Kalpataru Limited — Q4 FY26

Kalpataru Limited Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=2IMLIrGdzNQ Published: 15 hours ago

0:00 Ladies and gentlemen, good day and welcome to the Kalpatru Limited's Q4 FI26 earnings conference call. As a 0:09 9 seconds reminder, all parties lines will be in the listenonly mode and there will be an opportunity for you to ask questions after the management's opening remarks. 0:18 18 seconds Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchstone phone. I now hand the 0:27 27 seconds conference over to Mr. Adrespur, head investor relations at Kalpatru Limited. 0:33 33 seconds Thank you and over to you sir. 0:37 37 seconds Thank you Michelle. Good morning ladies and gentlemen. Welcome to Q4 and FY26 results call of Kalpatu Limited. We have 0:46 46 seconds with us today the management of Kalpataru Limited represented by Mr. Parag Manut managing director, Mr. 0:53 53 seconds Narendra Loda, executive director and Mr. Mr. Chandra Shakhar Zogar, Director of Finance and CFO. 1:00 1 minute I would like to state that any forward-looking statements made during the discussion today are based on our current expectations, assumptions, and 1:08 1 minute, 8 seconds projections about future events and are subject to risks and uncertainties beyond our control. 1:16 1 minute, 16 seconds With that, I will now hand over the call to Mr. Monote for the opening remarks, post which we shall open the floor for Q&A. Over to you, sir. 1:26 1 minute, 26 seconds Thank you Adit. Good morning everyone and a warm welcome to all of you. It's a privilege to report the that fiscal year 1:35 1 minute, 35 seconds 2026 has been a landmark year for Kalpatu Limited representing the strongest operational performance in our 1:42 1 minute, 42 seconds company's history. Coincidentally, it is also the year in which we got listed. 1:49 1 minute, 49 seconds Our momentum peaked in the fourth quarter where we achieved our highest ever quarterly pre-sales of 1,833 1:57 1 minute, 57 seconds crores. While this reflects a steady 6% year-on-year increase, the standout highlight is our cash flow efficiency. 2:07 2 minutes, 7 seconds Collections for quarter 4 reached a record 1,487 crores, a robust 41% growth that underscores our execution capabilities. 2:21 2 minutes, 21 seconds Looking at the full year, the numbers tell a story of consistent highquality scaling. 2:29 2 minutes, 29 seconds FYI26 pre-sale reached 5,280 crores up 17% while collections grew by 2:37 2 minutes, 37 seconds 34% to 4,960 crores. 2:42 2 minutes, 42 seconds The consistency of our performance is best reflected in our multi-year trends. 2:50 2 minutes, 50 seconds Our 4-year Psales compounded annual growth rate stands at 26%. 2:56 2 minutes, 56 seconds While our collections compounded annual growth rate of 33% continues to outpace sales growth 3:04 3 minutes, 4 seconds reflecting our deep commitment to delivery and operational excellence. 3:11 3 minutes, 11 seconds Turning to our portfolio, our portfolio comprises 31 projects with a total salailable area of 43 million 3:20 3 minutes, 20 seconds square ft. Of these 20 are ongoing projects with a salailable area of 3:26 3 minutes, 26 seconds approximately 24 million square ft of which about 11.4 million square ft has already been sold. 3:35 3 minutes, 35 seconds These ongoing projects represent a gross development value of nearly 36,000 3:42 3 minutes, 42 seconds crores translating into total future inflows of approximately 27,000 crores. 3:49 3 minutes, 49 seconds This includes both balance collections from sold inventory as well as the expected value of unsold units. 4:00 4 minutes The MMR region continues to be our largest contributor with 15 projects accounting for 23,500 crores of total expected inflows. 4:12 4 minutes, 12 seconds Una and other markets together contribute around 3,500 crores. 4:20 4 minutes, 20 seconds In addition, our ready to move in projects and forthcoming launches together at approximately 30,000 crores. 4:27 4 minutes, 27 seconds So total future inflows across the portfolio is about 57,000 crores. 4:34 4 minutes, 34 seconds This strong visibility provides us with a solid foundation for sustained growth, healthy cash flows and future balance sheet strengthening going forward. 4:46 4 minutes, 46 seconds Now I will talk about our new launches. 