Kalpataru Reports Rs.1 Bn Net Loss in FY 2023-24

21 Aug 2024 CW Team

Kalpataru, a leading infrastructure development firm, reported a net loss of Rs.1 Bn crore for the fiscal year 2023-24. This significant downturn comes as the company prepares for an upcoming IPO, with hopes of stabilising its financial outlook.

The loss, attributed to a variety of operational challenges, marks a sharp contrast to its performance in previous years. Rising costs in raw materials, delays in project execution, and broader economic factors have been cited as major contributors to the company's negative financial results.

Despite the loss, Kalpataru remains optimistic about its long-term growth prospects. The company has outlined a strategic plan to streamline operations, reduce expenses, and focus on completing existing projects. These efforts, coupled with the expected capital infusion from the upcoming IPO, aim to strengthen its financial position in the coming years.

Kalpataru is a key player in the infrastructure sector, involved in projects across urban development, power transmission, and transportation. The firm's leadership emphasised that while FY24 was a challenging year, they remain confident in their ability to turn things around, with a strong project pipeline and new opportunities on the horizon.

As the company gears up for its IPO, investors are closely monitoring how Kalpataru addresses its financial challenges and whether it can return to profitability in the near future.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..