Puravankara Limited has informed the Exchange about Merger of two Wholly Owned Subsidiaries of the Company
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Puravankara's board, meeting on February 12, 2026, approved the merger of IBID Home Private Limited (transferor) into Purva Woodworks Private Limited (transferee) under Sections 230-232 of the Companies Act, 2016. Both are wholly owned subsidiaries of the company, and the scheme will now be filed with the NCLT for approval. The board also approved the re-appointment of Mr. Ashish Ravi Puravankara as Managing Director for a further 5 years (April 2026 to March 2031), subject to shareholder approval via postal ballot. Separately, the company posted strong Q3 FY26 standalone results with revenue from operations rising nearly 4x year-on-year to Rs 723.32 crore and a net profit of Rs 63.79 crore versus a loss of Rs 82.49 crore in the same quarter last year. Consolidated revenue tripled to Rs 1,069.31 crore with a net profit of Rs 58.34 crore.
The internal merger of two wholly owned subsidiaries is a routine restructuring with no material impact on shareholders. The strong quarterly turnaround, driven by higher revenue, signals improving real estate sales momentum and should be viewed positively by investors.