4:49 4 minutes, 49 seconds During FI 26 we launched four towers phases in three projects nearly namely 4:56 4 minutes, 56 seconds Eternia at Kalpatu Park city Kalpatu area and Shishi Namura and launched one new project Estella at Kalpatru Park 5:04 5 minutes, 4 seconds city together totaling to 1.8 8 million square ft salable area. 5:11 5 minutes, 11 seconds A few projects which were earlier in visarchs to be launched in FI26 have now spilled over to H1 FI27 5:20 5 minutes, 20 seconds and will be launched in due course post receipt of regulatory approvals for FI27. 5:28 5 minutes, 28 seconds We have an exciting pipeline of new launches of 5 million square ft amounting to a total GDV of 7,800 crores. 5:38 5 minutes, 38 seconds Turning to project completions, quarter 4 was a period of intense delivery. We secured occupation 5:45 5 minutes, 45 seconds certificates for approximately 1.37 million square ft spanning six towers at 5:52 5 minutes, 52 seconds Kalpatu Van, one tower at Kalpatu Elitus and one phase at Kalpatu area. 6:01 6 minutes, 1 second This capped off an extraordinary year for our execution team. In FI26, we completed 5.15 million square ft, nearly 6:10 6 minutes, 10 seconds double of our delivery volume from the previous years. 6:15 6 minutes, 15 seconds More importantly, we received occupation certificate for 3,000 units, a testament to our commitment to project timelines and and customer delivery. 6:28 6 minutes, 28 seconds Looking ahead, we intend to maintain this space. We have a target of delivering roughly 5.5 million square ft in FI27. 6:39 6 minutes, 39 seconds This consistent delivery pipeline provides us with exceptional visibility into our operating cash flows and sets a clear path for profit recognition in the coming quarters. 6:51 6 minutes, 51 seconds On the business development front, I am pleased to share that we have secured a development agreement for the redevelopment of Shrimha Lakshmi 7:00 7 minutes Cooperative Housing Society. This project is situated on a prime 3acre land parcel just off Vira Desai Road in 7:07 7 minutes, 7 seconds Anderi West, one of Mumbai's most sought-after residential and commercial hubs. With the potential carpet area of 7:14 7 minutes, 14 seconds approximately 04 million square ft, we estimate the gross development value to be in the region of 1,400 crores. 7:25 7 minutes, 25 seconds I want to emphasize that our approach to business development remains highly disciplined. 7:31 7 minutes, 31 seconds We are not chasing volume for the sake of scale. Instead, we are selectively pursuing high potential projects like this one that align strictly with our 7:40 7 minutes, 40 seconds internal return thresholds and brand positioning. 7:45 7 minutes, 45 seconds With that, I would now like to hand over the call to Sundra Shaker Zaker, our CFO for the detailed update on our financial performance. 7:54 7 minutes, 54 seconds Over you CJ. Thank you, Parat. Good morning everyone and welcome to our Q4 FY26 earnings call. 8:04 8 minutes, 4 seconds Let me start with the financial update for Q4 and FYI26 both. In the fourth quarter, we reported revenue from 8:13 8 minutes, 13 seconds operations of rupees 1,694 crores, a nearly three-fold increase from the 61 cr reported in the same period last year. 8:26 8 minutes, 26 seconds This toppled our full year revenue to 3,436 cr representing a 54% yearon-year growth. 8:37 8 minutes, 37 seconds This surge is in revenue uh uh flowed directly to our bottom line. Also our adjusted EITA for Q4 8:47 8 minutes, 47 seconds reached 612 cr with margin expecting expanding to a very healthy 36% for the 8:56 8 minutes, 56 seconds full year. Adjusted EITA stood at 1,022 cr reflecting a 30% margin. On the PAT 9:04 9 minutes, 4 seconds front, we recorded a profit of 194 cr for the quarter, bringing our fullear 9:12 9 minutes, 12 seconds PAT to 80 cr. It is important to contextualize these results with our accounting system. 9:20 9 minutes, 20 seconds We have shared previously we are operating under a dual track revenue recognition method while seven of our 9:28 9 minutes, 28 seconds ongoing projects continue under the percentage of completion method which is PCM. 9:34 9 minutes, 34 seconds However, 13 newer projects especially commenced after April 2022 follow the project completion method. 9:44 9 minutes, 44 seconds The robust Q4 performance is directly uh linked to 9:51 9 minutes, 51 seconds these newer projects reaching the handover stage and we expect this deliveryled revenue recognition to be a 9:58 9 minutes, 58 seconds recurring phenomena in our financial narrative going forward. 