Puravankara Q2 FY27 Results (NSE: PURVA)
Signal: Steady quarter
The read
The operating trajectory is not yet a clean recovery: consolidated revenue rose to ₹1,032.50 crore, +60.3% YoY and +21.7% QoQ, but pre-exceptional PBT was a ₹54.98 crore loss, while standalone PAT of ₹94.31 crore was largely created by the ₹144.99 crore subsidiary-sale gain.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,032.5 Cr | +60.3% | +21.7% |
| EBIT margin | N/A |
P&L walk
Consolidated revenue was ₹1,032.50 crore, +60.3% YoY and +21.7% QoQ, but expense growth led to pre-exceptional PBT of ₹(54.98) crore versus ₹26.02 crore in the preceding quarter; consolidated PAT and EPS are not present in the supplied filing text.
Segments
The company reports a single real estate development and related activity segment; the material standalone-versus-group gap is visible in standalone PAT of ₹94.31 crore versus consolidated pre-exceptional PBT of ₹(54.98) crore, although consolidated PAT is not included in the supplied excerpt.
Key positives
- Consolidated revenue from operations increased to ₹1,032.50 crore, +60.3% YoY and +21.7% QoQ.
- Standalone operating cash flow improved to ₹174.04 crore in H1FY27 from ₹33.79 crore in H1FY26.
- Standalone trade receivables declined to ₹368.63 crore from ₹404.27 crore at 31 March 2026, while cash and cash equivalents increased to ₹491.16 crore from ₹324.89 crore.
Key concerns
- Consolidated pre-exceptional PBT was a ₹54.98 crore loss despite revenue growth of +60.3% YoY, indicating weak conversion of top-line growth into operating profit.
- Standalone PAT of ₹94.31 crore included a ₹144.99 crore exceptional gain; standalone pre-exceptional PBT remained a ₹38.90 crore loss.
- Consolidated finance cost increased 7.0% YoY to ₹180.42 crore, while consolidated other expenses increased 95.3% YoY to ₹230.87 crore.
- Inventory increased to ₹6,309.33 crore from ₹6,049.50 crore at 31 March 2026, keeping capital intensity high.
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