Puravankara Q2 Profit Turns Positive as Sales Double

Puravankara swung to a Rs 82 crore profit in the September quarter from a Rs 42 crore loss a year earlier, with pre-sales up 109% to Rs 2,762 crore, though an office asset sale accounts for about Rs 626 crore of that figure.

The Bengaluru developer disclosed the numbers in a press release filed with NSE on 2 November 2026. Total revenue for Q2 FY27 rose 59% year on year to Rs 1,051 crore from Rs 663 crore, and the EBITDA margin improved to 27% from 18%.

What Drove the Quarter

Puravankara sold 2.38 million sq ft in the quarter, up 59%, across 1,403 units, up 12%. Average realisation climbed 32% to Rs 11,607 per sq ft, and customer collections grew 24% to Rs 1,301 crore.

The headline sales figure includes the divestment of about 5.46 lakh sq ft of office space at Purva Zentech for Rs 625.94 crore. Excluding it, quarterly residential and commercial pre-sales come to roughly Rs 2,136 crore. Based on the company's own growth rate, that would still be about 60% above the year-earlier quarter, a Vantage estimate rather than a disclosed figure.

Handovers explain much of the profit swing. The company handed over 977 units in the quarter against 663 a year earlier. Developers usually book revenue when homes are delivered, and Puravankara said 3,644 completed units, covering 4.28 million sq ft, were still pending revenue recognition at the end of September.

"Our Q2FY27 performance reflects the progress we are making in converting execution into revenue and earnings," Managing Director Ashish Puravankara said in the release.

Debt and Pipeline

Net debt fell by Rs 470 crore during the quarter to Rs 2,366 crore, and the net debt-to-equity ratio improved to 1.26 from 1.57 at the end of June. Gross debt stood at Rs 3,763 crore.

The developer entered Delhi-NCR with a 13.44-acre parcel in Greater Noida carrying an estimated gross development value of Rs 5,200 crore, and secured redevelopment rights for three societies in Goregaon West, Mumbai. It now lists about Rs 22,600 crore of planned launches, with most of the pipeline in the Bengaluru and Mumbai real estate markets.

The Guidance Gap

Including the Zentech sale, H1 FY27 sales reached Rs 4,200.94 crore, or 37.51% of the Rs 11,200 crore annual sales guidance. That leaves about Rs 7,000 crore to be sold in the second half, which depends heavily on launches arriving on time.

The result follows other September-quarter updates from listed developers, including Lodha's 28% profit rise.

What to Check

• If you are buying in an ongoing Puravankara or Provident project, check the project's construction progress and completion date on the Karnataka RERA or MahaRERA portal rather than relying on company-level growth figures.
• Investors should separate one-off asset monetisation from residential pre-sales when comparing quarters, using the breakdown in the company's Q2 FY27 press release.
• Track the net debt-to-equity ratio, now 1.26, in the next quarterly filing.

Sources

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• Puravankara Q2FY27 revenue surges 59% to Rs 1,051 crore; PAT at Rs 82 crore published on 2 November 2026 in Puravankara Limited via NSE
• Lodha Profit Rises 28 Percent in September Quarter published on 1 November 2026 in Vantage

Does stripping out the Zentech sale change how you read Puravankara's quarter? Share your view in the attached forum discussion.