Puravankara Ltd

Operational highlights

• Q2FY27 pre-sales ₹2,136 crore, up 62% YoY.
• Customer collections ₹1,301 crore, up 24% YoY.
• Sales area 1.83 msft; avg price ₹11,651/sq ft, up 32%.
• H1FY27 handovers 1,722 homes (1.92 msft).
• Purva Zentech sale completed; EV ₹625.94 crore.
• H1FY27 GDV additions ₹14,100 crore across Bengaluru, Mumbai, Greater Noida.
• Q2FY27 additions: 6.51 msft; GDV ₹8,900 crore.
• New launches in H1FY27: 3 projects, 1.13 msft launched.

Outlook and strategy

• Pipeline expanded with 10.74 msft in H1FY27; GDV ₹14,100 crore.
• Focus on disciplined capital deployment and timely delivery.
• Macro backdrop: RBI notes 7.1% real GDP growth for FY27; inflation 5.2%.

Transaction details

• Transfer of 100% equity in Purva Ruby Properties Private Limited completed on 30 Sep 2026.
• Purva Ruby Properties ceased to be a wholly owned subsidiary with effect from 30 Sep 2026.
• Estimated sale consideration around ₹145 crore.
• Purva Ruby turnover ₹25,38,89,035; Puravankara turnover ₹2,399,01,37,354; 1.06% contribution.
• Purva Ruby's net worth is negative; contribution to Puravankara's net worth is Nil.
• SPA signed 30 Jun 2026; connected documents signed 06 Jul 2026; transfer completed 30 Sep 2026.
• Not a related party transaction.
• Sale outside Scheme of Arrangement; not an undertaking under CA 2013; shareholder approval not required.
• Complies with Regulation 37A LODR.
• Buyer: Prishal Office Parks III Private Limited.
• Buyer not part of promoter group.
• Buyer owned by ICICI Prudential Office Yield Optimiser Fund II.
• Investment manager: ICICI Prudential Asset Management Company Limited.

Insider trading violation and action

• Intimation of violation of Puravankara’s Code of Conduct under SEBI PIT Regulations.
• Designated Person: Mr. Prashanth S K, Senior General Manager - Projects Technical.
• Trade: 1,300 equity shares sold on 11-09-2026 for ₹2,73,125.94.
• Date of intimation to the company by DP: 29-09-2026.
• Penalty: Rs 5,000 remitted to SEBI Investor Protection and Education Fund.
• Payment was made online; transfer details: UTR 141749903592; date 30-09-2026.
• Reason: disclosed as inadvertent, not in possession of unpublished price sensitive information.
• Company action: written warning; no disgorgement due to loss.
• Company states zero tolerance for Code of Conduct violations.

AGM Details

• AGM held Sep 25, 2026, 2:00 PM–2:55 PM, via VC/OAVM.

Key Resolutions

• Ordinary: Adoption of standalone and consolidated financial statements for FY ended 31 March 2026.
• Ordinary: Re-appointment of the Managing Director by rotation.
• Ordinary: Ratification of remuneration payable to Cost Auditor for 2026-27.

Voting Status

• Results of remote and AGM voting to be announced within two working days.
• Results to be posted on company and NSDL websites.

Director Changes

• Proposed re-appointment of Managing Director by rotation.

Auditors

• Cost Auditor remuneration to be ratified; no change to statutory auditors.
• Statutory and Secretarial audit reports had no qualifications.

Puravankara Limited: Trading Window to close from Oct 01, 2026; reopen 48 hours after the declaration of the un-audited standalone and consolidated financial results for the quarter and half-year ending Sep 30, 2026.

Key developments

• 44-acre land parcel allotted in Greater Noida via subsidiary Prudential Housing and Infrastructure Development Limited.
• Parcel offers saleable area of ~4.57 million sq ft; GDV ~ Rs 5,200 crore.
• First entry into Delhi-NCR; largest land transaction for FY27 to date.
• FY27 pipeline across NCR, Mumbai, Bengaluru totals 10.74 million sq ft and Rs 14,100 crore GDV.

Project Update

• Provident Housing Limited launched Provident Equinox 6, Phase 6 of the project.
• Launch date: September 20, 2026.
• RERA registration PRM/KA/RERA/1251/310/PR/180926/008948.

Financial performance

• FY26 consolidated revenue from operations: ₹3,739.83 Cr.
• FY26 consolidated total income: ₹3,846.42 Cr.
• PAT (consolidated): ₹56.75 Cr.
• Consolidated EPS: ₹2.69.
• Standalone EBITDA margin: 21% FY26.

Capital structure and liquidity

• Net debt: ₹2,321 Cr.
• Debt-to-equity: 1.31x.
• Undrawn facilities: ₹134.04 Cr as of 31 Mar 2026.
• Dividend not declared for FY26.
• GDV potential from new launches: ₹8,343 Cr.

Operations & growth

• GDV potential from new launches: ₹8,343 Cr.

Redevelopment win

• Redevelopment rights for three Goregaon West societies in Mumbai.
• Developable area: 4.68 acres; ~1.05 million sq ft.
• Estimated GDV: ₹2,600 crore.
• Eighth redevelopment project in Mumbai.

Financial and portfolio metrics

• GDV for Goregaon West: ₹2,600 crore.
• Mumbai redevelopment portfolio GDV: ₹17,500 crore.
• Total land bank: ~40 msft; ongoing projects: ~35.14 msft.

Operational and corporate context

• Completed 97 projects totaling ~59 msft across nine cities.
• Redevelopment remains a key growth engine for Mumbai expansion.