FY26 Pre-sales Guidance Cut
Full-year pre-sales now expected approximately 20-22% below initial guidance due to regulatory delays affecting project launches.
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Kalpataru · forward-looking guidance across the available source record.
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FY26 Collections Target Reduced
Collections expected roughly 10% below original target, with corresponding impact on net debt levels.
Net Debt Year-End Guidance
Net debt expected at approximately ₹8,000 crore by March 2026, higher by ₹600-700 crore versus original ₹7,300 crore guidance.
FY27-28 Launch Pipeline
Approximately 9 million sq ft of projects to be launched in FY27-28, mostly in MMR and Pune markets.
FY27 delivery target of ~5.5 msf
Management guided for approximately 5.5 million square feet of project completions in FY27, providing clear cash flow visibility.
New launches of 5 msf with GDV ₹7,800 crore
Planned launches in FY27 totaling 5 million square feet, with GDV of ₹7,800 crore, spread across H1 and H2.
Net debt-to-equity ratio to be lower than 2x in FY27
Management expects net debt-to-equity to improve from 2x, with absolute net debt not increasing and potentially reducing marginally.
Refinancing of ~₹1,300 crore in coming quarter
Plans to refinance another ₹1,300 crore of debt, continuing the strategy that reduced blended cost by 120 bps.