Company Results
Puravankara Q2 FY27: Profit Turns Positive as Revenue Rises 59% to Rs 1,051 Crore
Bengaluru-based developer Puravankara Limited reported a consolidated net profit of Rs 83.74 crore for the quarter ended 30 September 2026, against a net loss of Rs 42.99 crore a year earlier. Revenue rose 59% to about Rs 1,051 crore, and a one-time gain from a subsidiary sale helped turn the quarter positive.
| Quarter reported | Q2 FY27, quarter ended 30 September 2026 |
|---|---|
| Announcement date | 2 November 2026 |
| Total revenue | About Rs 1,051 crore, up 59% from Rs 663 crore a year earlier |
| Consolidated net profit | Rs 83.74 crore, against a net loss of Rs 42.99 crore in Q2 FY26 |
| One-time gain | Rs 148.83 crore on the sale of Purva Ruby Properties Private Limited |
| Quarterly sales value | Rs 2,762 crore, up 109%, including about Rs 626 crore from the Purva Zentech divestment |
| Net debt | Rs 2,366 crore, down Rs 470 crore in the quarter |
| Results status | Unaudited, with a Limited Review Report |
What happened
Puravankara Limited, which is headquartered in Bengaluru, announced its results for the second quarter of FY27 on 2 November 2026. The quarter ran from July to September 2026. The company reported both standalone and consolidated figures. The Audit Committee reviewed the statements before the board approved them, and a Limited Review Report accompanies the results. The statements are unaudited.
Total revenue was about Rs 1,051 crore, up 59% from Rs 663 crore a year earlier. Revenue from operations, excluding other income, was Rs 1,032.50 crore against Rs 644.20 crore in the same quarter of FY26. The company said the growth came from higher handovers, better realisations and steady sales across its residential portfolio.
Profit and the one-time gain
The consolidated net profit of Rs 83.74 crore depended on a one-time item. The company booked a gain of Rs 148.83 crore on the sale of its wholly owned subsidiary, Purva Ruby Properties Private Limited. That gain was larger than the pre-exceptional loss of Rs 54.98 crore for the quarter. Some reports round the headline profit to Rs 82 crore.
Consolidated EBITDA was Rs 289 crore, with the margin at 27% against 18% a year earlier. Profit before tax was Rs 94 crore, compared with a loss of Rs 57 crore in Q2 FY26.
On a standalone basis, the company reported total income of Rs 404.46 crore and total expenses of Rs 443.36 crore. The pre-exceptional result was a loss of Rs 38.90 crore. After exceptional items of Rs 144.99 crore and tax, the standalone net profit was Rs 94.31 crore.
An analyst commentary cited in the reporting noted that, before exceptional items, the company showed operating losses at both standalone and consolidated levels. It argued that core operating performance remains under pressure without the one-time income.
Sales, collections and handovers
Quarterly sales value was Rs 2,762 crore, up 109% year on year. That figure includes about Rs 626 crore from the divestment of the Purva Zentech commercial asset. Excluding the divestment, the investor presentation reported sales value of Rs 2,136 crore, up 62%.
| Measure | Q2 FY27 |
|---|---|
| Sales volume (ex-divestment, per investor presentation) | 1.83 million sq ft, up 22% |
| Units sold (per investor presentation) | 1,403 units, up 12% |
| Customer collections | Rs 1,301 crore, up 24% |
| Units handed over, six months to September | 1,722, against 1,330 a year earlier |
Sales volume figures differ between the headline reporting and the investor presentation. The table uses the investor presentation's ex-divestment figures.
Balance sheet and debt
Net debt fell by Rs 470 crore in the quarter to Rs 2,366 crore. The net debt-to-equity ratio dropped to 1.26 times from 1.57 times in the previous quarter. Gross debt was Rs 3,763 crore as of 30 September 2026, down Rs 180 crore from the prior quarter. The cost of debt eased to 10.94% from 11.12%. Closing cash and bank balances were Rs 1,397 crore, up 60% year on year.
On a consolidated basis, total assets were Rs 18,324.48 crore and total equity was Rs 1,883.96 crore.
Divestments and new projects
On 30 September 2026, Puravankara completed the sale of Purva Zentech, a commercial office asset, through the transfer of its entire shareholding in the special purpose company that owned it. The asset value was Rs 625.94 crore, covering about 5.46 lakh sq ft of commercial office space. One report names the buyer as a fund backed by ICICI Prudential AMC. The company's filing describes the buyer only as an entity backed by a mutual fund. The buyer is not part of the promoter or promoter group of Puravankara.
The Purva Ruby Properties sale, for Rs 145 crore to Prishal Office Parks III Private Limited, was completed on 30 September 2026. The unit contributed only 1.06% of the parent company's total turnover, according to reporting on the deal.
During the quarter, the company added projects with an estimated gross development value of Rs 8,900 crore across Bengaluru, Mumbai and Greater Noida. It also entered the Delhi-NCR market through a 13.44-acre land parcel in Greater Noida.
What it means for buyers and investors
The results cover the company as a whole. The filing does not set out project-level changes to prices, possession dates or unit terms.
For investors, the quarter shows two things. Revenue and collections rose, and net debt fell. The profit, however, depends on a one-time sale gain. Tax and legal matters remain open. The company is contesting several of them, including a notice under the Benami Property Transactions Act for which no provision has been made, and income tax assessment disputes totalling Rs 45.08 crore.
Management said the monetisation can free up capital for residential land acquisition and project development.
What comes next
The company's annual sales guidance is Rs 11,200 crore. Including the Purva Zentech monetisation, the company has reported Rs 4,200.94 crore, or 37.51% of that guidance, for the first half of FY27. Progress against the target will be visible in future quarterly updates.
The full unaudited statements and the Limited Review Report are published on the company's website, puravankara.com.
Frequently asked questions
Did Puravankara make a profit in Q2 FY27?
Yes. The company reported a consolidated net profit of Rs 83.74 crore for the quarter ended 30 September 2026, compared with a net loss of Rs 42.99 crore a year earlier. The profit includes a one-time gain of Rs 148.83 crore from the sale of a subsidiary.
What was the one-time gain?
The company booked a gain of Rs 148.83 crore on the sale of Purva Ruby Properties Private Limited, a wholly owned subsidiary. The sale was completed on 30 September 2026 for Rs 145 crore.
How much did revenue grow?
Total revenue was about Rs 1,051 crore, up 59% from Rs 663 crore in Q2 FY26.
What is the Purva Zentech sale?
Puravankara completed the divestment of Purva Zentech, a commercial office asset of about 5.46 lakh sq ft, on 30 September 2026. The asset value was Rs 625.94 crore. The sale was made by transferring the company's shareholding in the special purpose company that owned the asset.
Are these results audited?
No. The results are unaudited. A Limited Review Report accompanies the statements, and the Audit Committee reviewed them before board approval.