Bengaluru: Puravankara Limited (NSE: PURVA | BSE: 532891),
one of India’s most trusted and admired real estate developers, announced its
results for the quarter ending March 31, 2025, and consolidated results for
FY25. The year was marked by continued expansion across strategic
markets, disciplined capital allocation, and laying the groundwork for future
growth.
In Q4FY25, Pre-sales stood at Rs 1,282 crore, driven by a sales volume
of 1.42 million square feet and healthy collections of Rs 946 crore. Total
revenue for the quarter stood at Rs 564 crore.
For FY25, the company achieved robust pre-sales of Rs 5,006 crore, with
a sales volume of 5.67 million square feet and a 10% year-on-year increase in
sales realisation to Rs 8,830 per square foot. Collections for the year stood
at Rs 3,937 crore, reflecting a 9% growth over the previous year. Total revenue
came in at Rs 2,093 crore, while operating cash inflows grew by 10% YoY to Rs
4,342 crore.
Commenting on the company's strategic direction, Ashish
Puravankara, Managing Director, Puravankara Limited, said, “We have
entered our Golden Jubilee year with a clear focus on growth, backed by bold
investments and disciplined execution. FY25 saw record sustenance sales, and
our western India investments are now poised to come to market. We are also
actively pursuing several major redevelopment projects. With over 13.5 million
sq. ft. in the pipeline group-wide, and key approvals in place, we are
optimistic about delivering long-term value to all stakeholders while
reinforcing our legacy of trust and innovation.”
Kicking off FY26 on a strong note, the company announced a strategic
joint venture with KVN Property Holdings LLP to develop a 24.59-acre land
parcel in North Bengaluru’s KIADB Hardware Park. With an estimated gross
development value (GDV) of over Rs 3,300 crore and a saleable area of 3.48
million square feet, the project further strengthens the Group’s launch
pipeline and regional dominance.
During FY 24-25, Puravankara expanded its presence in Western India by
acquiring four marquee projects, including redevelopment projects, across
Lokhandwala, Pali Hill, Breach Candy, and Thane, unlocking a combined Gross
Development Value (GDV) potential of over Rs 9,500 crore. These investments
reflect the company’s commitment to derive 40% of future revenues from Mumbai
and Pune, supported by strong demand and premium positioning in these
micro-markets.
In March 2025, the company successfully launched its much-awaited
project, ‘Purva Panorama’ in Thane, Mumbai, with a total development potential
of 3 million square feet and an estimated GDV of Rs 4,000 crore. The project
received an excellent response, commencing with Tower C, which covers 0.52
million square feet. The company is poised for substantial growth in its West
portfolio.
The Company continues to invest in its Grade A commercial portfolio,
with nearly 2 million sq. ft. expected to receive occupancy certificates (OCs)
in FY26, thereby enhancing annuity income visibility.
Despite approval delays that impacted some project launches—including
regulatory shifts such as the new e-khata policy—approvals have now begun to
come through, setting the stage for a more active launch calendar in the coming
quarters. The company has delivered approximately. 3.09 million square feet in
FY25 and is expecting occupancy certificates (OC) for key projects like
Atmosphere, Oakshire, Capella in Bengaluru & Adora De Goa in Goa in FY26
with a total saleable area of 3.95 million square feet and a total GDV of Rs
3200 crore. This will enable a ramp-up in handovers and revenue recognition in
the coming quarters.
Aligned with its Golden Jubilee vision, Puravankara has also initiated
changes as part of a company-wide effort to drive operational synergy and
further enhance the customer experience. These initiatives are geared toward
better integration across its portfolio, leading to better delivery timelines,
increased transparency, and overall improved execution efficiency.
As the Indian real estate market matures and consolidates, Puravankara
continues to build for the long term, with a robust land bank, premium market
presence, and a customer-first approach that has stood the test of five
decades.
Yearly Performance Summary (FY25)
- Area sold: 5.67 msft
- Sales value: Rs 5,006
crore
- Sales realisation: Rs
8,830/sft
- Total Revenue: Rs
2,093 crore
- Loss: Rs 186 crore
Quarterly Performance Summary (Q4FY25)
- Area sold: 1.42 msft
- Sales value: Rs 1,282
crore
- Sales realisation: Rs
9,031/sft
- Total Revenue: Rs 564
crore
- Loss: Rs 88 crore
Projected Cash Flows
As of 31st March 2025,
- Total estimated
surplus from all completed and ongoing projects is Rs 8,505 crore.
- The estimated surplus
from commercial projects stood at Rs 1,870 crore.
- The estimated surplus
from the launch pipeline stood at Rs 5,574 crore.
- The total estimated
surplus stood at Rs 15,949 crore.
Debt
The company’s net debt stood at Rs 2,949 crore, and the net
debt-to-equity ratio stood at 1.70 as of 31st March 2025. The
weighted average cost of debt stood at 11.85% as of 31st March
2025.