Puravankara Q2 pre-sales rise 62% to Rs 2,136 crore

What the company reported

Puravankara Limited, which is listed on the NSE (PURVA) and the BSE (532891), released its second-quarter FY27 business update on 13 October 2026 as a stock exchange intimation under the listing regulations. The quarter ran from 1 July to 30 September 2026.

Pre-sales were Rs 2,136 crore, up 62% from Rs 1,322 crore in the same quarter of FY26. They were also above the Rs 1,439 crore booked in the June quarter.

Managing Director Ashish Puravankara said the focus is on scaling the business while keeping discipline in pricing, capital deployment and execution. That is a statement from the company, not from a regulator.

Volume, price and collections

The company sold 1.83 million sq ft in the quarter, up 22% on the year. Average price realisation rose 32% to Rs 11,651 per sq ft, which means the value growth came mostly from higher prices rather than volume alone.

Customer collections rose 24% to Rs 1,301 crore. Collections grew more slowly than pre-sales, a gap that some market commentators pointed out. One commentator said higher per-square-foot prices usually mean higher-value inventory, which tends to take longer to convert into collections.

Handovers and completions

The company handed over 977 homes covering 0.97 million sq ft in the quarter, bringing first-half FY27 handovers to 1,722 homes covering 1.92 million sq ft.

Completions in the quarter were 0.41 million sq ft at One Park Avenue, Mumbai, made up of Avenue 1 (Panorama) at 0.26 million sq ft and Avenue 6 (Panorama) at 0.15 million sq ft. First-half completions totalled 2.13 million sq ft.

Land additions

In Q2, the company added 6.51 million sq ft of potential developable area, with an estimated gross development value (GDV) of Rs 8,900 crore. The company says total pipeline additions for the first half reached 10.74 million sq ft, with a GDV of Rs 14,100 crore.

• Greater Noida, Delhi-NCR: a large land parcel with a GDV of about Rs 5,200 crore, announced on 22 September 2026.
• Doddagubbi, North Bengaluru: joint development of an 11.23-acre parcel, with a potential GDV of over Rs 1,100 crore and 0.74 million sq ft of developable area.
• Mandur, Bengaluru: a 14.57-acre parcel with a GDV of Rs 2,300 crore and 1.80 million sq ft of development potential. Reports place this deal in different quarters, so the exact quarter is unclear from the company's release.
• Mumbai: high-value redevelopment rights, as described in the company's update.

Purva Zentech sale

The company completed the sale of Purva Zentech, a commercial property on Kanakapura Road in Bengaluru, to an entity backed by ICICI Prudential AMC on 30 September 2026. The deal was done by transferring the company's entire shareholding in Purva Ruby Properties Private Limited. The enterprise value was Rs 625.94 crore, and Rs 145 crore will be received through the sale of the SPV's shares, with the balance settled through agreed balance sheet adjustments.

The Zentech park is a mixed-use commercial development of about 9.6 lakh sq ft of leasable and saleable area.

Launches in the quarter

The company launched three projects in Q2 with a combined developable area of 1.00 million sq ft:

• Westend, Bengaluru: 0.26 million sq ft
• Equinox 6, Bengaluru: 0.66 million sq ft
• Miami, Mumbai: 0.08 million sq ft

Including a 0.13 million sq ft phase at Emerald Bay (Tower B12), Pune, launched in Q1, total area launched in the first half of FY27 was 1.13 million sq ft. Miami by Purva in Mumbai received RERA registration effective 18 June 2026, under registration number PR1170002600857.

What it means for buyers, investors and the market

For buyers: The results describe company sales, not individual flat prices. The higher average realisation shows that the company is selling at higher rates per square foot, but this update does not give prices for any specific project.

For investors: Growth in pre-sales and collections was strong, but collections grew more slowly than sales. Land additions and the Purva Zentech sale changed the company's pipeline and cash position. One outlet said investors should watch how fast the newly added projects are built and whether pricing momentum holds. That is that outlet's view, not an official statement.

For the market: The update shows Puravankara entering Greater Noida, a market outside its South Indian base, and expanding in Mumbai. The company describes its Q2 land additions as a diversification of revenue beyond South India.

What comes next

Management said the priority now is to turn its development potential into launches, sales and cash flows, while staying selective about where it deploys capital.

The company has also said it plans to launch 30 new projects across South India and Mumbai, with a combined GDV above Rs 55,000 crore over the next 24 months.

On 9 October 2026, the company allotted 250 NCDs worth Rs 25 crore, completing a Rs 300 crore issue.