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VMPL
Bengaluru (Karnataka) [India], July 13: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of 1,439 crore in Q1FY27, marking a 28% YoY growth. Collections rose 40% year-on-year (YoY) to 1,199 crore, reflecting sustained customer confidence and strong execution of delivery timelines. Sales area for the quarter stood at 1.36 million square feet (msft), a 9% increase over the same period last year, while average price realisation improved 18% YoY to 10,589 per sq ft. During the quarter, Puravankara handed over 0.94 msft, delivering 745 homes. Further, the company entered into a definitive agreement with ICICI Prudential AMC for the sale of its commercial property, Purva Zentech. The transaction values the asset at an enterprise value of 625.94 crore. Of the total consideration, 145 crore will be received through the sale of shares of the SPV, while the balance will be realised through agreed balance sheet adjustments in accordance with the transaction structure. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "Q1 FY27 marks a strong start to the year and reaffirms the resilience and depth of our business strategy. Sales value grew, and we saw a corresponding improvement in collections. The 18% YoY increase in average price realisation is a clear indication that our strategic shift towards premiumisation and well-located, high-quality developments is translating into tangible value for both our customers and shareholders. We also remained active on the business development front, announcing four land transactions during the quarter with a cumulative Gross Development Value (GDV) of 5,200 crore. These additions strengthen our project pipeline and support our objective of sustaining long-term, profitable growth. With this strong start to the year, we remain firmly on track to achieve our FY 2026-27 sales guidance of 11,200 crore across the Southern and Western regions, and we are confident of building on this momentum through the remainder of the year." Business Development for Q1 FY27 In Q1 FY27, Puravankara announced four land transactions spanning approximately 41.93 acres, with a cumulative development potential of around 4.23 msft and a total estimated GDV of 5,200 crore. Sarjapura, Bengaluru: Entered into a joint development agreement for a 6.4-acre land parcel with a potential GDV of over 1,000 crore and saleable area of 0.8 msft. Doddagubbi, North Bengaluru: Entered into a joint development agreement for an 11.23-acre land parcel with a potential GDV of over 1,100 crore and saleable area of 0.74 msft. Sanna Ammanikere, North Bengaluru: Acquired a 9.73-acre land parcel in the fast-developing airport corridor, with a GDV potential of approximately 800 crore, with a saleable area of 0.89 msft. Mandur, Bengaluru: Secured a 14.57-acre land parcel with a GDV of 2,300 crore, offering 1.8 msft of development potential. Outlook India's real estate sector continues to show resilience even as the broader economy navigates a more cautious growth environment. The Reserve Bank of India's June 2026 policy review held the repo rate steady at 5.25%, while moderating its FY27 GDP growth forecast to 6.6% amid elevated inflation projections of 5.1%. A stable rate environment, combined with steady office leasing demand from IT, BFSI, and GCC occupiers, continues to support healthy residential absorption in the premium segment. With a robust launch pipeline, disciplined balance sheet management, and increasing average price realisation reflected in Q1FY27, Puravankara remains confident of sustaining its growth trajectory and delivering on its FY27 guidance. (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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