Average realisation rose 7% to Rs 8,814 per sq. ft., while customer collections increased 8% to Rs 1,047 crore. The quarter closed with a net loss of Rs 42 crore.
Ashish Puravankara, Managing Director, Puravankara Limited, said, “In Q2FY26, we sustained strong growth momentum driven entirely by sustenance sales, achieving pre-sales of Rs 1,322 crores and collections of Rs 1,047 crores, both increasing year on year. In the first half of the year, we strengthened our development pipeline by adding over 6.36 million sq. ft. of potential developable area with an estimated GDV of Rs 9,100 crore. This includes two marquee redevelopment projects in Mumbai at Chembur and Malabar Hill, and strategic partnerships in North and East Bengaluru, reflecting our focus on expanding in high-demand micro-markets through disciplined capital allocation.
“With regulatory clarity now in place following the recent bye-law revisions, we are poised to accelerate our launch pipeline of 12.67 million sq. ft over the next 3 quarters, including a landmark project in Bengaluru spanning 3.48 million sq. ft at KIADB Hardware Park and a redevelopment project in Andheri Lokhandwala, both scheduled for launch in January 2026. Most of our upcoming projects are in the final stages of approval, positioning us well to deliver on our growth plans. While handovers and sales in the first half were marginally impacted by regulatory transitions such as e-Khata implementation and bye-law changes, we remain confident of achieving our targeted handovers in the next two quarters through focused execution and strong operational preparedness,” he said.
During Q2FY26, Puravankara sold 1.5 million sq. ft. with total sales value of Rs 1,322 crore and realised Rs 8,814 per sq. ft. Collections stood at Rs 1,047 crore. In H1FY26, the company sold 2.75 million sq. ft. worth Rs 2,445 crore with average realisation of Rs 8,891 per sq. ft. and collections of Rs 1,904 crore.
For the first half of FY26, Puravankara reported consolidated revenue of Rs 1,201 crore and a net loss of Rs 111 crore. During the quarter, the company handed over 663 units covering 0.67 million sq. ft., while in H1FY26, handovers totalled 1,330 units across 1.36 million sq. ft.As of September 30, 2025, the company estimated total surplus from completed and ongoing projects at Rs 7,679 crore, from commercial projects at Rs 2,008 crore, and from pipeline projects at Rs 5,881 crore. The combined estimated surplus stood at Rs 15,568 crore, against which the net debt was Rs 2,894 crore, giving a cover of over 5x. The weighted average cost of debt reduced to 11.32%, with a net debt-to-equity ratio of 1.77.In H1FY26, the company added 6.36 million sq. ft. of new developments with a potential GDV exceeding Rs 9,100 crore. Key additions included a 24.59-acre site at KIADB Hardware Park, North Bengaluru, with 3.48 million sq. ft. of developable area (GDV over Rs 3,300 crore); a joint development in Balegere, East Bengaluru, with 0.85 million sq. ft. (GDV over Rs 1,000 crore); and two redevelopment projects in Mumbai—Chembur (1.28 million sq. ft., GDV Rs 2,100 crore) and Malabar Hill (0.75 million sq. ft., GDV Rs 2,700 crore).
India’s macroeconomic environment remains supportive, with GDP growth of 7.8% in Q1FY26 and the IMF projecting 6.4% for the full year. The RBI’s 100 basis point rate cut to 5.5% and capital inflows of USD 1.5 billion in Q2 reflect investor confidence. Real estate demand continues across key segments, led by offices and data centres, while residential sales and prices have grown 5–10% in major metros such as NCR, Bengaluru, and Chennai.
Puravankara said it is positioned to leverage the sector’s growth momentum through new launches and disciplined project execution.
The company has completed 93 projects covering about 55 million sq. ft. across nine cities including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. Its current land bank is about 32 million sq. ft., with 34 million sq. ft. of ongoing projects.
