Bengaluru (Karnataka) [India], August 9: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, announced its financial results for the first quarter (Q1FY26) ending June 30, 2025.\n\nIn Q1FY26, the company recorded sales of Rs 1,124 crores, up 6% year-on-year, on sales volume of 1.25 million sq. ft. The average realisation rose 9% to Rs 8,988 per sq. ft, while collections stood at Rs 857 crores.\n\nCommenting on the company's performance, Mr Ashish Puravankara, Managing Director, Puravankara Limited, said, "This year marks our Golden Jubilee, and we are proud of the trust our customers have placed in us as well as the milestones we have achieved on this journey. In this quarter, we delivered a strong performance, with a 6% year-on-year increase in pre-sales, supported by healthy customer interest in our ongoing projects. Healthy collections for the quarter underscore the continued confidence that homebuyers have in our developments.\n\nOur handovers and sales were less than our expectations due to regulatory changes, including e-Khata and changes in byelaws. However, our team is confident of achieving the scheduled handover and launches.\n\nOur recent land acquisitions with an aggregate GDV potential of Rs 6,400 crores have further strengthened our growth pipeline. In Mumbai, redevelopment continues to gain traction, with our appointment as the preferred developer for eight housing societies in Chembur (GDV over Rs 2,100 crores). In the South, we have entered a JV for a 24.59-acre parcel near the airport in North Bengaluru (GDV over Rs 3,300 crores) and signed a JDA for a 5.5-acre parcel in Balegere, East Bengaluru (GDV over Rs 1,000 crores). These additions diversify our portfolio and position us strongly for sustained growth.\n\nOperational Q1FY26 Highlights:\n* Total area sold: 1.25 million square feet (msft)\n* Total sales value: Rs 1,124 crores\n* Average sales realisation: Rs 8,988 per square foot (psft)\n\nConsolidated Q1FY26 Financial Performance:\n* Total revenue stood at Rs 539 crores\n* Net loss for the period was Rs 69 crores\n* Collections: Rs 857 crores\n\nPossession:\n* While regulatory changes such as the e-Khata process have impacted handover and revenue recognition timelines, we remain on track for the planned delivery of over 4,500 units during the financial year\n* Out of planned handovers, 3.65 million square feet (3,015 units) have been completed and Occupancy Certificates (OC) received; these are currently awaiting e-Khata issuance for handover possession\n* In Q1FY26, we handed over 667 units, covering 0.68 million square feet, generating revenue of Rs 539 crores\n\nProjected Cash Flows:\nAs of 30 June 2025:\n* The total estimated surplus from all completed and ongoing projects stands at Rs 7,915 crores\n* The estimated surplus from commercial projects is Rs 1,934 crores\n* The estimated surplus from pipeline projects is Rs 5,578 crores\n* The overall estimated surplus across all categories exceeds Rs 15,427 crores\n* The cost considered for surplus calculation does not include sales & marketing costs, corporate overheads, income tax and future repayment of debt\n\nLaunches:\n* Changes in byelaws and regulatory processes temporarily impacted the launch schedule. However, with the revised byelaws now notified, the company is back on track to launch 12.32 million square feet as per the planned timeline\n* During the quarter, the company launched 1.16 million square feet across various phases of ongoing projects\n\nBusiness development:\n* Puravankara was selected as the preferred developer for eight redevelopment housing societies in Chembur, Mumbai, with a Gross Development Value (GDV) of over Rs 2,100 crores\n* Entered into a joint venture for a 24.59-acre land parcel near Bengaluru International Airport, with a GDV of over Rs 3,300 crores\n* Signed a Joint Development Agreement (JDA) for a 5.5-acre parcel in Balegere, East Bengaluru, with a GDV of over Rs 1,000 crores\n\nDebt:\n* The weighted average cost of debt has reduced to 11.35% as of June 30, 2025, compared with last quarter\n* Net debt stood at Rs 2,825 crores, with a net debt-to-equity ratio of 1.68 for Q1 FY26\n\nIndia's real estate sector is expected to continue demonstrating strong growth potential in FY26, supported by sustained end-user demand, improved affordability, and a favourable policy environment. Office leasing momentum remains robust, with nearly 49 million sq. ft. absorbed in H1CY25, while residential sales are projected to grow 5-7% through FY25-26, according to industry estimates. The recent rate cuts by the RBI have further boosted consumer sentiment and purchasing power. Puravankara is well-poised for continued expansion and is confident in its ability to capture emerging opportunities across key micro-markets.

Puravankara clocks revenue of Rs 539 Crores, GDV of new land acquisitions at Rs 6,400 Crores in Q1FY26

Puravankara Limited, a leading Indian real estate developer, reported its Q1FY26 financial results, recording total revenue of Rs 539 crores and a net loss of Rs 69 crores. The company achieved sales of Rs 1,124 crores on a volume of 1.25 million sq. ft, with an average realisation of Rs 8,988 per sq. ft. Collections stood at Rs 857 crores. The company highlighted strong customer interest and confidence in its projects despite regulatory challenges such as e-Khata and byelaw changes. It reported new land acquisitions with a combined Gross Development Value (GDV) of Rs 6,400 crores, including a redevelopment project in Chembur, Mumbai (GDV over Rs 2,100 crores), a joint venture for a 24.59-acre parcel near Bengaluru International Airport (GDV over Rs 3,300 crores), and a Joint Development Agreement (JDA) for a 5.5-acre parcel in Balegere, East Bengaluru (GDV over Rs 1,000 crores). The company also noted that 3.65 million sq. ft (3,015 units) have received Occupancy Certificates and are awaiting e-Khata issuance. Despite regulatory delays, the company remains on track to deliver over 4,500 units in the financial year and launch 12.32 million sq. ft as per the revised timeline. The weighted average cost of debt is 11.35%, and net debt stands at Rs 2,825 crores with a net debt-to-equity ratio of 1.68. Industry analysts project continued growth in India's real estate sector due to strong demand, improved affordability, and favorable policy environments.