Puravankara Limited (PURVA)
₹202.97 -0.46% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Puravankara's revenue was ₹849 Cr (+62.0% year on year, -43.5% on the previous quarter), and net profit ₹25.2 Cr (against a loss a year earlier); the operating margin was 22.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹849 | +62.0% | -43.5% |
| Operating profit | ₹189 | +181.6% | -37.3% |
| Net profit | ₹25.2 | from loss | -77.1% |
| EPS (₹) | 1.22 | from loss | -74.5% |
| Operating margin | 22.2% | — | — |
PURVA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 42.43% of the PURVA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 35.61%. That is close to its usual level.
Delivery in the last 5 sessions: 23.6% · 9.8% · 52.7% · 45.2% · 42.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Puravankara reported strong operational performance for Q2FY27 with pre-sales surging 62% YoY to ₹2,136 crore, compared to ₹1,322 crore in Q2FY26. Customer collections rose 24% YoY to ₹1,301 crore, supported by average realization expanding 32% YoY to ₹11,651 per sq. ft. In H1FY27, the company expanded its footprint aggressively, adding 10.74 msft of developable area with an estimated Gross Development Value (GDV) of ₹14,100 crore across Bengaluru, Mumbai, and Greater Noida. Additionally, the company completed the sale of commercial asset Purva Zentech at an enterprise value of ₹625.94 crore.
- Q2FY27 pre-sales grew 62% YoY to ₹2,136 crore with sales area reaching 1.83 msft (up 22% YoY)
- Average price realization jumped 32% YoY to ₹11,651 per sq. ft
- Customer collections grew 24% YoY to ₹1,301 crore
- Added 10.74 msft developable area with estimated GDV of ₹14,100 crore in H1FY27
- Completed sale of commercial property Purva Zentech at enterprise value of ₹625.94 crore
Puravankara reported strong operational performance for Q2FY27 with pre-sales surging 62% YoY to ₹2,136 crore, compared to ₹1,322 crore in Q2FY26. Customer collections rose 24% YoY to ₹1,301 crore, supported by average realization expanding 32% YoY to ₹11,651 per sq. ft. In H1FY27, the company expanded its footprint aggressively, adding 10.74 msft of developable area with an estimated Gross Development Value (GDV) of ₹14,100 crore across Bengaluru, Mumbai, and Greater Noida. Additionally, the company completed the sale of commercial asset Purva Zentech at an enterprise value of ₹625.94 crore.
- Q2FY27 pre-sales grew 62% YoY to ₹2,136 crore with sales area reaching 1.83 msft (up 22% YoY)
- Average price realization jumped 32% YoY to ₹11,651 per sq. ft
- Customer collections grew 24% YoY to ₹1,301 crore
- Added 10.74 msft developable area with estimated GDV of ₹14,100 crore in H1FY27
- Completed sale of commercial property Purva Zentech at enterprise value of ₹625.94 crore
Puravankara has entered into a Joint Development Agreement (JDA) for a 12.76-acre land parcel in Sathanur, North Bengaluru, with an estimated Gross Development Value (GDV) of ₹2,500 crore. The residential project will feature approximately 1.90 million square feet of saleable area. This addition brings the company's total FY27 business development additions to eight projects comprising 12.64 msft with a cumulative GDV potential of ₹16,600 crore. The Sathanur project GDV alone equals ~61.5% of Puravankara's TTM revenue of ₹4,064 crore, reinforcing its medium-term pipeline via a capital-efficient JDA route.
- Signed JDA for a 12.76-acre land parcel in Sathanur, North Bengaluru
- Estimated Gross Development Value (GDV) of ₹2,500 crore with ~1.90 msft saleable area
- Total FY27 business development pipeline reaches ₹16,600 crore across 12.64 msft
- Bengaluru pipeline additions now total six land parcels (~7.02 msft and ₹8,800 crore GDV)
Puravankara Limited has completed the fourth and final tranche of its private placement NCD program, allotting 250 unlisted, unrated, senior, secured, redeemable debentures aggregating to ₹25 crore. This concludes the ₹300 crore borrowing program approved in May 2025. The allotted debentures carry a face value of ₹10,00,000 each and mature on June 18, 2030. Given the company's existing debt of ₹2,397 crore, this ₹25 crore allotment represents approximately 1% of total debt.
- Allotment of 250 debentures aggregating to ₹25,00,00,000 as the fourth and final tranche
- Concludes the overall planned fundraise of up to ₹300,00,00,000 approved in May 2025
- Face value of ₹10,00,000 per debenture on private placement basis
- Maturity date set for June 18, 2030; instruments remain unlisted and unrated
Puravankara Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RTA MUFG Intime India Private Limited confirms that share certificates received for dematerialisation during the period were duly processed, verified, and cancelled. It also confirms that the depositories were substituted as the registered owners within prescribed timelines. This is a standard statutory filing with no impact on the company's financials or operations.
