Hmm...in my opinion...I think both are beautiful...in their own way. For example:
Look at this beautiful and innocent picture of Kumud. She has a simple yet very attractive look. Her eyes have a lot of Kashish, and her makeup is very simple.
I really like this picture! Her lehnga is gorgeous and her face looks very wild. Her set is also beautiful! You can see Kumud's body here. She's got a nice curvy body, not too fat, not too skinny. I think she looks very pretty here. With this look she could play a really good negative character.
This picture is very cute of Kali. Despite her negative character in Kkusum, here she looks as if she could never hurt a fly!...Her smile is very genuine, and heavy eye makeup looks very nice on her.
Even though she's not wearing that much makeup, but she still looks pretty. And there is an evillness in her eyes.
There's just one thing about Kali, I think she's too skinny. She should have some more curves. In that point Kali loses against Kumud. But there is also a point where Kumud loses to Kali. Kali can pull off lots of eye makeup. Kumud looks horrible in too much. So basically, my answer is they're both pretty.