10:03 10 minutes, 3 seconds A significant driver of our Q4 financial performance was the successful execution 10:10 10 minutes, 10 seconds of of our delivery of milestones during the quarter. We received occupation certificates for six towers 10:18 10 minutes, 18 seconds at Kalpatru Vant at JVLR, one tower of Kalpatru Elitus and a key phase of 10:26 10 minutes, 26 seconds Kalpatu area together totaling to 1.37 million square ft. In line with the guidance we 10:33 10 minutes, 33 seconds provided last quarter, the full revenue and profitability for these specific developments have now been recognized in our profit and loss account in Q4. 10:45 10 minutes, 45 seconds Looking ahead, we see similar momentum building across our premium portfolios. 10:51 10 minutes, 51 seconds Projects such as Kalpatru 1 in Wali, Amare in Juu, Adway in Borivi and our South Mumbai landmarks Kalput Pway and 11:00 11 minutes Kalpatu Ajuru continue to see healthy sales velocity. While these developments are also under the project completion 11:08 11 minutes, 8 seconds method, the sustained sales demand uh today provides us with a high margin revenue backlog for the years to come. 11:17 11 minutes, 17 seconds Turning to our balance sheet position as of March 31st 2026 our gross debt 11:25 11 minutes, 25 seconds stood at rupes 9,168 crores while cash and cash equivalence 11:31 11 minutes, 31 seconds were 1,62 crores resulting in a net debt of 8,16 crores. Consequently, our net 11:38 11 minutes, 38 seconds debt to equity ratio stands as of March 2026 at two times. 11:45 11 minutes, 45 seconds As several of our projects start uh start getting OC's, occupation certificates, we expect a significant influx of cash and profit recognition. 11:56 11 minutes, 56 seconds This will allow us to naturally and organically and systematically deliver improving our net debt to equity ratio 12:05 12 minutes, 5 seconds as we transition from a high investment phase to a high realization phase. 12:11 12 minutes, 11 seconds A key pillar of our financial strategy is the continuous optimiz optimization of our borrowing costs. Since our 12:21 12 minutes, 21 seconds listing, we have leveraged uh our strength and strengthened our market position to refinance approximately 3,500 crores of debt. 12:32 12 minutes, 32 seconds This results are tangible. We have achieved an in interest rate delta of three and a half% of these facilities 12:41 12 minutes, 41 seconds leading to a 120 basis points drop in our overall blended cost of debt total 12:48 12 minutes, 48 seconds debt. This optimization uh alone add approximately around rupees 125 cr to our annualized savings 12:57 12 minutes, 57 seconds providing a significant tailwind for our profitability. 13:01 13 minutes, 1 second Looking ahead, we have an active pipeline for further optimization. We expect to refinance another around 10 1,300 crores in the coming quarter. 13:15 13 minutes, 15 seconds For fiscal FY27, our focus is clear to build upon the foundation we established this year. Our 13:23 13 minutes, 23 seconds pipeline for the new year is robust uh supported by strong uh slate of new launches designed to sustain our 13:32 13 minutes, 32 seconds pre-sales trajectory. Furthermore, with approximately 5.5 million square ft 13:40 13 minutes, 40 seconds lined up for completion, we have clear visibility into our cash flows for the next 12 months. Considering the current 13:48 13 minutes, 48 seconds global macroeconomic environment and global conditions as well as our local conditions, we would come back with the 13:57 13 minutes, 57 seconds formal guidance for FY27 at a sub at a subsequent date. 14:03 14 minutes, 3 seconds In closing, I want to reiterate that Kalputuru's operational liquidity is strong. 14:10 14 minutes, 10 seconds Our ongoing projects are fully financially closed and construction uh construction across all the sites all the projects is moving at a full speed. 14:19 14 minutes, 19 seconds We are confident in our execution engine and our ability to deliver long-term value. With that we would be happy to take questions. 14:29 14 minutes, 29 seconds Thank you very much sir. Ladies and gentlemen, we will now begin with the question and answer session. Anyone who wishes to ask questions may please press star and one on their touchroom phone. 14:40 14 minutes, 40 seconds If you wish to withdraw yourself from the question queue, you may press star and two. Participants are requested to use only handsets while asking our 14:48 14 minutes, 48 seconds questions. Ladies and gentlemen, we will wait for a moment while the question queue assembi 15:10 15 minutes, 10 seconds securities. Please go ahead. 