Puravankara Limited (NSE: PURVA, BSE: 532891) reported a sharp year-on-year increase in revenue and a return to quarterly profitability in the December quarter, supported by a higher number of unit handovers and improved realizations, according to the company’s investor presentation on unaudited standalone and consolidated results for Q3 and nine months ended Dec. 31, 2025.
Q3 FY26 performance
Revenue from operations rose to ₹1,069 crore in Q3 FY26 from ₹318 crore a year earlier, driven by a rise in handovers to 1,116 units compared with 249 units in Q3 FY25. Total income increased to ₹1,104 crore from ₹334 crore.
The company reported profit after tax of ₹58 crore in Q3 FY26, compared with a loss of ₹93 crore in the year-ago quarter. Operating performance improved as EBITDA margin expanded to about 23%, versus 10% in Q3 FY25, reflecting operating leverage and improved pricing. Average realizations increased 12% year on year to about ₹9,500 per sq. ft., supported by a favorable product mix and price increases across key markets.
Pre-sales value rose 17% year on year to about ₹1,414 crore, while sales volume increased to 1.49 million sq. ft., up from 1.43 million sq. ft. a year earlier. Customer collections stood at about ₹1,140 crore, indicating strong cash inflows in the quarter.
Nine-month FY26 snapshot
For the nine months ended Dec. 31, 2025, pre-sales value increased to about ₹3,859 crore, up from ₹3,543 crore in 9M FY25. Total revenue rose to ₹2,305 crore from ₹1,529 crore in the prior-year period, driven by higher handovers across Bengaluru, Chennai, Kochi, Mumbai and Pune.
Despite the revenue growth, profit after tax for 9M FY26 remained a loss of about ₹53 crore, though the loss narrowed from ₹95 crore in 9M FY25. EBITDA margin for the nine-month period stood at about 20%, reflecting improved operating performance versus the prior year. Customer collections reached about ₹3,045 crore, up from ₹2,820 crore in the year-ago period.
Sales mix and regional performance
South India remained the largest contributor to sales, supported by launches such as Purva Silversky in Bengaluru and sustained demand across ongoing projects. In the western region, sales value increased on the back of the Purva Panorama launch in Thane, Mumbai. The company reported higher realizations across most geographies, reflecting improved pricing discipline and a mix shift toward premium projects.
Project pipeline and land acquisitions
During the first nine months of FY26, Puravankara launched 2.83 million sq. ft. of new projects and completed 3.27 million sq. ft. of developments. The company also announced land acquisitions and redevelopment projects with an estimated gross development value of about ₹13,900 crore, including projects in Bengaluru and Mumbai, which are expected to support medium-term sales visibility.
Balance sheet and cash flow position
Gross debt declined sequentially by ₹35 crore in Q3 FY26, while net debt fell by ₹244 crore, supported by strong collections and improved cash generation. Net debt-to-equity improved to about 1.47x as of Dec. 31, 2025. Management said projected cash flow surpluses from ongoing and pipeline projects are expected to comfortably cover outstanding debt over the medium term.
Summary
Puravankara delivered strong revenue growth and returned to quarterly profitability in Q3 FY26, driven by higher handovers, improved realizations and operating leverage. Pre-sales and collections improved, supporting cash flows and balance-sheet deleveraging. With a sizeable launch pipeline and recent land acquisitions, the company has visibility on sales momentum over the coming quarters, though full-year profitability remains sensitive to the pace of handovers and execution.