In Q2FY26, the company recorded sales of Rs 1,322 crores, up 4% year-on-year, on sales volume of 1.5 million sq. ft. Average realisation rose 7% to Rs 8,814 per sq. ft, while customer collections for the quarter grew 8% year-on-year to Rs 1,047 crores. The company reported total revenue of Rs 663 crores (up by 28%) and net loss of Rs 42 crores for the quarter.
Sharing insights on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, “In Q2FY26, we sustained strong growth momentum driven entirely by sustenance sales, achieving pre-sales of Rs 1,322 crores and collections of Rs 1,047 crores, both increasing year on year. In the first half of the year, we strengthened our development pipeline by adding over 6.36 million sq. ft. of potential developable area with an estimated GDV of Rs 9,100 crore. This includes two marquee redevelopment projects in Mumbai at Chembur and Malabar Hill, and strategic partnerships in North and East Bengaluru, reflecting our focus on expanding in high-demand micro-markets through disciplined capital allocation.
With regulatory clarity now in place following the recent bye-law revisions, we are poised to accelerate our launch pipeline of 12.67 million sq. ft over the next 3 quarters, including a landmark project in Bengaluru spanning 3.4 million sq. ft at KIADB Hardware Park and a redevelopment project in Andheri Lokhandwala, both scheduled for launch in January 2026. Most of our upcoming projects are in the final stages of approval, positioning us well to deliver on our growth plans. While handovers and sales in the first half were marginally impacted by regulatory transitions such as e-Khata implementation and bye-law changes, we remain confident of achieving our targeted handovers in the next two quarters through focused execution and strong operational preparedness.”
Operational Q2FY26 Highlights:
• Total area sold: 1.5 million square feet (msft).
• Total sales value: Rs 1,322 crores.
• Average sales realisation: Rs 8,814 per square foot (psft).
• Collections: Rs 1,047 crores.
Operational H1FY26 Highlights:
• Total area sold: 2.75 million square feet (msft).
• Total sales value: Rs 2,445 crores.
• Average sales realisation: Rs 8,891 per square foot (psft).
• Collections: Rs 1,904 crores.
Consolidated Q2FY26 Financial Performance:
• Total revenue stood at Rs 663 crores.
• Net loss for the quarter was Rs 42 crores.
Consolidated H1FY26 Financial Performance:
• Total revenue stood at Rs 1,201 crores.
• Net loss for the period was Rs 111 crores.
Possession:
• In Q2FY26, Puravankara handed over 663 units, covering 0.67 million square feet, generating total income of Rs 663 crores.
• In H1FY26, the company handed over 1,330 units, covering 1.36 million square feet, generating total income of Rs 1,201 crores.
Projected Cash Flows:
As of 30 September 2025:
• The total estimated surplus from all completed and ongoing projects stands at Rs 7,679 crores.
• The estimated surplus from commercial projects is Rs 2,008 crores.
• The estimated surplus from pipeline projects is Rs 5,881 crores.
• The overall estimated surplus across all categories exceeds Rs 15,568 crores.
Against this, the Company’s net debt stands at Rs 2,894 crores, implying a healthy cover of over 5x.The cost considered for surplus calculation does not include sales & marketing costs, corporate overheads, income tax and future repayment of debt.
Business Development (H1 FY26): 6.36 msft added with potential GDV of Rs 9,100+ crores
• KIADB Hardware Park, North Bengaluru: Partnered with KVN Property Holdings LLP for a 24.59-acre land parcel with 3.48 msft developable area and potential GDV of over Rs 3,300 crores.
• Balegere, East Bengaluru: Entered into a joint development for a 5.5-acre land parcel with developable area of 0.85 msft, which has a combined potential GDV of over Rs 1,000 crores.
• Chembur, Mumbai: Selected as the preferred developer for the redevelopment of eight residential societies, unlocking over 1.28 msft of development potential across ~4 acres, with an estimated GDV of Rs 2,100 crores.
• Malabar Hill, Mumbai: Through its wholly owned subsidiary, Puravankara secured a prestigious redevelopment project with a GDV potential of ~Rs 2,700 crores, offering 0.75 million square feet of premium development on 1.43 acres.
Debt
• The weighted average cost of debt has reduced to 11.32% as of September 30, 2025
• Net debt stood at Rs 2,894 crores, with a net debt-to-equity ratio of 1.77 for Q2 FY26.
Outlook
India continues to be one of the fastest-growing major economies, with GDP growth of 7.8% in Q1 FY26 and the IMF projecting 6.4% growth for the whole year, reflecting a stable outlook ahead. The RBI’s 100 bps rate cut to 5.5% and steady capital inflows of USD 1.5 billion (Rs 131 billion) in Q2 underscore strong investor confidence. Real estate activity remains healthy, led by offices (39%) and data centres (38%), while residential sales and prices have risen 5–10% across key metros such as NCR, Bengaluru, and Chennai. With these positive trends, the sector outlook remains encouraging, and Puravankara is well-positioned to benefit from sustained momentum.
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