- Compliance certificate filed under Regulation 74(5) for quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited on October 03, 2026
- Company filing submitted to BSE and NSE on October 08, 2026
Puravankara Limited has completed the 100% equity stake sale of its wholly owned subsidiary, Purva Ruby Properties Private Limited, to Prishal Office Parks III Private Limited on September 30, 2026. The estimated consideration received is approximately ₹145 crore, which represents roughly 4.3% of the company's TTM revenue of ₹3,408 crore and about 2.9% of its current market capitalization. The sold subsidiary contributed ₹25.39 crore (1.06%) to standalone turnover and had a negative net worth. The buyer is managed by ICICI Prudential Asset Management Company under its OYOF-II AIF.
- Sale of 100% equity stake in Purva Ruby Properties completed on September 30, 2026
- Estimated transaction consideration received is approximately ₹145,00,00,000
- Target company contributed turnover of ₹25,38,89,035 (1.06% of Puravankara's turnover) with negative net worth
- Acquirer is Prishal Office Parks III Pvt Ltd (owned by ICICI Prudential Office Yield Optimiser Fund – AIF II)
Puravankara Limited reported an insider trading code violation by a designated person, Mr. Prashanth S K (Senior General Manager – Projects Technical). The employee executed a contra trade by selling 1,300 equity shares worth ₹2,73,125.94 on September 11, 2026, within six months of acquisition. The company issued a written warning and imposed a ₹5,000 penalty, which was deposited to the SEBI Investor Protection and Education Fund on September 30, 2026. No profit disgorgement was required as the employee incurred a loss on the transaction.
- Designated employee sold 1,300 shares worth ₹2,73,125.94 on 11-09-2026 violating contra-trade rules
- Sale took place within six months of acquisition, constituting a Code of Conduct breach under SEBI PIT regulations
- Company imposed a penalty of ₹5,000 remitted to the SEBI Investor Protection and Education Fund
- No disgorgement directed as the individual incurred a loss on the trade
Puravankara Limited has marked its entry into the Delhi-NCR market by acquiring a 13.44-acre land parcel in Greater Noida via its wholly-owned subsidiary, Prudential Housing and Infrastructure Development Limited. The project features an estimated Gross Development Value (GDV) of ~Rs 5,200 crore with a saleable potential of ~4.57 million sq. ft., representing ~153% of the company's TTM revenue (Rs 3,408 crore). This transaction takes the company's FY27 business development pipeline across Delhi-NCR, Mumbai, and Bengaluru to ~10.74 million sq. ft. with an estimated GDV of Rs 14,100 crore.
- Secured 13.44-acre land parcel in Greater Noida, marking entry into Delhi-NCR
- Estimated Gross Development Value (GDV) of ~Rs 5,200 crore (~1.5x TTM revenue)
- Estimated saleable area of ~4.57 million sq. ft.
- Brings FY27 business development pipeline to 10.74 million sq. ft. and Rs 14,100 crore GDV
Puravankara Limited's wholly owned subsidiary, Provident Housing Limited, announced the launch of Phase 6 of its existing residential project, 'Provident Equinox', situated in Bengaluru South. The launch date is slated for September 20, 2026, following registration with the Karnataka RERA (Registration No. PRM/KA/RERA/1251/310/PR/180926/008948). Project-specific financial details such as launch area, gross development value (GDV), and expected revenue potential were not disclosed in the filing.
- Launch of Phase 6 ('PROVIDENT EQUINOX 6') under subsidiary Provident Housing Limited
- Scheduled date of launch is September 20, 2026
- Registered with Karnataka RERA under registration number PRM/KA/RERA/1251/310/PR/180926/008948
- Location: Venkatapura Village, Kengeri Hobli, Bengaluru South, Karnataka
Puravankara Limited has issued a corrigendum to its FY 2025-26 Annual Report to rectify typographical, non-financial errors ahead of its 40th AGM on September 25, 2026. The corrections primarily amend the classification of KVN Property Holdings LLP and Provident White Oaks LLP to 'Subsidiary' instead of 'Associate', and add NBD Office Park LLP (51% held) as a subsidiary in the BRSR section. In the Board's Report, subsidiary entities are clarified as 30 subsidiary companies, including 9 domestic step-downs and excluding 2 Sri Lankan subsidiaries. The company explicitly stated that these changes have zero impact on its financial statements.
