Kalpataru Ltd Sees Surge in Sales Bookings Despite Net Losses

Kalpataru Ltd reports an 83% rise in sales bookings to Rs 1,249 crore for Q1, despite a consolidated net loss of Rs 49.42 crore. Sales volume declined, but average realisation doubled, contributing to higher revenue. The firm, a newly-listed stock, is a prominent real estate developer.

Kalpataru Ltd, a leading player in the real estate sector, has announced a significant 83% increase in its sales bookings, reaching Rs 1,249 crore in the first quarter of the current fiscal year. This growth is mainly attributed to higher average realisation rates.

Despite this surge in sales, the company faced a consolidated net loss of Rs 49.42 crore during the same period. Compared to the previous year, its sales bookings volume saw a decrease, dropping to 0.56 million sq ft from 0.61 million sq ft, while the average sales realisation markedly increased to Rs 22,476 per square foot.

Kalpataru Ltd, which has recently become a publicly listed entity, experienced a dip in total income to Rs 456.78 crore, down from Rs 544.67 crore last year. The company remains a key real estate developer in the nation despite these financial challenges.

(With inputs from agencies.)