NEW DELHI: Puravankara reported pre-sales of ₹1,439 crore in Q1 FY27, achieving a 28% year-on-year growth.
Collections increased by 40% from the previous year to ₹1,199 crore during the quarter. The sales area expanded to 1.36 million sq ft, marking a 9% rise compared to the same period last year.
The average price realization improved by 18% year-on-year to ₹10,589 per sq ft. The company delivered 0.94 million sq ft, completing 745 homes during this quarter.
Additionally, Puravankara finalized an agreement with ICICI Prudential AMC for the sale of its commercial property, Purva Zentech. The transaction values the property at an enterprise value of ₹625.94 crore. Of this, ₹145 crore will be obtained through the sale of shares of the SPV, with the remainder realized through agreed balance sheet adjustments.
Ashish Puravankara, the managing director, stated that the 18% rise in average price realization indicates the company’s focus on premium offerings and well-located projects.
During Q1 FY27, four land transactions were announced across approximately 41.93 acres, offering a cumulative development potential of about 4.23 million sq ft and an estimated gross development value of ₹5,200 crore.
In Sarjapura, Bengaluru, the firm entered a joint development agreement for a 6.4-acre land parcel with a sellable area of 0.8 million sq ft and a potential GDV exceeding ₹1,000 crore.
In Doddagubbi, North Bengaluru, they signed a joint agreement for an 11.23-acre land parcel with a sellable area of 0.74 million sq ft and an estimated GDV surpassing ₹1,100 crore.
Additionally, the company acquired a 9.73-acre land parcel in Sanna Ammanikere, located in North Bengaluru’s airport corridor, with a sellable area of 0.89 million sq ft and a GDV potential of about ₹800 crore.
They also secured a 14.57-acre land parcel in Mandur, Bengaluru, with a development potential of 1.8 million sq ft and an estimated GDV of ₹2,300 crore.
Puravankara remains on track to meet its FY27 sales target of ₹11,200 crore across the southern and western regions.
