Puravankara Q1 FY27 Earnings Call — Analysis (NSE: PURVA)
Puravankara delivers 28% YoY presales growth, positive PAT turnaround, and reiterates ₹11,200 Cr FY27 presales guidance while advancing capital recycling.
Result quality: strong — Loss reversed. Management sentiment: neutral.
The take
Q1FY27 Total Income ₹877 Cr ( +63% YoY ) .
Results
Presales ₹1,439 Cr +28% YoY; collections ₹1,199 Cr +40% YoY; total income ₹877 Cr +63% YoY; EBITDA margin 25% (+1,000 bps YoY); PAT ₹25 Cr vs -₹69 Cr loss YoY.
Financial highlights
| Metric | Value | Change | Basis |
|---|---|---|---|
| Presales | ₹1,439 Cr | +28% | yoy · Q1FY27 |
| Collections | ₹1,199 Cr | +40% | yoy · Q1FY27 |
| Total Income | ₹877 Cr | +63% | yoy · Q1FY27 |
| EBITDA Margin | 25% | +1,000 bps | yoy · Q1FY27 · Q1 FY26 15% |
| Profit After Tax | ₹25 Cr | +turnaround from -₹69 Cr | yoy · Q1FY27 |
| Gross Debt | ₹2,836 Cr | -₹74 Cr | sequential · 30-Jun-26 · vs Mar-26 |
| Net Debt/Equity | 1.57x | point_in_time · 30-Jun-26 · as of Q1FY27 | |
| Cash & Bank | ₹1,106 Cr | point_in_time · 30-Jun-26 · as of Q1FY27 | |
| Avg Cost of Debt | 11.12% | point_in_time · Q1FY27 |
Guidance
FY27 presales guidance of ₹11,200 Cr and debt reduction of ₹700 Cr reaffirmed; EBITDA margin guidance of 25-30% maintained.
Key themes
Resilient demand and capital recycling
Operational commentary
- Acquired 4 land parcels in Bengaluru (~41.93 acres, GDV ₹5,200 Cr) through JDA and outright purchase, funded from internal cash without increasing debt.
- Signed definitive agreement with ICICI Prudential AMC for Purva Zentech at EV ~₹625 Cr; closing expected in August 2026; will reduce ₹250 Cr of asset-level debt, enhance financial flexibility.
- Westend (Bengaluru) received RERA and launched with strong EOIs; Cityspire & Winworth (Kochi) awaiting RERA, expected launch in Q2; Hennur Road delayed due to Karnataka govt changes but clarity emerging.
- Mumbai projects: Purva Miami (Breach Candy) RERA received; Pali Hill to apply for RERA by Sep, launch Oct-Nov; Apna Ghar 3 & Deonar Baug launch Q4.
Research and educational content only. Not investment advice.