- Home
- Results news
- Puravankara
- Q2 FY27 results
Puravankara Q2 FY27 results: net profit ₹83.74 crore vs ₹42.99 crore loss, revenue up 60.3%
Puravankara Limited reported consolidated revenue of ₹1,032 crore and a net profit of ₹83.74 crore in Q2 FY27, against a net loss of ₹42.99 crore a year earlier. EBITDA rose 16.5% to ₹121.27 crore, while the margin fell 4.5 percentage points to 11.7%.
Key points
- Consolidated revenue was ₹1,032 crore, up 60.3% from Q2 FY26 and 21.7% from Q1 FY27.
- EBITDA was ₹121.27 crore, up 16.5% year on year but down 35.7% from the previous quarter.
- The EBITDA margin was 11.7%, down 4.5 percentage points from Q2 FY26 and 10.5 percentage points from Q1 FY27.
- The company reported a net profit of ₹83.74 crore and basic EPS of ₹3.42, versus a net loss of ₹42.99 crore and EPS of -1.76 in Q2 FY26.
- H1 FY27 revenue was ₹1,881.22 crore, up 61.0%, while net profit was ₹108.97 crore compared with a net loss of ₹111.54 crore.
How did Puravankara perform in Q2 FY27?
Puravankara Limited reported consolidated revenue of ₹1,032 crore for Q2 FY27, up 60.3% from ₹644.20 crore in Q2 FY26 and 21.7% from ₹848.72 crore in Q1 FY27. EBITDA was ₹121.27 crore, higher by 16.5% year on year but lower by 35.7% from ₹188.64 crore in the previous quarter. The EBITDA margin was 11.7%, against 16.2% a year earlier and 22.2% in Q1 FY27.
The company reported a net profit of ₹83.74 crore in Q2 FY27, against a net loss of ₹42.99 crore in Q2 FY26. Profit attributable to owners was ₹81.12 crore, against a net loss of ₹41.79 crore a year earlier. Basic EPS was ₹3.42, compared with -1.76 in Q2 FY26 and ₹1.22 in Q1 FY27. Standalone revenue was ₹383.04 crore and net profit was ₹94.31 crore.
Total income was ₹1,051.02 crore, up 58.6% from the year-ago quarter and 19.8% from the previous quarter. Profit before tax was ₹93.74 crore, against a loss of ₹56.52 crore in Q2 FY26 and ₹26.06 crore in Q1 FY27. Tax expense was ₹10.11 crore, against a tax credit of ₹13.66 crore a year earlier and ₹0.79 crore in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,032 | 848.72 | 644.20 | +60.3% | +21.7% |
| Other income | 18.52 | 28.43 | 18.53 | −0.1% | −34.9% |
| Total expenses | 1,106 | 851.09 | 719.25 | +53.8% | +30.0% |
| EBITDA | 121.27 | 188.64 | 104.05 | +16.5% | −35.7% |
| EBITDA margin | 11.7% | 22.2% | 16.2% | −4.5 pp | −10.5 pp |
| Profit before tax | 93.74 | 26.06 | −56.52 | turned to profit | +259.7% |
| Tax | 10.11 | 0.79 | −13.66 | +1179.7% | |
| Net profit | 83.74 | 25.23 | −42.99 | turned to profit | +231.9% |
| EPS (₹) | 3.42 | 1.22 | −1.76 | turned to profit | +180.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Puravankara's costs and profit?
Total expenses rose 53.8% year on year to ₹1,106 crore from ₹719.25 crore. Cost of materials increased 90.9% to ₹159.45 crore, employee cost rose 20.1% to ₹97.38 crore, finance costs increased 7.0% to ₹180.42 crore and depreciation rose 37.5% to ₹14.46 crore. Other expenses increased 36.7% to ₹880.90 crore from ₹644.62 crore.
Other income was ₹18.52 crore, compared with ₹18.53 crore in Q2 FY26 and ₹28.43 crore in Q1 FY27. The quarter included an exceptional gain of ₹148.83 crore, against no exceptional item in either comparison period. Tax moved from a credit of ₹13.66 crore in Q2 FY26 to an expense of ₹10.11 crore, a difference of ₹23.77 crore.
