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Puravankara posts ₹68.55 crore net loss in Q1FY26, revenue down 20%
'Our handovers and sales were less than our expectations due to regulatory changes, including e-Khata and changes in byelaws. However, our team is confident of achieving the scheduled handover and launches,' said Ashish Puravankara, Managing Director, Puravankara.
Further, the company's revenue from operations narrowed to Rs 524.4 crore, down 20.3 per cent in the quarter. On a sequential basis, revenue was down 4.44 per cent.
In Q1FY26, the company recorded sales of Rs 1,124 crore, up 6 per cent year-on-year, on sales volume of 1.25 million square feet. The average realisation rose 9 per cent to Rs 8,988 per square foot, while collections stood at Rs 857 crore.
Additionally, the weighted average cost of debt reduced to 11.35 per cent as compared to the previous quarter. Net debt stood at Rs 2,825 crore, with a net debt-to-equity ratio of 1.68 in Q1FY26.
The company said that the total estimated surplus from all completed and ongoing projects stands at Rs 7,915 crore. Of this, commercial projects contribute Rs 1,934 crore, while pipeline projects are expected to generate Rs 5,578 crore. The overall estimated surplus across all categories exceeds Rs 15,427 crore.
Puravankara noted that while regulatory changes, including the e-Khata process, have impacted handover and revenue recognition timelines, it remains on track to deliver over 4,500 units during the financial year. Of the planned handovers, 3.65 million square feet (3,015 units) have been completed and Occupancy Certificates (OCs) received, and are currently pending e-Khata issuance for final possession handover. In Q1FY26, the company handed over 667 units covering 0.68 million square feet, generating revenue of Rs 539 crore.
As of 30 June, Puravankara has completed 92 projects measuring approximately 54 million square feet across nine cities, including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa. The company's total land bank is approximately 30 million square feet and ongoing projects add up to 35.75 million square feet.
Puravankara announced its earnings after market hours on Friday. At the time of the close, the company's shares were trading at Rs 266.5 apiece, up 0.95 per cent, on the BSE.
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