Puravankara reports strong Q2/H1 FY26 pre-sales, collections; expands project pipeline with ₹9,100 crore GDV.
Puravankara's Q2/H1 FY26 saw robust pre-sales growth and collections. Despite a reported loss due to accounting, the company announced significant project pipeline additions totaling ₹9,100 crore GDV and outlined strong future launch plans.
The announcement details significant financial performance with growth in pre-sales and collections, substantial new project acquisitions (₹9,100 crore GDV), and a strong future launch pipeline (₹12,000 crore inventory). These factors indicate a high potential impact on the company's future revenue and market position.
The company reported robust pre-sales growth and customer collections, alongside substantial additions to its project pipeline and clear plans for future launches. While a Q2 loss was reported, it was attributed to accounting timing and strategic investments, with management emphasizing strong underlying cash flows and fundamentals.
Puravankara Limited has released the transcript of its earnings call held on 10 November 2025, discussing the un-audited standalone and consolidated financial results for the quarter and half-year ended 30 September 2025. * Q2 FY26 Financial & Operational Highlights: * Pre-sales: ₹1,322 crore, a 4% increase from ₹1,270 crore in Q2 FY25, driven solely by sustenance sales. * Average price realization: Rose 7% year-on-year to ₹8,814 per square feet. * Customer collections: Reached ₹1,047 crore, up 8% from last year. * Revenue: Grew to ₹663 crore, compared to ₹520 crore last year. * Reported a loss of ₹42 crore, versus ₹20 crore in Q2 FY25, attributed to timing of revenue recognition under IndAS and strategic investments in new projects. * H1 FY26 Financial & Operational Highlights: * Pre-sales: Totaled ₹2,445 crore, up 4% year-on-year. * Collections: Hit ₹1,904 crore, up 1% year-on-year. * Business Development & Pipeline: * H1 FY26 additions: Over 6.36 million square feet of developable area, with a potential Gross Development Value (GDV) of approximately ₹9,100 crore. * Key additions include a 24.6-acre partnership at KIADB Hardware Park in North Bengaluru, preferred developer status for eight societies in Chembur, Mumbai (1.2 million sq ft), a 5.5-acre joint development in Balagere, East Bengaluru (₹1,000 crore GDV), and the Malabar Hills redevelopment in Mumbai (0.7 million sq ft, ₹2,700 crore GDV). * Land bank: Exceeds 32 million square feet. * H2 FY26 pipeline: Includes 15.46 million square feet across Mumbai, Bengaluru, Chennai, and Pune, with a potential GDV of ₹5,800 crore+. * Project Updates & Launches: * Mumbai: Andheri project launch expected in January (next FY), Miami launch in March/April/May (next FY). Thane and Bandra project approvals by end of December, with launches targeted for Q4 FY26. * Bengaluru: Hebbagodi and KIADB projects are set to launch in Q3 FY26. Some projects like Bellandur, City Aspire, and Grand Hills may shift to Q1 of next year due to regulatory delays. * HDFC Capital deployment: ₹700 crore deployed out of ₹1,150 crore, with ₹110 crore already repaid. Remaining ₹450 crore planned for deployment in 3-6 months. * Pune: Aggressively expanding, with advanced discussions for land parcels and exploring redevelopment opportunities. * Commercial Assets: Zentech has sold approximately 60,000 square feet and leased a substantial area; OC expected by February (next FY). Aerocity is expecting OC for 1.2 million square feet in January (next FY), with leasing expected to gain momentum. Hebbal land sale agreement by end of December, with approvals in the next six months. * Debt & Outlook: * Debt: Expected to reduce by ₹800 crore in the next 12 months and ₹1,646 crore in the subsequent year, based on scheduled repayments. * Pre-sales outlook: Expects ₹1,250 to ₹1,300 crore in sustenance sales for H2 FY26. Plans to bring ₹9,000 crore to ₹10,000 crore of inventory to the market in H2 FY26, targeting 20-40% sales from these launches. * Project completion: 4.3 million square feet delivery guidance for FY26 is on track. 1.3 million square feet delivered, with another 3 million square feet constructed and OC received for over 2,000 units, awaiting registration for handover due to e-khata and registration issues in Bangalore. * Malabar Hills project: Anticipates EBITDA margins upwards of 30%.
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