The filing states that the quarter included an exceptional gain of ₹149 crore and that higher handovers supported revenue integration. Beyond those statements, the filing figures show that the exceptional gain and the increase in profit before tax coincided with higher total expenses and a lower EBITDA margin.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 159.45 | 83.52 | +75.93 | +90.9% |
| Employee cost | 97.38 | 81.08 | +16.30 | +20.1% |
| Finance costs | 180.42 | 168.58 | +11.84 | +7.0% |
| Depreciation | 14.46 | 10.52 | +3.94 | +37.5% |
| Other expenses | 880.90 | 644.62 | +236.28 | +36.7% |
| Total expenses | 1,106 | 719.25 | +386.86 | +53.8% |
| Other income | 18.52 | 18.53 | −0.01 | −0.1% |
| Tax | 10.11 | −13.66 | +23.77 | |
| Exceptional items | +148.83 (gain) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Puravankara reported consolidated revenue of ₹1,881.22 crore, up 61.0% from ₹1,168.60 crore in H1 FY26. Total income was ₹1,928.17 crore, up 60.5% from ₹1,201.37 crore. The company recorded a net profit of ₹108.97 crore, compared with a net loss of ₹111.54 crore a year earlier.
Profit before tax for the first half was ₹119.80 crore, against a loss of ₹146.64 crore in H1 FY26. Basic EPS was ₹4.64, compared with -4.61 in the previous first half. Revenue rose by ₹712.62 crore year on year, while total income increased by ₹726.80 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,881 | 1,169 | +61.0% |
| Profit before tax | 119.80 | −146.64 | turned to profit |
| Net profit | 108.97 | −111.54 | turned to profit |
| EPS (₹) | 4.64 | −4.61 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹18,324.48 crore, compared with ₹17,257.63 crore at 31 March 2026. Total equity was ₹1,883.96 crore, compared with ₹1,775.80 crore. Borrowings declined to ₹5,364.90 crore from ₹5,571.91 crore, while cash fell to ₹916.52 crore from ₹1,282.56 crore.
Inventories increased to ₹12,290.08 crore from ₹11,490.27 crore. Trade receivables rose to ₹809.77 crore from ₹786.82 crore, and trade payables increased to ₹1,124.56 crore from ₹988.93 crore. H1 FY27 operating cash flow was negative ₹3.38 crore, compared with positive ₹262.88 crore in H1 FY26.
Investing cash flow was negative ₹48.84 crore in H1 FY27, compared with negative ₹34.02 crore a year earlier. Financing cash flow was negative ₹397.90 crore, compared with negative ₹269.51 crore in H1 FY26. Capital expenditure was ₹235.45 crore, against ₹20.01 crore in the previous first half.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 18,324 | 17,258 |
| Total equity | 1,884 | 1,776 |
| Borrowings | 5,365 | 5,572 |
| Cash and equivalents | 916.52 | 1,283 |
| Inventories | 12,290 | 11,490 |
| Trade receivables | 809.77 | 786.82 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −3.38 | 262.88 |
| Cash from investing | −48.84 | −34.02 |
| Cash from financing | −397.90 | −269.51 |
| Capital expenditure | 235.45 | 20.01 |
Source: Company's results filing (XBRL).
How has Puravankara done over the last 8 quarters?
Revenue increased year on year in each of the last five quarters. It reached ₹1,501.92 crore in Q4 FY26 before falling to ₹848.72 crore in Q1 FY27 and rising to ₹1,032.50 crore in Q2 FY27. Profit followed a different path, moving from a net loss of ₹42.99 crore in Q2 FY26 to net profit of ₹58.34 crore in Q3 FY26 and ₹109.95 crore in Q4 FY26.
The EBITDA margin peaked at 22.2% in Q1 FY27 and fell to 11.7% in Q2 FY27. Net profit was ₹83.74 crore in the latest quarter, below the ₹109.95 crore recorded in Q4 FY26 but above ₹25.23 crore in Q1 FY27. Across the listed series, revenue bottomed at ₹318.17 crore in Q3 FY25 and profit bottomed at a net loss of ₹92.64 crore in that quarter.
What else did the company announce?
