Kalpataru Ltd Posts Net Loss of Rs 100.74 Crore in FY24, Aims to Raise Rs 1,590 Crore via IPO
Real estate firm Kalpataru Ltd has reported a consolidated net loss of Rs 100.74 crore in FY24, despite filing for an IPO to raise up to Rs 1,590 crore. The company has a portfolio of 40 ongoing, forthcoming, and planned projects, with a majority located
Kalpataru LtdIpoReal EstateMumbai Metropolitan RegionPuneReal Estate PuneAug 20, 2024
The company's total income also saw a decline, from Rs 3,716.61 crore in FY23 to Rs 2,029.93 crore in FY24. Despite this, Kalpataru Ltd has filed a preliminary document with the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), aiming to raise up to Rs 1,590 crore.
The IPO will comprise a fresh issue of shares, with a face value of Rs 10 each, aggregating up to Rs 1,590 crore. The company plans to use Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.
Kalpataru Ltd is an integrated real estate development company, involved in all key activities associated with real estate development, including land acquisition, planning, designing, execution, sales, and marketing of its projects. The company has a portfolio of 40 ongoing, forthcoming, and planned projects, comprising 49.77 million square feet of area.
While a majority of the company's projects are located in the Mumbai Metropolitan Region (MMR) and Pune, it has two ongoing projects in Hyderabad, Telangana, and Noida, Uttar Pradesh. It also has land banks in Surat, Gujarat; Nagpur, Maharashtra; and Udaipur, Rajasthan.
The company has attributed its losses to the manner in which it recognizes revenue under its accounting policies. Revenue for certain projects is recognized at a
Frequently Asked Questions
What is the net loss reported by Kalpataru Ltd in FY24?
Rs 100.74 crore
How much does Kalpataru Ltd aim to raise via its IPO?
Up to Rs 1,590 crore
What is the main purpose of the IPO?
To repay/prepay certain borrowings
Where are most of Kalpataru Ltd's projects located?
Mumbai Metropolitan Region (MMR) and Pune
When was the Kalpataru group established?
1969
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