15:12 15 minutes, 12 seconds Yeah, good morning everyone. Thank you for the opportunities. Uh so the first question is on our upcoming launches for this year which you have given the 15:19 15 minutes, 19 seconds presentation. So in terms of GDB are we looking to launch this entire thing to bring it to the market or just uh specific phases out of this? If you 15:28 15 minutes, 28 seconds could quantify that and if you could also help us understand how these launches will be phased through the year. Will it be backended in the second 15:36 15 minutes, 36 seconds half or it will be spread equally into the year and out of this whatever inventory you're bringing the market any indicative amount we are percentage we 15:44 15 minutes, 44 seconds are looking to monetize or sell within this US that is the first question 15:58 15 minutes, 58 seconds hello good morning Adv Uh yeah. 16:03 16 minutes, 3 seconds Uh so the these launches are spread across the entire year. Uh well uh in 16:10 16 minutes, 10 seconds the first half also we will be doing about three of the launches and the balance will be approximately in the second half. Uh most of them are in 16:18 16 minutes, 18 seconds total other than kalpatu blossoms which is in puna which may happen in two phases otherwise all will be launched uh 16:25 16 minutes, 25 seconds in one phase. We plan to achieve as we do in our all our launches approximately 16:32 16 minutes, 32 seconds 20 25% in launch we sell and that's the target we have for this year also. 16:39 16 minutes, 39 seconds Okay. So around 2,000 crores at least is what we expect from the launches at least to contribute from uh uh for this year right on the lower end. 16:48 16 minutes, 48 seconds Yes. Yes. Yes. Okay. 16:54 16 minutes, 54 seconds Yeah. Yeah. And sir if you just share with us as of March 26 what is the unsold inventory we have to sell across 17:00 17 minutes all our ongoing projects mean whatever we have launched so far the the value I know you have given in the presentation 17:08 17 minutes, 8 seconds the overall value but uh just whatever so I'm just trying to get at what is the inventory we have to sell going into next year across all our projects. 17:18 17 minutes, 18 seconds So, so the inventory of ongoing projects which we need to sell is out of the balance value unsold inventory which is 17:26 17 minutes, 26 seconds of basic value of unfold inven 14,000 14,000 crores from that we'll be selling from the ongoing of course 17:35 17 minutes, 35 seconds yeah yeah yeah okay so you'll have 14,000 crores which is existing plus 8,000 crores of roughly inventory into 17:42 17 minutes, 42 seconds the market in terms of launches going to next and expected value of unsold inventory sorry expected unsold inventory 22,000 17:50 17 minutes, 50 seconds cr I'm wrong not 14,000 okay that will be okay okay okay plus the 8,000 crores of launches which you have 17:57 17 minutes, 57 seconds intended to bring into the market correct correct okay okay fine so second question if you could I know you said you'll come back 18:04 18 minutes, 4 seconds with guidance but on the debt front or any absolute number or any ratio in terms of where we want to be 12 months 18:12 18 minutes, 12 seconds down the line any indicative number you'd like to share Can you repeat please 18:19 18 minutes, 19 seconds something on the net debt levels right from the 8100 crores so is there any specific target or anything we are 18:28 18 minutes, 28 seconds looking to achieve either in debt equity ratio terms or in absolute terms two months down the line yeah 18:34 18 minutes, 34 seconds for 20 yeah yeah so for FY26 we are at two times and then the net debt is 18:41 18 minutes, 41 seconds around 8,100 crores as we spoke we are also uh looking forward for having some investment to be done in the new 18:49 18 minutes, 49 seconds projects or new BD and we therefore we therefore will be actually having a strategy where we will be actually we 18:58 18 minutes, 58 seconds have some pipeline of new BD getting developed so some amount will be invested over there and but at the same 19:06 19 minutes, 6 seconds time it will be ensured that the net debt level surely doesn't go beyond what it is today as of March 26 or March 27 19:13 19 minutes, 13 seconds it doesn't go up however we would attempt to reduce it marginally at the absolute level but not substantially. So 19:23 19 minutes, 23 seconds our debt to equity ratio for FY27 we will be of course issuing a proper guidance as I mean little later but it will be lower than two uh for sure. 19:35 19 minutes, 35 seconds Okay. Fine. Fine. So, and just one final question again a bookkeeping question for FI26, right? Uh we have the 19:43 19 minutes, 43 seconds collections number. If you could just share for the overall year the construction spend, approval cost and uh interest and tax outgo which we have 19:51 19 minutes, 51 seconds done for the full year. If you could share that please. 