VMPL
Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore.
Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way.
In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects.
We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over Rs 2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations.
Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation."
Key Highlights
-Puravankara selected as preferred developer for redeveloping eight residential societies in Chembur, Mumbai, unlocking over 1.2 million sq. ft. of potential across ~4 acres, with an estimated potential Gross Development Value (GDV) of Rs 2,100 crore.
-Entered into a joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated combined potential GDV of over Rs 1,000 crores.
-Achieved quarterly sales value of Rs 1,124 crores for Q1FY26 when compared to Rs.1,064 crore in Q1FY25; up by 6% y-o-y.
-Achieved quarterly sales volume of 1.25 million square feet for Q1FY26 when compared to 1.29 million square feet in Q1FY25.
-Average price realisation in Q1FY26 increased to Rs 8,988 /sft, up by 9% from Rs 8,246/sft in Q1FY25.
-Achieved quarterly customer collections from the real estate business of Rs 857 crores in Q1FY26.
-The company is on track to complete 2.2 million square feet of commercial projects this year.
Outlook
India's economic outlook for FY26 remains positive, with GDP growth projected to be between 6.2% and 6.5%, supported by resilient domestic demand and robust rural consumption. The Reserve Bank of India, in its June 2025 policy review, delivered a 50-basis-point cut in the repo rate, bringing it down to 5.50%, while also reducing the Cash Reserve Ratio by 100 basis points to 3% to inject liquidity into the system. These measures are expected to stimulate credit growth and further lower borrowing costs, benefiting both end-users and developers. Inflation remains within the RBI's target band, allowing policy to remain growth supportive.
The real estate sector continues to strengthen, driven by steady demand for premium housing and robust office leasing from IT, BFSI, and GCC companies. With improving affordability, lower home loan rates, and rising sector consolidation, Puravankara is well-positioned to leverage these tailwinds.
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