Puravankara Closes FY25 with Rs 3,937 Cr Collections, Up 9% YoY; Enters Golden Jubilee Year
Bengaluru (Karnataka) [India], May 31: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, announced its results for the quarter ending March 31, 2025, and consolidated results for FY25. The year was marked by continued expansion across strategic markets, disciplined capital allocation, and laying the groundwork for future growth.
In Q4FY25, Pre-sales stood at Rs 1,282 crore, driven by a sales volume of 1.42 million square feet and healthy collections of Rs 946 crore. Total revenue for the quarter stood at Rs 564 crore.
For FY25, the company achieved robust pre-sales of Rs 5,006 crore, with a sales volume of 5.67 million square feet and a 10% year-on-year increase in sales realisation to Rs 8,830 per square foot. Collections for the year stood at Rs 3,937 crore, reflecting a 9% growth over the previous year. Total revenue came in at Rs 2,093 crore, while operating cash inflows grew by 10% YoY to Rs 4,342 crore.
Commenting on the company's strategic direction, Ashish Puravankara, Managing Director, Puravankara Limited, said, "We have entered our Golden Jubilee year with a clear focus on growth, backed by bold investments and disciplined execution. FY25 saw record sustenance sales, and our western India investments are now poised to come to market. We are also actively pursuing several major redevelopment projects. With over 13.5 million sq. ft. in the pipeline group-wide, and key approvals in place, we are optimistic about delivering long-term value to all stakeholders while reinforcing our legacy of trust and innovation."
Kicking off FY26 on a strong note, the company announced a strategic joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru's KIADB Hardware Park. With an estimated gross development value (GDV) of over Rs 3,300 crore and a saleable area of 3.48 million square feet, the project further strengthens the Group's launch pipeline and regional dominance.
During FY 24-25, Puravankara expanded its presence in Western India by acquiring four marquee projects, including redevelopment projects, across Lokhandwala, Pali Hill, Breach Candy, and Thane, unlocking a combined Gross Development Value (GDV) potential of over Rs 9,500 crore. These investments reflect the company's commitment to derive 40% of future revenues from Mumbai and Pune, supported by strong demand and premium positioning in these micro-markets.
In March 2025, the company successfully launched its much-awaited project, 'Purva Panorama' in Thane, Mumbai, with a total development potential of 3 million square feet and an estimated GDV of Rs 4,000 crore. The project received an excellent response, commencing with Tower C, which covers 0.52 million square feet. The company is poised for substantial growth in its West portfolio.
The Company continues to invest in its Grade A commercial portfolio, with nearly 2 million sq. ft. expected to receive occupancy certificates (OCs) in FY26, thereby enhancing annuity income visibility.
Despite approval delays that impacted some project launches--including regulatory shifts such as the new e-khata policy--approvals have now begun to come through, setting the stage for a more active launch calendar in the coming quarters. The company has delivered approximately. 3.09 million square feet in FY25 and is expecting occupancy certificates (OC) for key projects like Atmosphere, Oakshire, Capella in Bengaluru & Adora De Goa in Goa in FY26 with a total saleable area of 3.95 million square feet and a total GDV of Rs 3200 crore. This will enable a ramp-up in handovers and revenue recognition in the coming quarters.
Aligned with its Golden Jubilee vision, Puravankara has also initiated changes as part of a company-wide effort to drive operational synergy and further enhance the customer experience. These initiatives are geared toward better integration across its portfolio, leading to better delivery timelines, increased transparency, and overall improved execution efficiency.
As the Indian real estate market matures and consolidates, Puravankara continues to build for the long term, with a robust land bank, premium market presence, and a customer-first approach that has stood the test of five decades.
Yearly Performance Summary (FY25)
- Area sold: 5.67 msft
- Sales value: Rs 5,006 crore
- Sales realisation: Rs 8,830/sft
-Total Revenue: Rs 2,093 crore
- Loss: Rs 186 crore
Quarterly Performance Summary (Q4FY25)
- Area sold: 1.42 msft
- Sales value: Rs 1,282 crore
- Sales realisation: Rs 9,031/sft
- Total Revenue: Rs 564 crore
- Loss: Rs 88 crore
Projected Cash Flows
As of 31st March 2025,
- Total estimated surplus from all completed and ongoing projects is Rs 8,505 crore.