19:54 19 minutes, 54 seconds So, so the construction cost for the full year uh for the entire collection 20:01 20 minutes, 1 second was 1,916 crores. as against that our share I mean Kalpatu's share was 1,512 20:08 20 minutes, 8 seconds croresh construction cost so this is year you're saying or for the quarter 20:15 20 minutes, 15 seconds of FY 26 okay so 1 1900 crores is the outpost totally outgo on the construction cost that is 20:23 20 minutes, 23 seconds at the uh full projects all projects at 100% level our data share of kalpatu was 1 1512 crores out of that Yes. Okay. 20:35 20 minutes, 35 seconds Okay. Uh sir and other approval spend and other things. Sir just trying to get at the OCF you have generated for there. 20:42 20 minutes, 42 seconds That is exactly the intent of the question. 20:44 20 minutes, 44 seconds So no I can come straight to the OCF if you want. 20:47 20 minutes, 47 seconds So the OCF generated OCF generated for the full year was 1,500 crores. Okay. 20:55 20 minutes, 55 seconds At the at the 100% share level and at the proportionate it was 1,000 crores. 21:02 21 minutes, 2 seconds 1,250 I agree. 21:05 21 minutes, 5 seconds Okay. Okay. Okay. Fine sir. Okay. So about got that I'll come back in the queue with more questions if I have. Thank you and all the best. 21:12 21 minutes, 12 seconds Thank you. Thank you. Thank you. 21:16 21 minutes, 16 seconds A reminder to all the participants that you may please star and want to ask questions. The next question is from the line of Sumit Kumar from JM Financials. 21:26 21 minutes, 26 seconds Please go ahead. 21:30 21 minutes, 30 seconds Hi uh hi sir. Good morning and thanks for the opportunity. Uh my first question would be on the uh unsold 21:37 21 minutes, 37 seconds inventory under construction inventory of 22,000 crores. uh what would be the uh sort of internal target uh as well as 21:46 21 minutes, 46 seconds guidance as to in how many years we'll be able to monetize that and second uh 21:52 21 minutes, 52 seconds with the OCF of uh 1,000 crores uh what was used in capeex BD and how much was 22:00 22 minutes used to uh bring down debt. So those are my two questions. 22:07 22 minutes, 7 seconds So uh uh uh good morning SUV. So basically out of the OCF 22:14 22 minutes, 14 seconds this OCF of 1,2 crores which I mentioned of the kalpatu proa share in the entire portfolio includes around 280 crores 22:23 22 minutes, 23 seconds which was spent for the projects uh which were uh newly acquired as of April 25. 22:30 22 minutes, 30 seconds So therefore typically without considering that 280 crores the OCF stands increased to 1282 crores. From 22:39 22 minutes, 39 seconds that we have paid 280 crores as I said for the business development of the already acquired projects during FY2526 22:47 22 minutes, 47 seconds and uh from there uh the the interest payouts happened because this is OCF and 22:54 22 minutes, 54 seconds from there the tax payouts happened and therefore the debt levels uh which are currently at 8,100 crores uh that is 23:03 23 minutes, 3 seconds after the repayment of 1200 crores of the debt which was done over a period of uh you know uh last 9 months. 23:13 23 minutes, 13 seconds Sure sir. And on the target to monetize the 20,000 crores uh inventory uh what is the timeline that we should assume? 23:24 23 minutes, 24 seconds So uh what will happen it's a it's always a overlapping situation. This 22,000 inventory will get added just we 23:31 23 minutes, 31 seconds spoke a while ago by around 7 to 8,000 crores during the year itself. So that will take it uh to around 30,000 crores. 23:39 23 minutes, 39 seconds So this this entire 30,000 crores will get liquidated most part of it over a period of next four to five years 23:46 23 minutes, 46 seconds something will remain for for six years actually. 