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Puravankara Limited reported a return to profitability in the third quarter of FY26 after losses in the previous two quarters, supported by stronger execution, higher revenues, and improved cash flows. The company posted a positive profit after tax, driven by timely project completions and better operating discipline following regulatory disruptions earlier in the year. Revenue, customer collections, and pre-sales showed steady growth, while execution momentum remained strong with a large number of home handovers. The developer also expanded its future pipeline, adding significant developable area across key urban markets.
Bengaluru-based Puravankara Limited reported a clear turnaround in the third quarter of FY26, returning to profitability after two consecutive loss-making quarters. The performance reflected improvement across revenues, profitability, sales momentum, and execution, indicating stabilising operations and stronger cash generation. The quarter marked an inflection point after delays faced in the first half of the financial year due to regulatory changes affecting project handovers. Advertisement
The company reported a profit after tax of INR 58.48 crore in Q3 FY26, compared to a loss of INR 94 crore in the same quarter last year. The recovery was mainly supported by improved execution, completion of pending projects, and tighter operating controls. Losses in earlier quarters were largely linked to handover delays caused by regulatory transitions such as e-Khata implementation and changes in building by-laws, which impacted revenue recognition during H1 FY26. The latest quarterly performance helped offset a significant portion of those earlier losses.
Commenting on the results, Ashish Puravankara, Managing Director of the company, said the return to profitability highlighted the underlying strength of the business and improving momentum across execution, sales, and cash flows. He noted that better realisations and timely deliveries supported strong revenue growth and helped stabilise earnings. He added that healthy customer collections and visibility from ongoing projects position the company to pursue disciplined growth while strengthening the balance sheet, with a continued focus on calibrated launches and execution-led delivery.
Total revenue for the quarter rose sharply to INR 1,104 crore, reflecting a 231 percent year-on-year increase. Customer collections during the quarter increased 22 percent year-on-year to INR 1,140 crore, indicating improved cash conversion and operating efficiency. For the first nine months of FY26, project revenue stood at INR 2,305 crore, up 51 percent year-on-year, while customer collections reached INR 3,045 crore, an increase of 8 percent. Operating cash inflows during the nine-month period amounted to INR 3,504 crore, resulting in a cash operating surplus of INR 755 crore, with the company reporting consistent surplus generation on a quarter-on-quarter basis.
Sales momentum remained steady, with sales value in Q3 FY26 growing 17 percent year-on-year, supported by sustained demand across core markets and stable price realisations. For the nine-month period, sales volumes reached 4.24 million square feet, translating into sales value of INR 3,859 crore, reflecting a 9 percent year-on-year increase and stable pre-sales performance across the residential portfolio.
Execution activity continued at a strong pace during the quarter, with 1,116 homes handed over covering 1.23 million square feet. Cumulative handovers for the nine months stood at 2,446 homes aggregating 2.58 million square feet, reinforcing the company's focus on timely delivery and fulfilment of customer commitments.
Alongside operational recovery, the developer expanded its future development pipeline during the first nine months of FY26. The company added over 12.7 million square feet of potential developable area with an estimated gross development value of around INR 13,900 crore across key markets such as Bengaluru and Mumbai. This expansion aligns with its strategy of measured growth in high-demand urban micro-markets and provides long-term revenue visibility.
Source PTI
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