Date: 14.08.2026

Financial Performance Summary

Q1FY27 Key Metrics:

  • Total Revenue: ₹877 crore, up 63% YoY from ₹539 crore in Q1FY26
  • Profit After Tax (PAT): ₹25 crore versus loss of ₹69 crore in Q1FY26
  • EBITDA Margin: 25%, expanded from 15% in Q1FY26
  • Operating Inflows: ₹1,423 crore
  • Operating Outflows: ₹1,078 crore
  • Operating Surplus: ₹345 crore

Pre-Sales and Collections:

  • Pre-sales Value: ₹1,439 crore, up 28% YoY
  • Pre-sales Area: 1.36 million sq. ft.
  • Units Sold: 1,017 units
  • Average Realization: ₹10,589 per sq. ft., up 18% YoY
  • Collections: ₹1,199 crore, up 40% YoY (highest first-quarter collections in three years)

Execution and Handovers:

  • Homes Handed Over: 745 units covering 0.94 msft (up from 667 units in Q1FY26)
  • Completed Inventory Pending Revenue Recognition: 3.20 msft (2,777 units) as of June 30, 2026
  • Completed During Quarter: 1.72 msft across ten towers and phases:
  • Goa: 1.00 msft (Provident Adora De Goa, Phases VIII to XI)
  • Pune: 0.51 msft (Emerald Bay Towers B-2 and B-3, and Purva Aspire)
  • Mumbai: 0.21 msft (Purva Clermont, Wings A, D and E)

Debt Position

  • Gross Debt: ₹3,942 crore as of June 30, 2026 (reduced by ₹74 crore during the quarter)
  • Net Debt: ₹2,836 crore
  • Net Debt-to-Equity Ratio: 1.57 for Q1FY27
  • Cost of Debt: 11.12% as of June 30, 2026

Projected Cash Flows

As of June 30, 2026:

  • Estimated Surplus from Ongoing Projects: ₹8,976 crore
  • Estimated Surplus from Commercial Projects: ₹2,220 crore
  • Estimated Surplus from Pipeline Projects: ₹8,636 crore
  • Overall Estimated Surplus: ₹19,831 crore over next 3-5 years

Business Developments

Land Acquisitions (Q1FY27): Added ₹5,200 crore GDV through four land transactions in Bengaluru:

  • Mandur, Bengaluru: 14.57-acre land parcel with estimated GDV of ₹2,300 crore and 1.8 msft development potential
  • Doddagubbi, North Bengaluru: 11.23 acre JDA with potential GDV over ₹1,100 crore and 0.74 msft saleable area
  • Sarjapura, Bengaluru: 6.4-acre JDA with potential GDV over ₹1,000 crore and 0.8 msft saleable area
  • Sanna Ammanikere, North Bengaluru: 9.73-acre land parcel with GDV potential of ₹800 crore and 0.89 msft saleable area

Commercial Property Sale:

  • Purva Zentech, Bengaluru: Definitive agreement with ICICI Prudential AMC for sale at enterprise value of ₹625.94 crore
  • Transaction structure: ₹145 crore through sale of SPV shares, balance through agreed balance sheet adjustments

Launch Pipeline

  • Planned Launches: 20.48 msft across Southern and Western markets
  • Approximate GDV: ₹27,300 crore
  • Future Cash Flow Potential: ₹8,636 crore from new launches
  • Redevelopment Portfolio: Five projects in Mumbai representing 2.23 msft of saleable area

Management Commentary

Ashish Puravankara, Managing Director, stated: \"Q1FY27 reflects continued strengthening of operating performance with healthy growth in revenue, pre-sales and collections alongside improved margins. With 2,777 completed units pending revenue recognition, we expect execution momentum to support earnings visibility. We continue to balance growth with disciplined capital allocation. With strong launch pipeline and estimated surplus of ₹19,831 crore over next 3-5 years, we remain focused on delivering FY27 sales guidance of ₹11,200 crore.\"

Company Background

  • Total Completed Projects: 97 projects totaling ~59 msft across nine cities
  • Total Land Bank: ~38 msft
  • Ongoing Projects: 35.14 msft
  • Commercial Real Estate Presence: ~3 msft
  • Wholly-owned Subsidiary: Starworth Infrastructure and Construction Limited (SICL)
  • Interior Design Arm: Purva Streaks