23:51 23 minutes, 51 seconds Okay. So just a followup if I may then uh any uh sort of guidance that you can 23:58 23 minutes, 58 seconds give on the collection number for next year basis this sumit as I said earlier we'll be coming 24:05 24 minutes, 5 seconds with the guidance to the market uh we'll have to little wait and watch uh the situations around and then we'll come back 24:13 24 minutes, 13 seconds okay but it will be I can I can tell you one thing that it will be always I mean it will be a growth story only the Only 24:21 24 minutes, 21 seconds fact is that we will have to wait and watch and then come back to the market for the guidance. Okay sir. Thank you and all the best. 24:30 24 minutes, 30 seconds Thank you. Thank you. 24:33 24 minutes, 33 seconds You may press star and one to ask questions. The next question is from the line of Bhavin Modi from Anand Raji. 24:40 24 minutes, 40 seconds Please go ahead. Mr. Modi, I have unmuted your line. 24:50 24 minutes, 50 seconds Please proceed with the question. Hi, am I audible? Yes. 24:54 24 minutes, 54 seconds Yeah. So my uh so far my first question is with respect to the you know the middleish crisis, right? So how do you see you know with respect to the you 25:03 25 minutes, 3 seconds know footfall conversion and second with respect to the you know the cost uh escalation and the supply chain issues. 25:09 25 minutes, 9 seconds So can you just throw some light on that? 25:13 25 minutes, 13 seconds Yeah. Hi good morning. So on the uh construction side I think our relationship with the vendors are strong 25:22 25 minutes, 22 seconds and from long years. So uh we have streamlined it. We had some issues in the tiles and pipes and all but that's 25:29 25 minutes, 29 seconds all got streamlined. the construction uh costs have increased but it's to two to 4% of the construction cost uh and it 25:38 25 minutes, 38 seconds should not have an impact on on us uh or looking at the total value of sales uh 25:45 25 minutes, 45 seconds the geopolitical crisis and the little Indian narrative also we have to wait and watch how it is till now our 25:53 25 minutes, 53 seconds walk-ins has been robust in April also as the life cycle our projects are which are at the maturity and mid We are 26:01 26 minutes, 1 second seeing a good robust walk-ins yet and uh conversions we don't see an issue till now. Uh we will wait and watch in the next few months how it goes. 26:12 26 minutes, 12 seconds U second with respect to you know the uh the you know call from the PM you know with respect to you know the suggestion 26:20 26 minutes, 20 seconds for work from home. So do you see these as you know like being a you know like silver lining for us or do you see these 26:28 26 minutes, 28 seconds more as you know temporary phase you know not having any you know major impact. 26:35 26 minutes, 35 seconds I I think uh this this should not have a major impact. Our locations of our projects are such in uh the MMR and all 26:43 26 minutes, 43 seconds that uh regardless of these matters sales velocity for people customers who want to grow and upgrade their uh 26:50 26 minutes, 50 seconds apartments or demand for a good premium project is there. So it's it's continuous. This will not have impact. 26:58 26 minutes, 58 seconds It can only help in the future if people want to have a bigger homes or better homes. 27:04 27 minutes, 4 seconds Okay. Got it. So third is with respect to you know your future launches I think it's around 8,000 K. So what would be 27:11 27 minutes, 11 seconds the our share our share of GDV uh 27:19 27 minutes, 19 seconds this uh most of it is our share our share other than uh blossoms. Yeah. 27:28 27 minutes, 28 seconds So can I project our share except which is a joint development project. 27:36 27 minutes, 36 seconds Okay. Okay. Understood. And so just last thing you know your in your net debt application you have given the cash 27:44 27 minutes, 44 seconds right. So just wanted to understand how much of the cash is still you know logged in the RA account which is not available to us right now. 27:53 27 minutes, 53 seconds So do you have the figure handy? 27:55 27 minutes, 55 seconds Yeah. Yeah. Yeah. So we will give the details but it's not not substantial. 27:59 27 minutes, 59 seconds Today our cash balances as of March 26 has been around 1,62 crores out of which not more than 20% is locked into the 28:07 28 minutes, 7 seconds accounts. Rest of the cash is available for the projects really. Sir can you just repeat number Z number out of cash 28:15 28 minutes, 15 seconds uh out of 162 closing I mean uh uh cash balances at the end of the year we have 28:22 28 minutes, 22 seconds around not more than 20% inter VA accounts locked for the reason for the you know the rules and regulations of RA making an unders got it sir got it 28:32 28 minutes, 32 seconds that's it for myself yeah thank you anyone who wishes to ask 28:39 28 minutes, 39 seconds questions may please press star and one Now the next question is from the line of Vun Jula Sagara from 361 capital. 