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VMPL
Bengaluru (Karnataka) [India], October 10: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted real estate developers, reported pre-sales of Rs 1,322 crores in Q2FY26, marking a 4% year-on-year growth. The average price realisation improved by 7% year-on-year, while customer collections for the quarter grew by 8% year-on-year to Rs 1,047 crores. Commenting on the Company's performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, "In Q2 FY26, we sustained the growth momentum, driven entirely by sustenance sales, achieving pre-sales of Rs 1,322 crores and collections of Rs 1,047 crores, both improving year-on-year. This performance underscores the continued trust of our customers and the strength of our brand across markets. During the first half of FY26, we made significant progress in expanding our portfolio, adding over 6.36 million square feet of potential developable area with an estimated GDV of approximately Rs 9,100 crores. These include marquee acquisitions across Mumbai and Bengaluru, such as Malabar Hill and Chembur redevelopment projects, and large-scale partnerships in North and East Bengaluru. Our focus remains on disciplined execution and value creation through strategic expansion in high-demand micro-markets." Key Highlights Sales Performance - Pre-sales of Rs 1,322 crores in Q2 FY26 vs Rs 1,270 crore in Q2 FY25 (up by 4% Y-o-Y) - H1 FY26 pre-sales at Rs 2,445 crores vs Rs 2,349 crores in H1 FY25 (up 4% Y-o-Y) - Sales volume of 1.50 msft in Q2 FY26 and 2.75 msft in H1 FY26 - Average realisation improved to Rs 8,814/sft in Q2 FY26 (up by 7% Y-o-Y) and Rs 8,891/sft in H1 FY26 (up by 8% Y-o-Y) Collections - Customer collections from the real estate business stood at Rs 1,047 crores in Q2 FY26 (up by 8%) - Customer collections from the real estate business stood at Rs 1,904 crores in H1 FY26 (up by 1% y-o-y) Business Development (H1 FY26) - KIADB Hardware Park, North Bengaluru: Partnered with KVN Property Holdings LLP for a 24.59-acre land parcel with 3.48 msft developable area and potential GDV of over Rs 3,300 crores. - Chembur, Mumbai: Selected as the preferred developer for the redevelopment of eight residential societies, unlocking over 1.2 msft of development potential across ~4 acres, with an estimated GDV of Rs 2,100 crores. - Balegere, East Bengaluru: Entered into a joint development for a 5.5-acre land parcel with a combined potential GDV of over Rs 1,000 crores. - Malabar Hill, Mumbai: Through its wholly-owned subsidiary, Puravankara secured a prestigious redevelopment project with a GDV potential of ~Rs 2,700 crores, offering 0.7 million square feet of premium development on 1.43 acres. Outlook Over the past quarter, India's macro picture has shown renewed strength. Q1 FY26 real GDP climbed ~7.8% Y-o-Y, riding momentum across services, construction, and consumption. Meanwhile, the RBI has raised its FY26 growth projection to 6.8%, a notch above earlier forecasts, reflecting confidence that domestic demand and rural recovery will offset global headwinds. In Q3 CY25, residential demand grew ~1% Y-o-Y, with the Rs 1-2 crore segment driving volumes, even as new launches moderated slightly. Prices across major metros rose 5-17%, led by NCR, Bengaluru, and Chennai. Puravankara is well-placed to benefit from current real estate tailwinds. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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