Puravankara Limited has informed the Exchange regarding Appointment of Mr Ashish Ravi Puravankara as Managing Director of the company w.e.f. April 01, 2026.
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Puravankara's board approved the re-appointment of Mr. Ashish Ravi Puravankara as Managing Director for another 5-year term (April 1, 2026 to March 31, 2031), subject to shareholder approval via postal ballot. He is the son of Chairman Ravi Puravankara and brother of Whole Time Director Amanda Joy Puravankara, and currently oversees the business. The board also approved Q3 FY26 results showing a sharp turnaround — standalone revenue surged to Rs. 723.32 crore from Rs. 189.06 crore a year ago, with a standalone net profit of Rs. 63.79 crore versus a Rs. 82.49 crore loss in Q3 FY25. Consolidated revenue stood at Rs. 1,069.31 crore with a net profit of Rs. 58.34 crore. Additionally, the board approved a merger between two wholly-owned subsidiaries, IBID Home Private Limited and Purva Woodworks Private Limited.
The MD re-appointment ensures leadership continuity at the promoter-driven company, which is positive for stability but reinforces promoter family control. The strong Q3 turnaround on the back of land purchase costs and revenue scaling may improve investor sentiment, though 9-month FY26 consolidated results are still in the red (Rs. 53.20 crore loss).