28:47 28 minutes, 47 seconds Please go ahead. Hi sir, thank you for the opportunity. 28:50 28 minutes, 50 seconds So with respect to ongoing project uh you mentioned around 27,000 cr of future inflows. I just wanted to understand how 28:57 28 minutes, 57 seconds much construction cost and uh uh FSI and other cost which is pending uh with respect to this ongoing project. 29:10 29 minutes, 10 seconds Hello. So war it will be a detailed working I mean it will be a little uh little uh elaborate working so we'll provide you the data later. 29:21 29 minutes, 21 seconds Okay. Okay sir. Sure. Thank you. Thank you. 29:28 29 minutes, 28 seconds A reminder to all the participants that you may please step and want to ask questions. 29:50 29 minutes, 50 seconds We'll take the next question from the line of Vun Jalasa from 361 Capital. Please go ahead. 29:56 29 minutes, 56 seconds Yeah. So, yeah. So, so uh on the new launches what is the margins that we are penciling in for these new launches and 30:03 30 minutes, 3 seconds the forthcoming projects like which you mentioned for 28,000 cr. So what is the margins that we are looking at? 30:12 30 minutes, 12 seconds So generally the margins are in the range of 20 to 25%. However the there is that is at a revenue uh statement. So 30:20 30 minutes, 20 seconds far as the cash flows are concerned it will range around 25 to 30%. because most of the payouts for towards the 30:28 30 minutes, 28 seconds acquisition of these projects is already happened. Okay. 30:32 30 minutes, 32 seconds So for this forthcoming projects 28,000 all the like uh land payment and everything is done right. There's no fullex to be done. 30:42 30 minutes, 42 seconds No how much was how much so how much was the capex for these uh you know bds which we have done of 28,000. 30:51 30 minutes, 51 seconds We can provide you the data you can connect with us later because it again it is a project by project it's a different number. So 30:59 30 minutes, 59 seconds and then apart from this forthcoming project do we have any other land bank uh you know which is not factored in in this forthcoming project. 31:07 31 minutes, 7 seconds Yes we have beyond this forthcoming project we have certain land parcels which are not considered in this this chart. 31:15 31 minutes, 15 seconds Okay. Okay sir. I'll reach out to you offline for all that. Okay. Thank you. 31:23 31 minutes, 23 seconds Participants who wishes to ask questions may please press star and one now. 31:40 31 minutes, 40 seconds The next question is from the line of hers from Modilal UWA. Please go ahead. Hello. 31:49 31 minutes, 49 seconds Yes. 31:49 31 minutes, 49 seconds Yes. Audible. Yeah. Hi team. Good morning. Uh so my question is on the worldly project. Uh how how is the 31:57 31 minutes, 57 seconds traction there? Have we uh seen any changes in footfalls for situation that has evolved in the last two months and 32:05 32 minutes, 5 seconds uh how are the conversions happening there? 32:10 32 minutes, 10 seconds Yeah. Uh hi. Uh thank you. So uh footballs has been good. Uh we have good sales in Wiki. uh I can just tell you in 32:18 32 minutes, 18 seconds March itself in the total company we sold 1,000 crores and the worldly played a good part of it about 400 crores and 32:26 32 minutes, 26 seconds uh in April also we are looking at good footfalls construction is in full swing all approvals are in place uh and we see 32:33 32 minutes, 33 seconds we are on track of our uh guided uh uh sales targets what we've kept for 32:39 32 minutes, 39 seconds kalpuru one over the next five years uh sure so is this uh I mean we we have 32:47 32 minutes, 47 seconds been offering some payment plans there uh and I think some other players have also uh have also been offering the 32:54 32 minutes, 54 seconds payment plans. So do you see uh see this as a facilitating thing to I mean for the sales conversion or it's an organic 33:02 33 minutes, 2 seconds thing that has been uh that we are seeing at the projects. You're right. It's an organic thing. It's a more flexibility to the customer. 