of the company
₹895 cr
company received
Kalpataru Constructions Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
also owns 8.97% of the company
₹774 cr
company received
P K Velu & Company Private limited
Transfers Under Finance Agreements To Entity · Ref Table
₹750 cr
company paid
Sycamore Real Estate Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹743 cr
company paid
Sycamore Real Estate Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹413 cr
company received
K C Holdings Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹255 cr
company received
Astrum Developments Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹222 cr
company paid
Neo Pharma Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹167 cr
company received
Kalpataru Constructions Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
also owns 8.97% of the company
₹161 cr
company paid
P K Velu & Company Private limited
Transfers Under Finance Agreements From Entity · Ref Table
₹116 cr
company received
Neo Pharma Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹102 cr
company paid
K C Holdings Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹101 cr
company paid
Astrum Developments Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹90 cr
company received
Parag Mofatraj Munot
Bought goods from them · Ref Table
also owns 9.86% of the company
₹80 cr
company paid
Klassik Vinyl Products LLP
Transfers Under Finance Agreements To Entity · Ref Table
₹36 cr
company paid
Klassik Vinyl Products LLP
Transfers Under Finance Agreements From Entity · Ref Table
₹30 cr
company received
Kalpataru Urbanscape LLP
Transfers Under Finance Agreements From Entity · Ref Table
₹27 cr
company received
Sycamore Real Estate Private Limited
Other payments to them · Ref Table
₹25 cr
company paid
Arena Enviro Farms Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹24 cr
company received
Kalpataru Property Ventures LLP
Transfers Under Finance Agreements From Entity · Ref Table
₹21 cr
company received
Kalpataru Urbanscape LLP
Transfers Under Finance Agreements To Entity · Ref Table
₹20 cr
company paid
Neo Pharma Private Limited
Bought goods from them · Ref Table
₹17 cr
company paid
Neo Pharma Private Limited
Other payments to them · Ref Table
₹12 cr
company paid
Sycamore Real Estate Private Limited
Bought goods from them · Ref Table
₹10 cr
company paid
Arena Enviro Farms Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹7 cr
company paid
K C Holdings Private Limited
Other payments to them · Ref Table
₹6 cr
company paid
Astrum Developments Private Limited
Other payments to them · Ref Table
₹6 cr
company paid
Argos International Marketing Private Limited
Transfers Under Finance Agreements To Entity · Ref Table
₹5 cr
company paid
Kalpataru Constructions Private Limited
Other payments to them · Ref Table
also owns 8.97% of the company
₹5 cr
company paid
Aseem Ventures LLP
Transfers Under Finance Agreements To Entity · Ref Table
₹5 cr
company paid
Parag Mofatraj Munot
Other payments to them · Ref Table
also owns 9.86% of the company
₹4 cr
company paid
Kalpataru Urbanscape LLP
Other payments to them · Ref Table
₹4 cr
company paid
Arena Enviro Farms Private Limited
Other payments to them · Ref Table
₹2 cr
company paid
Arena Enviro Farms Private Limited
Sold goods to them · Ref Table
₹2 cr
company received
Argos Arkaya Power Solutions LLP
Bought goods from them · Ref Table
₹2 cr
company paid
Neo Pharma Private Limited
Other income from them · Ref Table
₹1 cr
company received
Sycamore Agro Farms Private Limited
Other payments to them · Ref Table
₹87 L
company paid
P K Velu & Company Private limited
Other payments to them · Ref Table
₹85 L
company paid
Argos International Marketing Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹75 L
company received
Sycamore orchards Private Limited
Other payments to them · Ref Table
₹69 L
company paid
Klassik Vinyl Products LLP
Other payments to them · Ref Table
₹69 L
company paid
Kanani Developers LLP
Other payments to them · Ref Table
₹69 L
company paid
Klassik Vinyl Products LLP
Other income from them · Ref Table
₹49 L
company received
Corporate Stationery Private Limited
Other payments to them · RefTable
₹33 L
company paid
Kalpataru Energy ( India ) LLP
Transfers Under Finance Agreements From Entity · RefTable
₹31 L
company received
Kalpataru Business Solutions Private Limited
Transfers Under Finance Agreements From Entity · Ref Table
₹31 L
company received
Aseem Properties LLP
Transfers Under Finance Agreements From Entity · RefTable
₹31 L
company received
Kalpataru Viniyog LLP
Transfers Under Finance Agreements From Entity · RefTable
₹31 L
company received
Kalpataru Builders (Pune)
Bought goods from them · RefTable
₹31 L
company paid
Kalpataru Property Ventures LLP
Other income from them · Ref Table
₹26 L
company received
Kalpataru Business Solutions Private Limited
Other income from them · Ref Table
₹25 L
company received
Sudha Trust Sudha Trust
Other income from them · RefTable
₹24 L
company received
Marck Stationery Manufacturing LLP
Transfers Under Finance Agreements From Entity · RefTable
₹15 L
company received
Argos Arkaya Power Solutions LLP
Transfers Under Finance Agreements To Entity · Ref Table
₹15 L
company paid
Hedavkar Mechanical Works LLP
Transfers Under Finance Agreements From Entity · RefTable
₹15 L
company received
Argos International Marketing Private Limited
Other income from them · Ref Table
₹9 L
company received
Neo Pharma Private Limited
Sold goods to them · Ref Table
₹7 L
company received
Astrum Developments Private Limited
Sold goods to them · Ref Table
₹4 L
company received
Aseem Ventures LLP
Other payments to them · Ref Table
₹3 L
company paid
Astrum Developments Private Limited
Bought goods from them · Ref Table
₹2 L
company paid
Sycamore Real Estate Private Limited
Sold goods to them · Ref Table
₹1 L
company received

The company also transacted with 29 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹1,590 cr raised in Jun 2025 by selling shares to the public

As of Sep 2026, the company says it has spent 99% of what it set aside, leaving ₹14 cr still to be spent. CARE RATINGS LIMITED watches the spending on the exchange’s behalf.

Repayment / pre-payment, in full or in part, of outstanding borrowings availed by the Company
100%
₹333 cr of ₹333 cr
Repayment / pre-payment, in full or in part, of outstanding borrowings availed by Subsidiaries of Kalpataru Limited
100%
₹859 cr of ₹859 cr
General corporate purposes
originally ₹311 cr
budget changed
100%
₹325 cr of ₹325 cr
Issue expenses
84%
₹72 cr of ₹86 cr
₹1,590 cr raised in Jun 2025 by selling shares to the public

As of Jun 2025, the company says it has spent 31% of what it set aside, leaving ₹1,090 cr still to be spent. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment/ prepayment, in full or in part, of outstanding borrowings availed by: 1) Kalpataru Limited (‘the Company’); and 2) Subsidiaries of the Company
42%
₹500 cr of ₹1,193 cr
General corporate purpose
0%
₹0 cr of ₹311 cr
Issue expenses
0%
₹0 cr of ₹86 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.