Overview

Puravankara Limited reported a strong Q2FY27 performance, delivering revenue of ₹1,051 crore, a 59% year‑on‑year (YoY) increase from ₹663 crore in Q2FY26, and a PAT of ₹82 crore, reversing a loss of ₹42 crore in the comparable quarter.

Financial Performance

  • Revenue: ₹1,051 crore (↑59% YoY).
  • PAT: ₹82 crore (vs loss of ₹42 crore in Q2FY26).
  • EBITDA margin improved to 27% from 18% in Q2FY26.
  • H1FY27 revenue reached ₹1,928 crore, up 60% YoY, with PAT of ₹107 crore, compared with a loss of ₹111 crore in H1FY26.
  • Residential and commercial sales for H1FY27 totaled ₹3,575 crore.

Sales, Realisation & Collections

  • Quarterly pre‑sales amounted to ₹2,762 crore, including a divestment value of approximately ₹626 crore from Purva Zentech, representing a 109% YoY rise.
  • Sales volume: 2.38 million sq ft.
  • Average realisation: ₹11,607 per sq ft, up 32% YoY.
  • Customer collections: ₹1,301 crore, up 24% YoY.
  • Total units sold: 1,403, up 12% YoY.

Handovers & Inventory

  • Q2FY27 handovers: 977 units covering 0.97 msft, versus 663 units (0.67 msft) in Q2FY26.
  • H1FY27 handovers: 1,722 units, up from 1,330 units in H1FY26.
  • As of 30 Sept 2026, completed inventory of 4.28 msft (3,644 units) remained pending revenue recognition.
  • Completed 0.41 msft across two towers at One Park Avenue (Panorama), Mumbai, during Q2FY27, bringing total H1FY27 completions to 2.13 msft.

Debt & Leverage

  • Gross debt stood at ₹3,763 crore as of 30 Sept 2026, reduced by ₹180 crore during the quarter.
  • Net debt declined by ₹470 crore to ₹2,366 crore, from ₹2,836 crore on 30 June 2026.
  • Net debt‑to‑equity ratio improved to 1.26 from 1.57 at end‑Q1FY27.

Projected Cash‑Flow Surplus (Next 3‑5 Years)

  • Ongoing projects surplus: ₹8,149 crore.
  • Commercial projects surplus: ₹1,692 crore.
  • Pipeline projects surplus: ₹8,725 crore.
  • Total estimated surplus across all categories: ₹18,566 crore.

GDV Additions & Land Acquisitions

  • Q2FY27 added projects with combined potential GDV of ₹8,900 crore across Bengaluru, Mumbai and Greater Noida.
  • H1FY27 total potential GDV secured reached ₹14,100 crore across seven transactions.
  • September 2026: Entered Delhi‑NCR with a 13.44‑acre parcel in Greater Noida (GDV ₹5,200 crore); secured redevelopment rights for three societies in Bangur Nagar, Goregaon West (4.68 acre, 1.05 msft, GDV ₹2,600 crore).
  • August 2026: Joint development agreement for 7.83 acre in South‑East Bengaluru (GDV >₹1,100 crore, 0.89 msft).
  • June 2026: Joint development for 11.23 acre in Doddagubbi, North Bengaluru (GDV >₹1,100 crore, 0.74 msft); acquisition of 9.73 acre in Sanna Ammanikere airport corridor (GDV ~₹800 crore, 0.89 msft); joint development for 6.4 acre in Sarjapura, Bengaluru (GDV >₹1,000 crore, 0.80 msft).
  • May 2026: Secured 14.57 acre in Mandur, Bengaluru (GDV ₹2,300 crore, 1.80 msft).

Launches & Pipeline

  • Launched Purva Heritage in Bengaluru, Miami at Breach Candy, Mumbai, and a new phase of Provident Equinox in Bengaluru, opening approximately 1.00 msft of developable area.
  • Launch pipeline comprises 16.41 msft of planned launches across Southern and Western markets, with an estimated GDV of ₹22,600 crore; the pipeline is concentrated in Bengaluru and Mumbai and includes 16 new projects (14.50 msft) and 1.91 msft of new phases.
  • Upcoming Mumbai projects: Deccan at Pali Hill, Apna Ghar redevelopment (Unit 3), Deonar Baug, and Cuffe Parade.

Management Commentary

Ashish Puravankara, Managing Director, stated that the quarter’s performance reflects progress in converting execution into revenue and earnings, highlighting higher handovers, sustained sales, stronger realisations, and a net debt reduction of ₹470 crore. He emphasized focus on pending revenue recognition for 3,644 units, continued GDV additions, and disciplined capital allocation to drive future growth.