Pre-sales
INR 1,414 Cr
+17% YoY
Q3 FY26 pre-sales driven by sustained demand across key markets.
PURAVANKARA
Other
10 Feb 2026
Puravankara Ltd — Q3 FY26
Puravankara delivered a strong Q3 FY26 with total income surging 230% YoY to INR 1,114 crore, driven by higher handovers.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Puravankara delivered a strong Q3 FY26 with total income surging 230% YoY to INR 1,114 crore, driven by higher handovers. EBITDA margin expanded to 23% (vs 10% last year), and PAT turned positive at INR 58 crore vs a loss of INR 94 crore. Pre-sales grew 17% YoY to INR 1,414 crore, while collections hit a record INR 1,140 crore (+22% YoY). The company added 12.76 msf of development potential (GDV ~INR 13,900 crore) across Mumbai and Bangalore. Management guided for strong Q4 launches (~INR 6,000 crore of new supply) and expects 25% sell-through on launches, implying pre-sales of INR 5,000-6,000 crore for FY26. Key risk: delays in project approvals could push launches beyond guided timelines.
Key Numbers
Collections
INR 1,140 Cr
+22% YoY
Highest ever quarterly collections supported by construction progress.
Sales Volume
1.49 msf
+12% YoY (realization)
Average realization improved to INR 9,500/sq ft.
Business Development
12.76 msf
GDV INR 13,900 Cr
Added 5 new projects in 9M FY26, strengthening long-term pipeline.
Management Guidance
Q4 FY26 launches of ~INR 6,000 crore
Bangalore launches worth INR 4,700 crore and Mumbai launches of ~INR 2,000 crore are on track for Q4.
Management guidance growth25% sell-through on new launches
Management expects to sell ~25% of launched inventory, implying INR 1,800-2,000 crore from launches plus INR 1,000 crore from sustenance.
Management guidance revenueDebt repayment of INR 682 crore in next 12 months
Scheduled debt repayment of INR 682 crore over the next 12 months, with potential early repayments from collections.
Management guidance otherCommercial assets to generate ~INR 200 crore annual rental income
Zentech and Aerocity projects, once fully leased, will fetch annual rental income of ~INR 200 crore.
Management guidance revenueKey Risks
Project approval delays
Past delays in Bangalore due to bylaw changes have pushed back launches; similar risks could affect Q4 and FY27 launch timelines.
medium · analyst_questionHigh debt and interest burden
Gross debt increased to ~INR 4,500 crore with interest cost of INR 495 crore in 9M; debt servicing could pressure cash flows if collections slow.
high · analyst_questionExecution risk in Mumbai redevelopment
Multiple redevelopment projects in Mumbai involve society approvals and complex processes, which could delay launches and cash flows.
medium · management_commentaryCommercial leasing uncertainty
Aerocity project has not concluded any large lease deals despite RFPs; leasing may take longer than expected, delaying rental income.
medium · data_observationNotable Quotes
We are sitting at around 4,000 crore rupees of sales and the next quarter we are launching close to around 6,000 crore rupees of stock into the market.
Our basic thumb rule for business development is it has to sort of surpass your annual sales in terms of square footage at least you need to replenish if not more.
We are in the top one or two stage with a couple of large players... we expecting the OC to come end of March.
Frequently Asked Questions
What was Puravankara's revenue in Q3 FY26?
Puravankara reported revenue of ₹1,069 Cr in Q3 FY26, representing a +230% change compared to the same quarter last year.
What guidance did Puravankara management give for FY27?
Q4 FY26 launches of ~INR 6,000 crore: Bangalore launches worth INR 4,700 crore and Mumbai launches of ~INR 2,000 crore are on track for Q4. 25% sell-through on new launches: Management expects to sell ~25% of launched inventory, implying INR 1,800-2,000 crore from launches plus INR 1,000 crore from sustenance. Debt repayment of INR 682 crore in next 12 months: Scheduled debt repayment of INR 682 crore over the next 12 months, with potential early repayments from collections. Commercial assets to generate ~INR 200 crore annual rental income: Zentech and Aerocity projects, once fully leased, will fetch annual rental income of ~INR 200 crore.
What are the key risks for Puravankara in FY27?
Key risks include Project approval delays — Past delays in Bangalore due to bylaw changes have pushed back launches; similar risks could affect Q4 and FY27 launch timelines.; High debt and interest burden — Gross debt increased to ~INR 4,500 crore with interest cost of INR 495 crore in 9M; debt servicing could pressure cash flows if collections slow.; Execution risk in Mumbai redevelopment — Multiple redevelopment projects in Mumbai involve society approvals and complex processes, which could delay launches and cash flows.; Commercial leasing uncertainty — Aerocity project has not concluded any large lease deals despite RFPs; leasing may take longer than expected, delaying rental income..
Did Puravankara meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Puravankara Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.