- The estimated surplus from commercial projects stood at Rs 1,870 crore.
- The estimated surplus from the launch pipeline stood at Rs 5,574 crore.
- The total estimated surplus stood at Rs 15,949 crore.
Debt
The company's net debt stood at Rs 2,949 crore, and the net debt-to-equity ratio stood at 1.70 as of 31st March 2025. The weighted average cost of debt stood at 11.85% as of 31st March 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
Acquisition of another 97 Tejas, 6 AEW&C aircraft gets CCS nod
New DELHI: India on Tuesday gave the final nod for acquisition of another 97 indigenous Tejas fighter jets and six advanced airborne early-warning and control (AEW&C) aircraft or "eyes in the sky", collectively worth around Rs 85,500 crore, which will be crucial to tackle the collusive and 'fused' challenge from China-Pakistan in the years ahead. The PM-led cabinet committee on security (CCS) approved the Rs 66,500 crore deal for 97 "improved" Tejas Mark-1A fighters to be produced by Hindustan Aeronautics Limited (HAL), which will add to the 83 such single-engine light combat aircraft already ordered from defence PSU under a Rs 46,898 crore deal inked in Feb 2021, top sources told TOI. "The first two jets of the 83 ordered earlier are fully ready. The final weapons firing trials (including Astra air-to-air missiles) are slated for Sept. With the order for another 97 jets, HAL will be able to expand and stabilise its supply chains," a source said. Faced with flak from IAF chief Air Chief Marshal A P Singh for huge delays in deliveries, HAL has promised to progressively scale up production to 20 Tejas per year, and then to 24-30 per year, with the third production line now fully functional in Nashik to add to the two existing ones at Bengaluru, apart from private sector supply chains. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Keep Compliance Easy With These Identity Governance Tools AskLayers Learn More Undo The project for six AEW&C aircraft, which will entail mounting active electronically scanned array antenna-based radars, electronic and signal intelligence systems on second-hand Airbus-321 planes bought earlier from Air India, in turn, will cost Rs 19,000 crore. "All six AEW&C aircraft will be delivered by 2033-34," the source said. Timely induction of the 180 Tejas Mark-1A fighters is needed to stem rapid depletion in the number of IAF fighter squadrons (each has 16-18 jets), which will go down to its lowest-ever figure of 29 squadrons next month after retirement of the 36 old MiG-21s still in service. IAF, incidentally, is authorised 42.5 combat squadrons. Pakistan now has 25 fighter squadrons, and is slated to get at least 40 J-35A fifth-generation stealth jets from China in the near future. China, of course, has more than four times the number of fighters, bombers and force-multipliers as compared to India. In the AEW&C arena, which are required to boost surveillance capabilities along the borders as well as help direct friendly fighters during air combat with enemy jets, India lags far behind even Pakistan. IAF currently has just three Netra AEW&C Mark-1 planes, with indigenous sensors mounted on Brazilian Embraer-145 jets for 240-degree radar coverage, and three Israeli 'Phalcon' radars mounted on Russian IL-76 aircraft. The new AEW&C project will involve the A-321 narrow-body aircraft first being "hardened and modified" in Spain and then being equipped with an antenna in the nose in addition to the main dorsal antenna to give 300-degree radar coverage. To make up numbers, defence ministry in March also accorded the initial "acceptance of necessity" to a separate project for six Netra Mark-1A on Embraer-145 jets, with more advanced technologies than the first three Mark-1 aircraft. On the Tejas front, IAF till now has got 38 of the first 40 Tejas Mark-1 fighters ordered for Rs 8,802 crore under two contracts inked in 2006 and 2010.
