Puravankara Limited has informed the Exchange regarding Appointment of Mr Grant Thornton Bharat LLP as Internal Auditor of the company w.e.f. April 01, 2025.
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Puravankara Limited's board met on May 30, 2025 and approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with statutory auditors (S.R. Batliboi & Associates LLP) issuing an unmodified opinion. On a standalone basis, the company swung to a net loss of Rs. 198.75 crore in FY25 from a profit of Rs. 33.54 crore in FY24, with revenue from operations falling to Rs. 917.50 crore from Rs. 1,105.71 crore; basic EPS turned negative at Rs. (8.39). On a consolidated basis, revenue from operations was Rs. 2,013.61 crore vs Rs. 2,185.26 crore the previous year. The board also appointed M/s. JKS & Co. as the new Secretarial Auditor for a 5-year term (FY26–FY30), and re-appointed GNV & Associates as Cost Auditor for FY26 and Grant Thornton Bharat LLP as Internal Auditor for a 3-year term (FY26–FY28). The auditor's report flagged an emphasis of matter regarding ongoing legal proceedings related to property disputes, a 2023 income tax search, and recent tax assessment orders.
The sharp swing from profit to loss (Rs. 198.75 crore) on declining revenues is a negative signal for shareholders and may weigh on the stock in the near term. The re-appointment of a reputable firm like Grant Thornton as Internal Auditor brings continuity in governance oversight, but investors should watch for resolution of the ongoing tax and property legal proceedings noted by the auditors.