- AGM scheduled for September 25, 2026, at 02:00 PM IST via Video Conference
- Added NBD Office Park LLP as a 51% held subsidiary in the BRSR disclosures
- Clarified total subsidiary companies count to 30, excluding 2 entities in Sri Lanka
- Reclassified KVN Property Holdings LLP and Provident White Oaks LLP from Associate to Subsidiary
Puravankara Limited has issued a corrigendum to its FY2025-26 Annual Report ahead of its 40th Annual General Meeting scheduled for September 25, 2026. The changes correct typographical, non-material classifications in the Business Responsibility and Sustainability Report (BRSR) and the Board's Report. Specifically, KVN Property Holdings LLP and Provident White Oaks LLP were reclassified as subsidiaries rather than associates, and NBD Office Park LLP was added as a 51% owned subsidiary. The company confirmed these updates have no impact on its reported financial statements.
- AGM scheduled for September 25, 2026, at 02.00 P.M. IST via video conference
- KVN Property Holdings LLP and Provident White Oaks LLP corrected from 'Associate' to 'Subsidiary'
- Added NBD Office Park LLP to BRSR disclosures as a 51% held subsidiary
- Clarified total subsidiary companies at 30 entities, excluding 2 in Sri Lanka
- Company reiterated that all corrections are non-financial with zero impact on financial statements
Puravankara Limited has secured redevelopment rights for three residential societies in Bangur Nagar, Goregaon West, Mumbai, with an estimated Gross Development Value (GDV) of ₹2,600 crore. The project spans 4.68 acres with a developable potential of approximately 1.05 million sq. ft., representing its eighth redevelopment project in Mumbai. The addition takes the company's Mumbai redevelopment portfolio GDV to approximately ₹17,500 crore. Relative to Puravankara's TTM revenue of ₹3,408 crore, this single project represents ~76% of annual revenues in potential GDV.
- Secured redevelopment rights with an estimated GDV of ₹2,600 crore
- Project covers 4.68 acres with developable potential of ~1.05 million sq. ft.
- Marks Puravankara's eighth redevelopment project in the Mumbai micro-market
- Brings total Mumbai redevelopment portfolio GDV to approximately ₹17,500 crore
Puravankara Limited has announced the resignation of Mr. Vishnu Moorthi H from his role as Senior Vice President – Risk and Control, categorised as Senior Management Personnel (SMP). The cessation is effective from the close of business hours on September 15, 2026. The resignation is on account of superannuation (retirement) and represents a routine personnel transition.
- Resignation of Senior Management Personnel Mr. Vishnu Moorthi H announced on September 15, 2026
- Reason for cessation confirmed as superannuation (standard retirement)
- Cessation takes effect from closure of business hours on September 15, 2026
Puravankara Limited announced that Mr. Vishnu Moorthi H, Senior Vice President – Risk and Control, has resigned from the company. The cessation is effective from the closure of business hours on September 15, 2026. The departure is on account of normal superannuation (retirement) and does not reflect operational discord. Given the role's internal functional focus, the transition is administrative and is not expected to materially affect business operations.
- Mr. Vishnu Moorthi H ceases to be Senior Vice President – Risk and Control effective September 15, 2026
- Departure categorized as resignation on account of superannuation
- Filing made pursuant to SEBI Listing Regulations under Regulation 30
Puravankara Limited has provided a corporate guarantee of ₹80 crore on behalf of its wholly owned subsidiary, Purva Blue Agate Private Limited. The guarantee backs the issuance of 800 senior, secured, unrated, unlisted, redeemable Non-Convertible Debentures (NCDs) of ₹10 lakh face value each to Catalyst Trusteeship Limited. The ₹80 crore guarantee represents approximately 5.1% of Puravankara's net worth (₹1,558 crore) and 3.3% of total debt (₹2,397 crore). It is classified as a contingent liability with no immediate direct operational or P&L impact.
- Corporate guarantee executed for an aggregate amount of ₹80,00,00,000 (₹80 crore).
- Issued on behalf of wholly owned subsidiary Purva Blue Agate Private Limited.
- Backs 800 Senior, Secured, Unrated, Unlisted, Redeemable NCDs of face value ₹10,00,000 each.
- Guarantee issued in favour of Catalyst Trusteeship Limited and treated as a contingent liability.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for FY25 was INR 2,013.61 Cr, representing an 8% YoY decrease. In H1 FY26, pre-sales in the South segment decreased by 11% YoY to INR 1,809 Cr, while the West & Commercial segment saw a 102% YoY increase in sales value due to the launch of 'Purva Panorama' in Thane.
Geographic Revenue Split
The South region remains the primary revenue driver, but the Company is expanding its footprint in Western India (Mumbai and Pune), which now accounts for 21% of the 9.22 Million sq. ft. planned development pipeline.
Profitability Margins
The Company reported a consolidated Loss After Tax of INR 182.92 Cr for FY25, compared to a profit of INR 42.00 Cr in FY24, resulting in a Net Profit Margin of -22%. Q2 FY26 reported a loss of INR 42 Cr compared to a loss of INR 20 Cr in Q2 FY25.
