Ashish Puravankara, Managing Director, Puravankara Limited, said, “In the second quarter of 2026, we maintained strong growth momentum, driven entirely by subsistence 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 potentially developable area with an estimated GDV of Rs 9,100 crore. This includes two major redevelopment projects in Mumbai at Chembur and Malabar Hill, and strategic partnerships in North and East Bengaluru, reflecting our focus on expansion in the demanding micro markets through disciplined capital allocation.“With regulatory clarity following the recent bylaw revisions, we are ready to accelerate our 12.67 million sq ft launch pipeline over the next three 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 slated for launch in January 2026. Most of our upcoming projects are in the final stages of approval, leaving us well positioned to deliver on our targeted growth plans. While transfers and sales were marginally impacted in the first half by regulatory changes such as the implementation of e-Khata and bylaw changes, we remain confident that we can achieve our targeted transfers over the next two quarters through focused execution and strong operational preparedness,” he said.
During Q2 26, Puravankara sold 1.5 million sq ft with a total sales value of Rs 1,322 crore and realized a revenue of Rs 8,814 per sq ft. The collections stood at Rs 1,047 crore. In H1FY26, the company sold 2.75 million sq ft worth Rs 2,445 crore with an average revenue of Rs 8,891 per sq ft and collections of Rs 1,904 crore.
For the first half of FY26, Puravankara reported a consolidated revenue of Rs 1,201 crore and a net loss of Rs 111 crore. During the quarter, the company transferred 663 units covering an area of 0.67 million square meters, while in the first half of the year 26, transfers totaled 1,330 units covering an area of 1.36 million square meters. 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 2,008 crore. 5,881 crore. The combined estimated surplus stood at Rs 15,568 crore, against which net debt stood at Rs 2,894 crore, giving a coverage of more than 5x. The weighted average cost of debt decreased to 11.32%, with a net debt/equity ratio of 1.77. In H1FY26, the company added 6.36 million sq ft of new developments with a potential GVA of over Rs 9,100 crore. Major additions included a 24.59-acre site in KIADB Hardware Park, North Bengaluru, with a buildable area of 3.48 million square feet (GDP of over Rs 3,300 crore); a joint development in Balegere, East Bengaluru, with 0.85 million sq ft (GDP of 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).
The macroeconomic environment in India remains supportive, with GDP growth at 7.8% in Q1 26 and the IMF for the full year at 6.4%. The RBI’s rate cut by 100 basis points to 5.5% and capital inflows of $1.5 billion in the second quarter reflect investor confidence. Real estate demand remains strong in key segments, led by offices and data centers, while residential sales and prices have increased by 5 to 10% in major metros like NCR, Bengaluru and Chennai.
Puravankara said it is positioned to leverage the industry’s growth momentum through new launches and disciplined project execution.
The company has completed 93 projects covering approximately 52 million square feet in nine cities including Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa. The current land bank is approximately 32 million square meters, with 34 million square meters of ongoing projects.
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