Puravankara slips 5% after posting ₹68 crore Q1 loss; check details here

Business Standard

3 days ago

Shares of Puravankara fell over 5 per cent on Monday after the company posted a loss of ₹68.55 crore in the first quarter of the financial year 2026 (Q1FY26).
The real estate company's stock fell as much as 5.45 per cent during the day to ₹252.2 per share, the steepest intraday loss since June 2 this year. The stock pared losses to trade 2.51 per cent lower at ₹259.80 apiece, compared to a 0.33 per cent advance in Nifty 50 as of 12:37 PM.
Shares of the company have fallen for the fifth straight session and currently trade at 1 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 32 per cent this year, compared to a 3.3 per cent advance in the benchmark Nifty 50. Puravankara has a total market capitalisation of ₹6,161.15 crore.
Puravankara Q1 results
Bengaluru-headquartered realtor reported a net loss of ₹68.55 crore in Q1FY26, as compared to a net profit of ₹14.78 crore in the same quarter the previous year, driven by a dip in handovers and sales due to regulatory changes.
The company's revenue from operations narrowed to ₹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 ₹857 crore.
'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.
Puravankara management commentary
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 ₹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.