Analysts/Institutional Investor Meet/Con. Call Updates

November 02, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot no. C/1, G Block, Listing Operation Department, Bandra Kurla Complex, Bandra (E), 20th Floor, P.J. Towers, Dalal Street, Mumbai - 400 051 Mumbai – 400 001 Maharashtra, India Maharashtra, India NSE Code: KALPATARU BSE Code: 544423 Dear Sir/Madam, Sub: Transcript of Earnings conference call on Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 Ref: Regulation 30 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) This is further to our letter dated October 30, 2026, wherein we had informed the Stock Exchanges regarding the conclusion of the Earnings Conference Call held with analysts and investors on Friday, October 30, 2026 at 10:25 a.m. (IST), in respect of the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026. Please find enclosed the Transcript of the said Earnings Conference Call and the same can be accessed on the website of the Company at Kalpataru | Investor Corner | Transcript . This intimation is also being uploaded on the Company’s website at Kalpataru | Investor Corner. We request you to take the above information on record. Yours faithfully, For Kalpataru Limited Gajendra Mewara Company Secretary & Compliance Officer KALPATARU LIMITED CIN No.: L45200MH1988PLC050144 91, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (E), Mumbai 400 055, India. Tel +91 22 3064 5000 ◼ www.kalpataru.com ◼ investor.cs@kalpataru.com Kalpataru Limited Q2 & H1 FY27 Earnings Conference Call October 30, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Kalpataru Limited's Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Advait Phatarfod, Head - Investor Relations at Kalpataru Limited. Thank you, and over to you, sir. Advait Phatarfod: Thank you, Michelle. Good morning, ladies and gentlemen. Welcome to Q2 and H1 FY27 results call of Kalpataru Limited. We have with us today the Management of Kalpataru Limited, represented by Mr. Parag Munot – Managing Director, Mr. Narendra Lodha – Executive Director, and Mr. Chandrashekhar Joglekar – Director of Finance and CFO. I would like to state that any forward-looking statements made during the discussion today are based on our current expectations, assumptions, and projections about future events, and are subject to risks and uncertainties beyond our control. With that, I will now hand over the call to Mr. Munot for the opening remarks, post which we shall open the floor for Q&A. Over to you, sir. Parag Munot: Thank you, Advait. Good morning, everyone, and a warm welcome to all of you. The macro environment continued to be challenging for a second quarter in a row. Despite an external environment marked by global economic uncertainties, volatile geopolitical developments, and evolving interest rate trajectories, the Indian economy continues to demonstrate resilience underpinned by strong domestic fundamentals. The Mumbai Metropolitan Region remains amongst the most compelling real estate markets in India, benefiting from sustained infrastructure investments, improving connectivity, urban regeneration initiatives, and increasing demand for high-quality residential developments. Consumer preferences continue to shift towards established and execution-focused developers, leading to consolidation within the sector. Supported by these favourable industry dynamics, Kalpataru continues to execute on its strategy of delivering premium developments in premium and prime locations while maintaining a disciplined approach towards growth and capital allocation. Now let me walk you through some of the key numbers for Q2 and H1. Pre- sales for Q2 FY27 was INR 1,258 crore, down 5%, while it was INR 2,587 crore for H1 flat YoY. Sales collection was flat, INR 1,189 crore for Q2, while it was INR 2,554 crore, up 9% YoY for H1. Sales momentum at Kalpataru Park City, Thane, has been very strong. We have recorded ~ INR 420 crore of pre-sales during H1 so far, and walk-in interest remains high with healthy conversion. On a YoY basis, our walk-ins are up by 25%. Conversion rate has almost doubled, resulting into a pre-sales growth of 130% at Kalpataru Park City. H1 FY26 was INR 167 crore, and now our H1 FY27 was INR 420 crore. With more than 2,000 families already residing on site, we anticipate welcoming over 3,000 families by the end of next year, increasing resident occupancy and key retail outlets turning operational during higher walk-ins and better conversion. With this, we anticipate H2 to be better than H1. At Kalpataru One in Worli, we continue to see very strong customer interest in the product. The demand is building up, and we have started seeing conversion improve in this festive season. This is a best-in-class product, and we remain confident on its long-term performance. Coming to new launches. We launched our premium project, Kalpataru Elaara, in Bangur Nagar, Goregaon West, during the quarter, which received very good response. The projects feature 2, 3, and 4-bedroom residences, along with 25+ curated lifestyle amenities. This project was launched towards mid-September, and the response we have received has been encouraging, with 30% of the project sold. This is on the back of another strong launch that we did in Q1 for Kalpataru Vian, Hrushikesh, Lokhandwala, which had continued its sales momentum in this quarter as well. We have a strong pipeline of launches for the remaining year, and we hope to carry this momentum into other project phases when we launch them. Turning to project completions. During the quarter, we received occupation certificate for 1.58 million square feet across ~1,500 units. For H1 FY27, we have delivered over 2,200 units, adding up to 2.37 million square feet, continuing our strong track record of project execution and handovers. We are well on track to deliver on a target of 5.5 million square feet of completion this year. With that, I would now like to hand over the call to Chandrashekhar Joglekar for a detailed update on our financial performance. Over to you, Chandrashekhar. Chandrashekhar Joglekar: Thank you, Parag. Good morning, everyone, and welcome to our Q2 and H1 FY27 Earnings Call. Let me start with the financial update: During Q2, we reported revenue from operations of INR 437 crore. Our adjusted EBITDA during the quarter was INR 73 crore, with the margins of 16.6%. On the profitability front, we reported a loss of INR 71 crore for the quarter. During H1, on the other hand, our revenue came in at INR 909 crore. Our adjusted EBITDA was INR 167 crore, with margin of 18.4%. On the profitability, we reported a loss of INR 100 crore. The company follows project completion method, as has been said earlier, for its revenue recognition for the most of its projects. During H2 of FY27, we will be completing few of our projects, which will lead to its first-time revenue recognition of the corresponding revenue and profits. Turning to our balance sheet. As of 30th September 2026, our gross debt stood at INR 9,179 crore, while cash and cash equivalents were INR 856 crore, resulting into net debt of INR 8,323 crore. Consequently, our net debt-to-equity ratio stands at 2.1x. Our gross debt was flat quarter-over-quarter, while net debt went up slightly because of consumption of the working capital cash balances. H1 FY27 has been steady for us. For remainder of the fiscal year FY27, our focus is clear - to accelerate on the pre-sales. We do have a good pipelin [Showing first 8,000 characters — download PDF for full document]