Puravankara Limited announces Q1 Financial Results and confirms CTO appointment

Puravankara Limited announces Q1 Financial Results and confirms CTO appointment​

Puravankara Limited announced the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The company's Board of Directors approved these results, which were reviewed by the Audit Committee. The board meeting also saw the approval of various annual reports and a significant leadership appointment.

Key outcomes from the August 14, 2026, Board Meeting include:

• Financial Results: Approval of Un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, along with their Limited Review Report.
• Future Meetings: A proposal to hold the 40th Annual General Meeting of the company for the financial year 2025-26 on Friday, September 25, 2026, via Video Conferencing/Other Audio Visual Means.
• Annual Report: Approval of the Annual Report for the financial year 2025-26, which includes the Directors' Report and Management Discussion & Analysis.

CTO Appointment Confirmed​

The Board also approved the appointment of Mr. Subrahmanya Gupta Boda as Chief Technology Officer (CTO), designated as Senior Managerial Personnel (SMP) of the company. This appointment was made in continuation of a prior intimation from May 19, 2026, and is effective from that date.

Mr. Gupta Boda has over 29 years of experience in leading Digital Transformation, Enterprise IT, Cybersecurity, Cloud Governance, and GCC setup. His expertise covers SAP, SFDC, multi-cloud governance, ISO 27001, GRC frameworks, PropTech and RPA enablement, and Data Centre modernization.

Financial Performance Highlights (Q ended June 30, 2026)​

The company's standalone performance metrics for the quarter included total income of 540.55 crore and total expenses of 514.60 crore, resulting in a net profit/(loss) of 17.87 crore. Earnings per share (basic and diluted) stood at 0.75.

For the consolidated entity, total income reached 877.15 crore, while total expenses were recorded at 851.09 crore. The net profit/(loss) for the quarter was 25.23 crore, translating to an Earnings per share (EPS) of 1.22.

The financial performance across various periods is detailed below:

Operational and Legal Disclosures​

The company provided detailed information regarding ongoing legal proceedings and tax matters in both its standalone and consolidated results, noting that no provision has been made for the consequential impact of these matters based on the management's legal evaluation.

Standalone Legal Matters:

• Ongoing legal proceedings related to property involve deposits and advances of Rs. 43.60 crore concerning joint development arrangements and land acquisitions requiring clear and marketable title.
• A search under Section 132 of the Income Tax Act conducted in October 2023 resulted in assessment orders that disallowed certain expenses, presenting a potential tax impact of Rs. 28.84 crore from AY 2016-17 to AY 2024-25.
• The company received notice under the Prohibition of Benami Property Transactions Act, 1988 regarding a 43.5 acres land parcel valued at Rs. 13.20 crore.

Consolidated Legal Matters:

• Ongoing legal proceedings include deposits and advances totaling Rs. 51.31 crore related to joint development arrangements.
• The Group faces claims from minority shareholders of a subsidiary amounting to Rs. 35.00 crore regarding project development terms.
• Inventory related to a launched project under land acquisition by government authorities stands at Rs. 82.70 crore. Receivables from customers amount to Rs. 64.20 crore, with other recoverable balances standing at Rs. 20.40 crore.
• The Group also faces tax scrutiny on expenses, potentially amounting to a tax impact of Rs. 45.08 crore from AY 2016-17 to AY 2024-25.

Furthermore, the company noted that an arrangement to sell its shareholding in subsidiary Purva Ruby Properties Private Limited is underway during the quarter, pending fulfillment of certain obligations, including obtaining regulatory approval.

PURVA Stock Price Movement​

Shares of Puravankara Limited slipped by 0.32% in today's trading session, closing at ₹218.21 in the post-market market. The stock recorded a total traded volume of 198,836 shares during the day.