33:10 33 minutes, 10 seconds He has multiple options to choose from at different uh pricing uh structure. he can take uh what fruits him. 33:19 33 minutes, 19 seconds Sir and as a general trend across our projects uh considering the you know mid-remium the luxury segment uh how are 33:27 33 minutes, 27 seconds the footfalls have we have we seen any change and how is the conversion velocity that we are seeing and uh this 33:34 33 minutes, 34 seconds payment plan option u is this something that we are also evaluating in the future launches in FI27. 33:43 33 minutes, 43 seconds So payment options we are not uh anticipating in the new launches. No. Uh usually these payment launches happen 33:50 33 minutes, 50 seconds generally when your life cycle of project has it goes over. So it's not usually done in the launches time. 33:57 33 minutes, 57 seconds Secondly uh footfalls at all our sites actually is good at this moment. We are seeing people uh coming forward looking 34:05 34 minutes, 5 seconds at the activities uh and the construction. Barring the vacation of April and and the geopolitical little 34:13 34 minutes, 13 seconds slowdown uh we have not seen a drastic change in the footfalls. 34:20 34 minutes, 20 seconds Okay. Okay sir. Thanks a lot for taking my questions. Thank you. 34:28 34 minutes, 28 seconds Please press star and one to ask questions. 34:53 34 minutes, 53 seconds The next question is from the line of Anuch Kasha from E3 Capital. Please go ahead. 35:01 35 minutes, 1 second Hello. Hi, good morning. I Yes, sir. Please. 35:07 35 minutes, 7 seconds Sir, so I wanted to know uh your viewpoint on your diversification from these trend point view of like geography. What is your view on it? 35:18 35 minutes, 18 seconds Geographically we are heavy more dependent upon the MR region. So what is your take on geographical diversification? 35:31 35 minutes, 31 seconds Hi. So uh our focus is always been as an organization more on the western region MMR and Puna and which is among the top 35:40 35 minutes, 40 seconds realy markets and we will strongly be here which is good. We have a project in Hyderabad which has done well and uh 35:48 35 minutes, 48 seconds some of the markets we will evaluate uh opportunities in the future but at this moment we are more focused on these 35:55 35 minutes, 55 seconds markets which are robust. Yes sir. Yes sir. Yes yes yes you're right on that and sir one more additional question to it sir like many realters these days are 36:04 36 minutes, 4 seconds f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f f focusing on like uh senior living spaces like those project have got different skills skills or different things which 36:11 36 minutes, 11 seconds are required in those set. So as a as an organization called are you considering to diversify into different like senior living residence and all those stuff? 36:22 36 minutes, 22 seconds Yes or no? We are keep evaluating that and we look at uh project level does that make a suiting or not? Does that suit that project development or not? 36:30 36 minutes, 30 seconds But we keep evaluating that. 36:33 36 minutes, 33 seconds Okay. Sure. Similar you do you have that point into consideration while you're designing the project or you're implementing the project because the 36:40 36 minutes, 40 seconds high net worth individuals are more competitive in the MMR regions and the demographic is changing right now. So accordingly so that is was the reason I 36:49 36 minutes, 49 seconds was asking So frankly how we work is uh it may not be a focused senior living uh thing but 36:58 36 minutes, 58 seconds in our mixed use development or our residential development also we see to it that we have the right facilities for senior members who are staying there but 37:07 37 minutes, 7 seconds we have not much on the senior living at this moment in our projects. 37:11 37 minutes, 11 seconds Okay so thank you sir. So best of luck for the future voters. Thank you. Thank you 37:19 37 minutes, 19 seconds ladies and gentlemen. As there are no further questions, I now hand the conference over to the management of Kalput Limited for closing comments. 37:26 37 minutes, 26 seconds Thank you and over to you. 37:31 37 minutes, 31 seconds Thank you to all the participants for joining our results call. We look forward regularly interacting with you. 37:37 37 minutes, 37 seconds We are very confident to achieving our uh goals. In case of any other further questions, feel free to reach out to our 37:44 37 minutes, 44 seconds investor relations or the eny team for clarifications. Thank you. Thank you members of the management. 37:54 37 minutes, 54 seconds On behalf of Kalpatru Limited, that concludes this conference. We thank you for joining us and you may now disconnect your Thank you.