On 2 November 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2026, along with the limited review report. The Audit Committee had reviewed and recommended the results. The board meeting began at 2:00 p.m. IST and concluded at 7:30 p.m. IST.
Puravankara also filed an investor presentation for the analysts and institutional investors meeting on the same day. The presentation covered the unaudited standalone and consolidated results, sales and collections, cash flow, capital management and project status. The same-day filings did not disclose a dividend, a fund raise or any appointment.
What did the auditors point out?
The independent auditor drew attention to note 6 of the standalone financial results, referring to ongoing legal proceedings related to property, an income tax search and other matters. The auditor stated: “Our conclusion is not modified in respect of this matter.”
The consolidated review report contained the same emphasis of matter for ongoing legal proceedings related to property, an income tax search and other matters. It also noted that the results included 31 subsidiaries, whose unaudited interim financial results included total assets of ₹5,894.74 crore as at 30 September 2026, total revenues of ₹297.52 crore and ₹498.77 crore, and net profit after tax of ₹6.12 crore and ₹4.08 crore.
What did Puravankara's management say?
Management said Q2 presales rose 109% year on year to ₹2,762 crore, while H1 sales reached 37.5% of FY27 guidance. The CFO said: “Our FY27 sales guidance remains INR11,200 crores, including the Zentech transaction.” Customer collections for H1 were ₹2,500 crore, and management maintained targets of about ₹6,000 crore for collections and operating surplus above ₹1,000 crore.
Management said launch timing depends on approvals, with Cuffe Parade and some South launches possibly slipping into FY28. It also said collection conversion depends on construction milestones and billing, Mumbai demand was uneven, and geopolitical events could disrupt demand at the mid-term. The West and Commercial Assets CEO said: “I think getting a greenfield land and doing development on it, I think the numbers look really, really scary right now. There's hardly any good opportunity out there.”
How did Puravankara shares react?
Puravankara’s shares were up 1.7% after five minutes, 2.7% after 15 minutes and 1.0% after 30 minutes from the price when the filing appeared. On the reaction day, the stock closed 3.2% below its previous close. By the next day’s close, it was down 2.1% from the pre-results close.
| After the filing | Stock | Residential Commercial Projects median |
|---|---|---|
| 5 minutes | +1.7% | |
| 15 minutes | +2.7% | |
| 30 minutes | +1.0% | |
| Reaction day | −3.2% | +0.3% |
| Next day | −2.1% | +2.6% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 August 2026 | +4.7% |
| 18 May 2026 | +8.4% |
| 12 February 2026 | −0.7% |
| 7 November 2025 | −2.7% |
| 8 August 2025 | −2.3% |
| 30 May 2025 | −7.5% |
| 14 February 2025 | −1.4% |
| 8 November 2024 | −4.9% |
Source: MarketPing price-reaction measurement.
How did other Residential Commercial Projects companies do?
Among 42 Residential Commercial Projects peers that filed this quarter, the median revenue growth was 15.7%. Thirty peers grew slower than Puravankara and 12 grew faster than the company. Puravankara’s consolidated revenue growth of 60.3% was above the peer median.
Of the 42 peers whose profit was compared, 23 reported higher profit. The peer comparison was recorded as of 6 November 2026.
| Puravankara revenue growth (YoY) | +60.3% |
|---|---|
| Median of 42 other Residential Commercial Projects companies | +15.7% |
| Companies with slower revenue growth than Puravankara | 30 of 42 |
| Companies with faster revenue growth than Puravankara | 12 of 42 |
| Companies whose net profit rose | 23 of 42 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Puravankara's revenue in Q2 FY27?
Revenue from operations was ₹1,032 crore, up 60.3% from ₹644.20 crore in Q2 FY26 (consolidated).
Did Puravankara make a profit in Q2 FY27?
Yes. Net profit was ₹83.74 crore, against a net loss of ₹42.99 crore in Q2 FY26.
What was Puravankara's EPS in Q2 FY27?
Basic earnings per share were ₹3.42, against a loss of ₹1.76 in Q2 FY26.
How did Puravankara shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.2% from the previous close; the median Residential Commercial Projects stock moved +0.3%.
When did Puravankara announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approving The Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 2026) · PDF
- The earnings call (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.