EBITDA Margin
EBITDA margin for FY25 stood at 5.25%, a significant decline from 23.75% in FY24, primarily due to higher input costs and marketing investments for future launches.
Capital Expenditure
In FY25, the Company invested approximately INR 1,284 Cr in land acquisitions, adding 8 Million sq. ft. of developable area with an estimated Gross Development Value (GDV) exceeding INR 13,000 Cr.
Credit Rating & Borrowing
Net debt stood at INR 2,894 Cr as of September 30, 2025. Interest expenses for Q2 FY26 were INR 177 Cr, reflecting a sharp rise from previous periods due to increased borrowing for land and development.
Operational Drivers
Raw Materials
Land (INR 1,284 Cr acquisition in FY25), Sub-contractor costs (INR 922.12 Cr in H1 FY26), and Raw materials/components (INR 160.09 Cr in H1 FY26).
Key Suppliers
Not disclosed in available documents; however, sub-contractors are the primary cost component for project execution.
Capacity Expansion
Current economic interest in land bank is 21.98 Million sq. ft. as of March 31, 2025. The Company added 8 Million sq. ft. in FY25 and has a planned development pipeline of 9.22 Million sq. ft.
Raw Material Costs
Land purchase costs were INR 67.78 Cr in H1 FY26 compared to INR 490.02 Cr in H1 FY25. Sub-contractor costs increased 85% YoY to INR 922.12 Cr in H1 FY26.
Manufacturing Efficiency
Customer collections increased 9% YoY to INR 3,937 Cr in FY25, indicating improved operating efficiencies and payment adherence.
Strategic Growth
Expected Growth Rate
4%
Growth Strategy
Growth will be achieved through expansion in Western India (Mumbai/Pune), which now represents 21% of the pipeline, and a focus on plotted developments (Purva Land) which have shorter completion cycles. The Company added 8 Million sq. ft. of land in FY25 with a GDV of over INR 13,000 Cr to fuel future launches.
Products & Services
Residential apartments (luxury and premium affordable), plotted developments, and commercial assets (e.g., Purva Zentech).
Brand Portfolio
Puravankara (Luxury/Premium), Provident Housing (Premium Affordable), and Purva Land (Plotted Developments).
New Products/Services
Launch of 'Purva Panorama' in Thane and upcoming projects in KIADB Hardware Park, Bengaluru. Plotted developments under 'Purva Land' are expected to contribute to faster cash conversion.
Market Expansion
Targeting Western India (Mumbai and Pune) for redevelopment and new developments to diversify from the core South India market.
Strategic Alliances
Partnerships with HCARE Fund 3 (INR 605 Cr NCD), 360 One (INR 50 Cr), and Purva Excellence Fund (INR 116 Cr).
External Factors
Industry Trends
The industry is seeing a shift toward branded developers and increased home buyer interest in larger homes and well-designed projects with better amenities.
Competitive Landscape
The market is consolidating toward organized, branded developers with strong execution capabilities.
Competitive Moat
Durable advantages include brand strength (Puravankara/Provident) and pricing power, allowing for realization growth despite volume drops. Financial stability is supported by a projected surplus of INR 15,568 Cr, providing 5x coverage over net debt.
Macro Economic Sensitivity
Performance is linked to sales and rental realizations shaped by market dynamics, project location, and brand equity.
Consumer Behavior
Consumers are increasingly considering Puravankara for larger homes and premium amenities, driving sustenance sales.
Regulatory & Governance
Industry Regulations
Operations are affected by regulatory approval cycles, particularly in Bengaluru where the transition to GBA (five different corporations) and revenue department software updates delayed project launches.
Environmental Compliance
Sustainability is embedded in operations through inclusive and environmentally sustainable initiatives, though specific costs are not disclosed.
Taxation Policy Impact
The Company reported a tax credit of INR 21.53 Cr in H1 FY26 due to reported losses.
Legal Contingencies
No fraud was reported by auditors under section 143(12) of the Companies Act, 2013. Internal financial controls were found to be adequate with no material observations from auditors.
Risk Analysis
Key Uncertainties
Regulatory approval delays in core markets like Bengaluru could impact launch timelines by 15-20%. Input cost inflation and land acquisition costs (INR 1,284 Cr in FY25) remain key margin risks.
Geographic Concentration Risk
High concentration in South India (Bengaluru), though being mitigated by the 21% pipeline allocation to the West (Mumbai/Pune).
Third Party Dependencies
Significant dependency on sub-contractors for project execution, with costs reaching INR 922.12 Cr in H1 FY26.
Technology Obsolescence Risk
The Company is adopting advanced strategic insights and management skills to ensure organizational resilience in a dynamic environment.
Credit & Counterparty Risk
Receivables quality is supported by an 8% YoY increase in customer collections (INR 1,047 Cr in Q2 FY26), maintaining a solid cash conversion ratio.
