IPO-bound Kalpataru posts Rs 100.74 cr net loss in FY24 on lower income

Real estate firm Kalpataru Ltd has posted a consolidated net loss of Rs 100.74 crore during the last financial year on lower income.

Last week, the company filed a preliminary document with capital markets regulator Sebi to launch its initial public offering (IPO) to raise up to Rs 1,590 crore, mainly to reduce debt.

Mumbai-based Kalpataru Ltd has filed the draft red herring prospectus (DRHP) to launch its IPO, which comprises a fresh issue of shares, having a face value of Rs 10 each, aggregating up to Rs 1,590 crore.

It would use Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.

According to the DRHP, the company posted a consolidated net loss of Rs 100.74 crore during 2023-24 fiscal, down from a net loss of Rs 200.73 crore in the preceding financial year.

Total income also declined to Rs 2,029.93 crore in the last fiscal from Rs 3,716.61 crore in the 2022-23 financial year.

"We are an integrated real estate development company involved in al