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Puravankara Limited reported steady growth for the July-eptember 2025 quarter, with sales rising 4% year-on-year to INR 1,322 crore on 1.5 million sq. ft. sold and average realisation up 7% to INR 8,814 per sq. ft. Customer collections grew 8% to INR 1,047 crore, while total revenue jumped 28% to INR 663 crore. The company posted a quarterly net loss of INR 42 crore. Managing Director Ashish Puravankara said growth was driven by sustained sales and new project additions worth INR 9,100 crore GDV. Upcoming launches total 12.67 million sq. ft., including major projects in Bengaluru and Mumbai. Strong surplus levels and reduced debt costs reflect the firm's solid financial position and expansion focus.
Bengaluru-based real estate developer Puravankara Limited reported its financial performance for the quarter ending September 2025, showing a steady increase in sales and collections. During the second quarter of FY26, the company recorded sales of INR 1,322 crores, representing a 4% annual increase, on a total sales volume of 1.5 million sq. ft. The average realisation improved by 7% to INR 8,814 per sq. ft., while customer collections grew 8% year-on-year to INR 1,047 crores. Advertisement
The total revenue for the quarter stood at INR 663 crores, marking a 28% rise over the previous year, with a net loss of INR 42 crores. In the first half of FY26, the company generated total revenue of INR 1,201 crores and recorded a net loss of INR 111 crores.
According to Managing Director Ashish Puravankara, the company maintained its growth momentum entirely through sustenance sales, with pre-sales and collections both improving compared to last year. He stated that the company enhanced its development pipeline by adding over 6.36 million sq. ft. of developable area valued at INR 9,100 crores GDV. These included key redevelopment projects in Mumbai's Chembur and Malabar Hill, and partnerships in North and East Bengaluru, aligning with the company's strategy to expand across high-demand micro-markets through disciplined capital allocation.
Puravankara plans to accelerate its project launches in the coming quarters, with 12.67 million sq. ft. of projects expected to roll out within the next three quarters. Among the upcoming developments are a major project at KIADB Hardware Park in Bengaluru and a redevelopment venture in Andheri Lokhandwala, both expected to be launched in January 2026. Most projects are nearing approval completion.
The company handed over 663 units covering 0.67 million sq. ft. during the second quarter, generating INR 663 crores in income. For the half year, handovers totalled 1,330 units across 1.36 million sq. ft., generating INR 1,201 crores. Estimated surplus from completed and ongoing projects was INR 7,679 crores, with commercial and pipeline projects contributing INR 2,008 crores and INR 5,881 crores respectively. The overall estimated surplus exceeded INR 15,568 crores against a net debt of INR 2,894 crores, reflecting a strong cover of over five times.
The company's business development during the first half included new acquisitions such as a partnership at KIADB Hardware Park, North Bengaluru, covering 24.59 acres with 3.48 million sq. ft. of developable area and GDV exceeding INR 3,300 crores. Another joint development at Balegere in East Bengaluru involved 0.85 million sq. ft. of developable area with GDV potential of INR 1,000 crores. In Mumbai, the company secured redevelopment projects at Chembur and Malabar Hill with combined GDV potential of around INR 4,800 crores.
Puravankara's weighted average cost of debt declined to 11.32%, and its net debt-to-equity ratio stood at 1.77 for Q2FY26.
The broader economic outlook remains favourable, with India's GDP expanding 7.8% in the first quarter of FY26. The IMF's annual growth projection of 6.4% and the RBI's 100 bps rate cut to 5.5% continue to bolster investor sentiment. Real estate activity has remained robust, particularly in the office and data centre segments, while residential sales and prices have grown between 5-10% across major metros.
Source - PTI
5th Jun, 2025
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