Puravankara Limited has informed the Exchange about the nomination of Mr. Deepak Rastogi, Group CFO of the Company as the Nodal Officer in terms of IEPF Rules, 2016
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Puravankara reported weak Q1 FY26 (quarter ended June 30, 2025) results. Consolidated revenue from operations fell to Rs. 524.40 crore from Rs. 658.33 crore a year ago, a drop of about 20%, while the company swung from a Rs. 14.78 crore net profit in Q1 FY25 to a net loss of Rs. 68.55 crore. Standalone revenue plunged to Rs. 126.16 crore from Rs. 297.86 crore, with a standalone net loss of Rs. 68.15 crore. Finance costs rose sharply to Rs. 160.90 crore (consolidated) from Rs. 119.06 crore a year ago, weighing on margins. The Board approved the appointment of Ms. Amanda Joy Puravankara (daughter of Chairman) as an Additional Whole-time Director, re-appointment of Mr. Ravi Puravankara as Chairman for 5 years, and re-appointment of two Independent Directors. It also approved initiating due diligence to sell its entire stake in subsidiary Sobha Puravankara Aviation Private Limited. The auditor (S.R. Batliboi & Associates LLP) issued an unqualified review report but included an emphasis of matter note flagging ongoing legal proceedings and an income tax search.
The sharp YoY revenue decline and widened losses, driven by higher finance costs, are negative for near-term sentiment. The emphasis of matter on legal and tax matters and the proposed sale of the aviation subsidiary add uncertainty, though director continuity at the top may provide stability.