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Realty firm Puravankara Ltd on Friday (November 7) reported a net loss of ₹41.79 crore for the second quarter of FY26, wider than the loss of ₹16.78 crore in the same period last year.
Revenue for the quarter grew 29.9% year-on-year to ₹644.4 crore from ₹496 crore in Q2 FY25. Earnings before interest, tax, depreciation, and amortisation (EBITDA) declined 7.3% to ₹104.47 crore from ₹112.67 crore a year ago. The company’s EBITDA margin fell to 16.2% from 22.7% in the corresponding quarter last year.
Puravankara reported sales of ₹1,322 crore in Q2 FY26, up 4% year-on-year, on a sales volume of 1.5 million square feet. Average sales realisation rose 7% to ₹8,814 per square foot, while customer collections for the quarter increased 8% year-on-year to ₹1,047 crore.
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Operational overview for Q2 FY26 includes total area sold of 1.5 million square feet, total sales value of ₹1,322 crore, average sales realisation of ₹8,814 per square foot, and collections of ₹1,047 crore.
For H1 FY26, the company sold a total area of 2.75 million square feet, generating a total sales value of ₹2,445 crore. Average sales realisation stood at ₹8,891 per square foot, and customer collections reached ₹1,904 crore.
On the consolidated financial front, total revenue for H1 FY26 was ₹1,201 crore, with a net loss of ₹111 crore. During Q2 FY26, Puravankara handed over 663 units covering 0.67 million square feet, generating total income of ₹663 crore, while H1 FY26 saw 1,330 units handed over covering 1.36 million square feet, yielding ₹1,201 crore.
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The company’s projected cash flows as of September 30, 2025, show a total estimated surplus from all completed and ongoing projects of ₹7,679 crore, with ₹2,008 crore from commercial projects and ₹5,881 crore from pipeline projects.
The overall estimated surplus across all categories exceeds ₹15,568 crore. Against this, the company’s net debt stands at ₹2,894 crore, implying a healthy cover of over five times. The weighted average cost of debt has reduced to 11.32% as of September 30, 2025, with a net debt-to-equity ratio of 1.77 for Q2 FY26.
Ashish Puravankara, Managing Director, Puravankara, said, "In Q2FY26, we sustained strong growth momentum driven entirely by sustenance sales, achieving pre-sales of ₹1,322 crores and collections of ₹1,047 crore, both increasing year on year.
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In the first half of the year, we strengthened our development pipeline by adding over 6.36 million square feet of potential developable area with an estimated GDV of ₹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."
Shares of Puravankara Ltd ended at ₹255.80, down by ₹3.75, or 1.44%, on the BSE.
