Bengaluru: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported a strong start to FY27, backed by improving realisations and disciplined execution across its residential and commercial portfolio.
Puravankara reported a Profit After Tax (PAT) of ₹25 crore in Q1FY27, compared to a loss of ₹69 crore in Q1FY26, while EBITDA margin expanded to 25% from 15%. The company handed over 745 homes covering 0.94 msft during the quarter, up from 667 units in Q1FY26, sustaining the execution momentum built through FY26.
Total revenue for Q1FY27 stood at ₹877 crore, up 63% YoY from ₹539 crore in Q1FY26. Operating inflows for the quarter stood at ₹1,423 crore, against operating outflows of ₹1,078 crore, resulting in an operating surplus of ₹345 crore.
In Q1FY27, the company recorded pre-sales of ₹1,439 crore, up 28% year-on-year, on sales volume of 1.36 million sq. ft. across 1,017 units. Average realisation rose 18% to ₹10,589 per sq. ft., while customer collections for the quarter grew 40% year-on-year to ₹1,199 crore, the highest first-quarter collections in three years.
Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, “Q1FY27 reflects the continued strengthening of our operating performance, with healthy growth in revenue, pre-sales and collections, alongside improved margins. As our portfolio progresses through completion and handover, we expect this execution momentum to support earnings visibility, with 2,777 completed units currently pending revenue recognition.
We continue to balance growth with disciplined capital allocation. During the quarter, we added ₹5,200 crore of GDV through four land transactions in Bengaluru. Further, the Purva Zentech transaction with ICICI Prudential AMC reinforces our focus on capital efficiency. With a strong launch pipeline and an estimated surplus of ₹19,831 crore over the next 3-5 years, we remain focused on delivering our FY27 sales guidance of ₹11,200 crore.”
Q1FY27 Highlights
Total area sold: 1.36 msft, up 9% year-on-year
Total sales value: ₹1,439 crore, up 28% year-on-year
Total units sold: 1,017
Average sales realisation: ₹10,589 psft, up 18% year-on-year
Collections: ₹1,199 crore, up 40% year-on-year
Total revenue stood at ₹877 crore, up 63% year-on-year
Profit after tax stood at ₹25 crore, against a loss of ₹69 crore in Q1FY26
EBITDA margin expanded to 25%, from 15% in Q1FY26
Possession
In Q1FY27, the company handed over 745 units, covering 0.94 msft, compared with 667 units in Q1FY26.
As of June 30, 2026, 3.20 msft of completed inventory (2,777 units) is pending revenue recognition.
The company completed 1.72 msft across ten towers and phases during the quarter: 1.00 msft in Goa (Provident Adora De Goa, Phases VIII to XI), 0.51 msft in Pune (Emerald Bay Towers B-2 and B-3, and Purva Aspire) and 0.21 msft in Mumbai (Purva Clermont, Wings A, D and E).
Projected Cash Flows:
As of June 30, 2026:
The total estimated surplus from ongoing projects stands at ₹8,976 crore.
The estimated surplus from commercial projects is ₹2,220 crore.
The estimated surplus from pipeline projects is ₹8,636 crore.
The overall estimated surplus across all categories stands at ₹19,831 crore over the next three to five years.
Debt
Gross debt stood at ₹3,942 crore as of June 30, 2026, reduced by ₹74 crore during the quarter even as the company deployed ₹574 crore towards land payments, advances and deposits.
Net debt stood at ₹2,836 crore, with a net debt-to-equity ratio of 1.57 for Q1FY27.
The cost of debt stood at 11.12% as of June 30, 2026.
Business Highlights (Q1 FY27)
In Q1FY27, Puravankara announced four land transactions in Bengaluru spanning approximately 41.93 acres, with a cumulative development potential of around 4.23 msft.
Mandur, Bengaluru: Secured a 14.57-acre land parcel with an estimated GDV of ₹2,300 crore, offering 1.8 msft of development potential.
Doddagubbi, North Bengaluru: Entered into a joint development agreement for an 11.23-acre land parcel with a potential GDV of over ₹1,100 crore and saleable area of 0.74 msft.
Sarjapura, Bengaluru: Entered into a joint development agreement for a 6.4-acre land parcel with a potential GDV of over ₹1,000 crore and saleable area of 0.8 msft.
Sanna Ammanikere, North Bengaluru: Acquired a 9.73-acre land parcel in the fast-developing airport corridor, with a GDV potential of approximately ₹800 crore and saleable area of 0.89 msft.
Purva Zentech, Bengaluru: Entered into a definitive agreement with ICICI Prudential AMC for the sale of the commercial property at an enterprise value of ₹625.94 crore. Of the total consideration, ₹145 crore will be received through the sale of shares of the SPV, while the balance will be realised through agreed balance sheet adjustments in accordance with the transaction structure.
Launch Pipeline
The company has 20.48 msft of planned launches across the Southern and Western markets, with an approximate GDV of ₹27,300 crore, with the majority of the pipeline concentrated in Bengaluru and Mumbai. The estimated future cash flow potential from total new launches (excluding new phases) is around ₹8,636 crore. The pipeline is supported by a redevelopment portfolio of five projects in Mumbai, representing 2.23 msft of saleable area on the company's share.
Editorial note on reported profitability
Under Ind AS 115 accounting norms, revenue and profit from residential projects are recognised only when homes are handed over, not when they are sold. As a result, there is usually a lag between sales performance and reported earnings.
About Puravankara Limited
The Puravankara Group is one of India's most trusted realty majors, headquartered in Bengaluru with a pan-India presence. Over the past five decades, the Company has been catering to the entire spectrum of housing and plotted development needs. Additionally, Starworth Infrastructure and Construction Limited (SICL), a wholly-owned subsidiary of Puravankara, focuses on technology-enabled construction solutions. The group has also forayed into developing Grade A commercial real estate, with a presence of ~3 msft, and is rapidly expanding its footprint. Additionally, the interior design arm, Purva Streaks, caters to customers looking for an integrated interior design solution.
As of June 30, 2026, Puravankara has completed 97 projects totalling ~59 msft across nine cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The Company's total land bank is ~38 msft, and ongoing projects add up to 35.14 msft.
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