Puravankara Limited has informed the Exchange regarding Re Appointment of Mr Ravi Puravankara as Chairman of the company w.e.f. April 01, 2026.
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Puravankara's board approved standalone and consolidated results for Q1 FY26 (quarter ended June 30, 2025), reporting a standalone net loss of Rs 68.15 crore versus a loss of Rs 15.08 crore in the same quarter last year, with revenue from operations falling sharply to Rs 126.16 crore from Rs 297.86 crore. On a consolidated basis, the company swung to a net loss of Rs 68.55 crore compared to a profit of Rs 14.78 crore a year ago, with revenue declining to Rs 524.40 crore. The board appointed Ms. Amanda Joy Puravankara (daughter of Chairman Ravi Puravankara and sister of MD Ashish Ravi Puravankara) as an Additional Whole-time Director and Key Managerial Personnel for 5 years, and approved her induction into multiple board committees. It also re-appointed Mr. Ravi Puravankara as Chairman and two independent directors (Ms. Shailaja Jha and Mr. K.G. Krishnamurthy) for second terms of 5 years each, beginning in 2026.
The deeper quarterly losses and steep revenue decline signal continued pressure on the real estate business and are likely to weigh on sentiment, while the induction of a third family member into the board strengthens promoter control but also raises concentration of power concerns for minority shareholders.