Puravankara Limited has informed the Exchange about amendment of Code of Conduct of the Company as per SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF INSIDER TRADING) (AMENDMENT) REGULATIONS, 2025 dated March 11, 2025
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Puravankara reported a sharp deterioration in Q1 FY26 (quarter ended June 30, 2025) results. Standalone revenue from operations fell to Rs. 126.16 crore from Rs. 297.86 crore in Q1 FY25, and the company posted a standalone net loss of Rs. 68.15 crore versus a Rs. 15.08 crore loss a year ago. On a consolidated basis, revenue dropped to Rs. 524.40 crore from Rs. 658.33 crore, and the company swung from a Rs. 14.78 crore profit in Q1 FY25 to a Rs. 68.55 crore net loss. Finance costs remain heavy at Rs. 160.90 crore consolidated. The Board approved appointing Amanda Joy Puravankara as a Whole-time Director, re-appointing Chairman Ravi Puravankara and two independent directors, and initiated due diligence to sell its full stake in subsidiary Sobha Puravankara Aviation Private Limited. Subsidiary Purva Oak raised Rs. 210 crore via NCDs listed on BSE. The auditor (S.R. Batliboi & Associates) issued an unqualified review report with an emphasis-of-matter note on ongoing property and income tax legal proceedings.
Shareholders should note a steep YoY revenue drop and continued losses on both standalone and consolidated bases, alongside elevated finance costs. The planned aviation subsidiary divestiture, the Rs. 210 crore NCD raise, and family succession through Amanda Joy Puravankara's appointment are notable corporate actions, but the weak quarterly performance and unresolved tax/legal contingencies may weigh on near-term sentiment.