Time of India
26 minutes ago
- Time of India
Spike in construction cost poses a challenge to Kol affordable housing
Kolkata: Rising construction costs have emerged as a major challenge for developers of affordable housing, which makes up the biggest share of the residential market in Kolkata. According to a study by real estate consultancy firm Anarock, while labour expenses have increased by 150% since 2019, raw material costs have risen by 40% during the same period. With margins thin in this price-sensitive market, the increase in prices has led to a drop in sales. Construction costs range between Rs 1,500 and 2,500 per sqft for affordable homes in the city. In the past three years, construction costs increased by 27.3%. In Oct 2021, the average cost for grade A projects in a tier-1 city was around Rs 2,200 per sqft. By Oct 2024, it went up to around Rs 2,800 per sqft. Though cement prices declined by a significant 15% last year, steel prices dropped by only 1%. However, in five years, the cost of both materials has increased by 30–57%. Copper prices increased by 19% in one year and as high as 91% in five years (2019–2024). Purti Realty MD Mahesh Agarwal acknowledged that while demand in the segment remains strong, supply has dipped as many developers have shifted focus towards luxury housing where customer aspirations are evolving. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it better to shower in the morning or at night? Here's what a microbiologist says CNA Read More Undo "Affordable projects require larger land parcels, which are scarce in well-connected areas, making them less viable," he said. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata | Gold Rates Today in Kolkata | Silver Rates Today in Kolkata However, the proposed GST reforms could help address the strain to some extent, keeping costs stable and ensuring that there is enough affordable housing in Kolkata. "The revised GST structuring signalled by the govt can make a positive difference to construction costs. It has been proposed that there will only be two key rates of 5% and 18%, and that GST on cement will be reduced from 28% to 18%. This would be a major relief as it would decrease the overall tax burden. Developers will have to pay less for cement, steel, and other inputs and will also benefit from simplified regulatory compliance," said Anarock Group executive director and head (research & advisory) Prashant Thakur. CREDAI Kolkata president Apurva Salarpuria said the revision in GST rates could potentially lower the construction cost by around Rs 150 per sqft, which the developers can then pass on to the buyers to rejuvenate the market. "In affordable housing, the biggest component is construction cost, followed by land. We also hope the govt will revise the definition of affordable housing upwards to Rs 60-65 lakh," he said. CREDAI West Bengal president Sushil Mohta said approval cost, sanction fees, mutation fee and other charges have also gone up significantly. "Further, there is a huge cost of interest and overhead which adds to project cost due to the time taken for mutation conversion, urban land clearance, and other land related issues. Top developers can still absorb the costs and offer affordable housing while the profit margin tapers down but small developers cannot," he pointed out. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Business Standard
30 minutes ago
- Business Standard
IVCA Secondaries Conference 2025 to Spotlight Liquidity, Continuity, and Growth in India's Private Markets
NewsVoir Mumbai (Maharashtra) [India], August 19: The Indian Venture and Alternate Capital Association (IVCA), India's apex industry body for alternative assets, is set to host the IVCA Secondaries Conference 2025 in Mumbai on 21st August 2025. With Blume Ventures, Foundation Private Equity, Madison India Capital, Morgan, Lewis & Bockius, PwC, TPG NewQuest, and YourNest Venture Capital as partners, the conference will bring together leading limited partners (LPs), general partners (GPs), family offices, and policymakers to deliberate on the future of India's secondaries market. The conference comes at a time when AIF commitments have reached approx Rs. 13.5 lakh crore as of March 2025, and a growing number of funds are approaching mid-to-late-stage of their fundcycle. As per UBS, globally, the secondary market reached $156 billion in transaction volume in 2024, a 35% increase over 2023 and 14% higher than the previous record of $136 billion in 2021. GP-led transactions totalled $70 billion--a 31% YoY increase--dominated by continuation funds, which accounted for over 85% of GP-led volumes. Rajat Tandon, President, IVCA, said, "India's alternate capital industry is entering a new phase of maturity, and the secondary market is at an inflection point. We expect it to play a transformational role by unlocking liquidity, optimising capital, and providing continuity through secondary transactions, whether LP-led or GP-led (including continuation funds). India has an opportunity to become one of the fastest-growing secondary markets in Asia, strengthening investor confidence and accelerating how our ecosystem evolves." Bringing a unique blend of domestic and international perspectives, the IVCA Secondaries Conference featured a line-up of leading voices from the investment space, such as Ashish Fafadia (Blume Ventures), Cheng Chee Mun (57 Stars), Divya Thakur (Morgan, Lewis & Bockius), Dominic Goh (HarbourVest), Jason Sambanju (Foundation Private Equity), Koon Kiat Poh (Axiom Asia), Kunal Shah (PW & Co LLP), Mamtesh Sugla (TPG NewQuest), Norbert Fernandes (Kenro Capital), Peter Lui (LGT Capital Partners), Rohit Agarwal (Aksia), Rohit Bhayana (Oister Global), Satish Mugulavalli (Hissa Fund), Shivani Bhasin Sachdeva (India Alternatives), Sunil Goyal (YourNest Venture Capital), Surya Chadha (Madison India Capital), Samip Barlota (Price Waterhouse & Co LLP), Swaroop Gudla (Headlands Capital), Ted Craig (Morgan, Lewis & Bockius), William Lo (Hamilton Lane) among many others. Ashish Fafadia, Partner, Blume Ventures, said, "Secondaries have become a very important source of DPI generation for the alternatives industry as a whole, not only in India, but also globally. Of late, it has also been emerging as a very useful asset class within AIFs and alternatives as a category for Indian family offices, institutional investors, and ultra-HNIs alike. We have had the chance to raise secondaries and continuity funds for Blume over the last five years, and we look forward to sharing some of these experiences." Jason Sambanju, Partner, CEO & Founder, Foundation Private Equity, said, "Secondaries in India has come of age. I cannot recall another point in time over the last 18 years when the quality of deal flow--in terms of both fund managers and underlying portfolios--has been as consistent and as good as now. As an Asian GP-led secondaries specialist, India remains a core market for us, and we look forward to continuing to work with IVCA to further develop this market." "India's direct secondaries market has evolved from a niche solution into a meaningful driver of value creation. This growth is expanding liquidity, drawing greater institutional participation, and strengthening the foundations of India's private equity ecosystem. We are proud to play a role in this transformation as a trusted liquidity partner to the country's private equity and venture capital community. Over the past decade, we have delivered liquidity to more than 500 shareholders and provided exits to over 25 leading institutional investors--many of whom have returned to us for repeat solutions. These milestones underscore the rising demand for direct secondaries and point to a future where GPs have greater flexibility to optimize portfolios, recycle capital, and pursue strategic realignments," said a spokesperson for Madison India Capital. "Secondaries, including continuation funds, are playing an instrumental role in unlocking capital and providing liquidity to investors with the flexibility for fund managers to continue to play a strategic role in unlocking the true potential of a portfolio and achieving growth from a long term perspective. For India's growing private equity sector, this means more flexibility, deepening of the market, driving sustainable growth, value realisation in the long term, etc. which is evolving the investment landscape in India," said Kunal Shah, Partner, Price Waterhouse & Co LLP. Mamtesh Sugla, Managing Director, TPG NewQuest, said, "The secondaries market has rapidly evolved into a core portfolio management tool that allows GPs to structure liquidity while also offering the flexibility of compounding trophy assets. At TPG NewQuest, we continue to deepen our commitment to this space through marquee GP-led transactions, in addition to direct secondary business. With access to the full TPG ecosystem, TPG NewQuest has created a distinct position within the Asian secondary market by partnering with experienced GPs and taking a sector-driven, asset-first approach to underwriting. Through thoughtful asset selection and collaborative engagement, we have seen how innovative GP-led solutions can unlock enduring value. The IVCA Secondaries Summit provides an important platform for industry stakeholders to exchange ideas and advance the continued evolution of this rapidly growing segment." Sunil K. Goyal, Managing Director, YourNest Venture Capital, said, "YourNest's association with IVCA goes back a long way, and we genuinely appreciate the contribution made to furthering India's startup industry. By encouraging entrepreneurship and helping create policies that are founder-first, IVCA has helped put India on the global startup map. This particular event is very close to our heart: as a specialist DeepTech fund, we understand the need for patient capital and the value of longer-term investor-founder relationships. That's why we believe that secondaries in the form of continuation vehicles must be a primary focus for the industry in these volatile, uncertain times. Personally, I am very happy to be part of this landmark event, and look forward to making things better for all our founders and investors." Through a series of insightful sessions, the IVCA Secondaries Conference will encourage collaboration and strategic thinking, enabling stakeholders to align on priorities, share best practices, and position India's secondaries market as a globally competitive ecosystem. The discussions here will help shape policy frameworks and market practices that drive growth and unlock promising opportunities for investors and fund managers alike. The Indian Venture and Alternate Capital (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 460+ funds with a combined AUM of over $350 billion. Our members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.
