Puravankara Limited filed a press release pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosing its financial and operational performance for Q2FY27 and H1FY27.

Financial Performance (Q2FY27)

  • Profit After Tax (PAT): ₹82 crore, compared to a loss of ₹42 crore in Q2FY26.
  • Total Revenue: ₹1,051 crore, up 59% year-on-year from ₹663 crore in Q2FY26.
  • Pre-sales: ₹2,762 crore (including divestment value of ~₹626 crore from Purva Zentech), up 109% year-on-year.
  • Sales Volume: 2.38 million sq. ft., up 59% year-on-year.
  • Average Realization: ₹11,607 per sq. ft., up 32% year-on-year.
  • Customer Collections: ₹1,301 crore, up 24% year-on-year.
  • EBITDA Margin: 27%, compared to 18% in Q2FY26.

Financial Performance (H1FY27)

  • PAT: ₹107 crore, compared to a loss of ₹111 crore in H1FY26.
  • Total Revenue: ₹1,928 crore, up 60% year-on-year.
  • Residential and Commercial Sales: ₹3,575 crore.
  • Commercial Divestment: Completed divestment of approximately 5.46 lakh sq. ft. of commercial office space at Purva Zentech for an asset value of ₹625.94 crore.
  • Overall Achievement: ₹4,200.94 crore (including commercial monetization), representing 37.51% of the annual sales guidance of ₹11,200 crore.
  • Sales Volume: 3.74 million sq. ft., up 36% year-on-year.
  • Total Sales Value: ₹4,201 crore, up 72% year-on-year.
  • Units Sold: 2,420, up 8% year-on-year.
  • Average Realization: ₹11,237 per sq. ft., up 26% year-on-year.
  • Collections: ₹2,500 crore, up 31% year-on-year.
  • EBITDA Margin: 26%, compared to 17% in H1FY26.

Operational Metrics - Possession

  • Q2FY27 Handovers: 977 units covering 0.97 million sq. ft. (compared to 663 units covering 0.67 million sq. ft. in Q2FY26).
  • H1FY27 Handovers: 1,722 units (compared to 1,330 units in H1FY26).
  • Completed Inventory Pending Revenue Recognition: As of September 30, 2026, 4.28 million sq. ft. comprising 3,644 units.
  • Completions: Completed 0.41 million sq. ft. across two towers at One Park Avenue (Panorama), Mumbai during Q2FY27. Total completions for H1FY27 stood at 2.13 million sq. ft.

Projected Cash Flows

As of September 30, 2026:

  • Estimated Surplus from Ongoing Projects: ₹8,149 crore.
  • Estimated Surplus from Commercial Projects: ₹1,692 crore.
  • Estimated Surplus from Pipeline Projects: ₹8,725 crore.
  • Overall Estimated Surplus: ₹18,566 crore over the next three to five years.

Debt Position

  • Gross Debt (as of September 30, 2026): ₹3,763 crore (reduced by ₹180 crore during the quarter).
  • Net Debt (as of September 30, 2026): ₹2,366 crore (declined by ₹470 crore from ₹2,836 crore as of June 30, 2026).
  • Net Debt-to-Equity Ratio: Improved to 1.26 from 1.57 at the end of Q1FY27.

Business Highlights and Expansion (H1FY27)

The company added projects with a combined potential Gross Development Value (GDV) of ₹14,100 crore across seven transactions in H1FY27, including ₹8,900 crore added in Q2FY27.

September 2026:

  • Entered Delhi-NCR market with a 13.44-acre land parcel in Greater Noida (estimated GDV: ₹5,200 crore).
  • Secured redevelopment rights for three residential societies in Goregaon West, Mumbai (4.68 acres, ~1.05 million sq. ft. developable area, estimated GDV: ₹2,600 crore).

August 2026: Entered joint development for a 7.83-acre land parcel in South-East Bengaluru (potential GDV: ₹1,100 crore, ~0.89 million sq. ft. saleable area).

June 2026:

  • Joint development for 11.23-acre land in Doddagubbi, North Bengaluru (potential GDV: ₹1,100 crore, 0.74 million sq. ft. developable area).
  • Acquired 9.73-acre land in Sanna Ammanikere, Bengaluru (GDV potential: ₹800 crore, 0.89 million sq. ft. developable area).
  • Joint development for 6.4-acre land in Sarjapura, Bengaluru (potential GDV: ₹1,000 crore, 0.80 million sq. ft. developable area).

May 2026: Secured 14.57-acre land parcel in Mandur, Bengaluru (GDV: ₹2,300 crore, 1.80 million sq. ft. development potential).

Launches

During the quarter, the company launched Purva Heritage (Bengaluru), Miami at Breach Candy (Mumbai), and a new phase of Provident Equinox (Bengaluru), opening approximately 1.00 million sq. ft. of developable area for sale.

Launch Pipeline

The company has 16.41 million sq. ft. of planned launches with an approximate potential GDV of ₹22,600 crore, concentrated in Bengaluru and Mumbai. This includes 16 new projects (14.50 million sq. ft.) and 1.91 million sq. ft. of new phases. Upcoming Mumbai projects include Deccan at Pali Hill, Apna Ghar redevelopment (Unit 3), Deonar Baug, and Cuffe Parade.

Management Commentary

Ashish Puravankara, Managing Director, stated that the performance reflects progress in converting execution into revenue and earnings, supported by higher handovers, sustained sales, and stronger realizations. The company is focused on progressing handovers and strengthening cash generation, with a planned launch portfolio of ~₹22,600 crore GDV providing substantial growth opportunity.

Company Background

As of September 30, 2026, Puravankara has completed 98 projects totaling ~60 million sq. ft. across nine cities. Total land bank is ~46 million sq. ft., and ongoing projects total 33.61 million sq. ft.