Kalpataru Projects tumbles 5% on weak Q1FY25 performance

So far this year, the stock of this realty major surged over 88 percent

Shares of Kalpataru Projects International tumbled 5 percent to Rs 1,289 per share on July 30 after it reported weak April-June quarter (Q1FY25) figures.

The realty firm posted about a 26 percent on-year decline in consolidated net profit to Rs 84 crore in Q1FY25 from Rs 113 crore in the year-ago period. Total income also rose to Rs 4,609 crore in Q1FY25, whereas expenses climbed by 9 percent YoY to Rs 4,472 crore.

The company said its order book was at Rs 57,195 crore, as of June 30, 2024. This excludes orders worth Rs 838 crore the company bagged in July 2024.

ALSO READ: Kalpataru Projects International bags orders worth Rs 2,995 crore

"We have delivered a resilient performance in Q1FY25 despite lower manpower availability and delay in collections given typical seasonality and general elections. However, getting in Q2 FY25, we have started to see a moderation in working capital intensity with improving budgetary allocations," Manish Mohnot, MD & CEO of Kalpataru Projects.

Kalpataru Projects is one of the largest specialised engineering, procurement, and construction (EPC) companies engaged in power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban mobility (flyovers and metro rail), highways and airports. Currently,the company is executing projects in over 30 countries and has a global footprint in over 70 countries.

Recently, the company along with its joint ventures and international subsidiaries bagged orders worth Rs 2,995 crore. The new order wins were in the transmission & distribution (T&D), building & factories (B&F) and water business categories.

So far this year, the stock of this realty major surged over 88 percent, outperforming benchmark Nifty 50's 14 percent rise during the same period. Earlier, Kalpataru shares had hit 52-week high of Rs 1,427 apiece on July 19, 2024.

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