Puravankara (PURVA) Q1 26/27 earnings summary

Executive summary

• Entered FY 2027 with improved operating rhythm, higher pre-sales, collections, and deliveries, and enhanced financial performance, including total revenue of ₹877 crore in Q1 FY27, up 63% year-over-year, and profit after tax of ₹25 crore versus a loss of ₹69 crore in Q1 FY26, driven by strong handover momentum and robust sales collections.

• Strategic investments in growth and disciplined capital allocation supported by robust demand in core markets, with expansion through launches and completions across Mumbai, Pune, Goa, and significant land acquisitions in Bengaluru totaling ₹5,200 crore GDV.

Financial highlights

• Pre-sales reached ₹1,439 crore, up 28% year-over-year; sales volume grew 9% to 1.36 million sq ft; average realization rose 18% to ₹10,589 per sq ft; collections increased 40% to ₹1,199 crore, with 745 homes handed over (0.95 million sq ft).

• Total income rose 63% year-over-year to ₹877 crore, with EBITDA margin expanding to 25% from 15% in Q1 FY26; profit before tax was ₹26 crore in Q1 FY27, compared to a loss of ₹90 crore in Q1 FY26.

• Operating inflows were ₹1,423 crore, with an operating surplus of ₹345 crore, up 46% year-over-year.

Outlook and guidance

• FY 2027 pre-sales guidance reaffirmed at ₹11,200 crore; debt reduction target of ₹700 crore maintained; EBITDA margin guidance held at 25%-30% for the overall portfolio.

• Launch pipeline of 20.48 million sq ft with estimated GDV of ₹27,300 crore and surplus potential of ₹19,831 crore over the next 3-5 years.

• Focus on expanding land bank, monetizing unsold inventory, and maintaining strong visibility for future cash flows.