Puravankara Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Puravankara Ltd filed with BSE on 25 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Puravankara reported presales of Rs 3,547 crore for Q4 FY26, up 190% year-on-year, and full-year FY26 presales of Rs 7,407 crore, up 55% year-on-year. Total income for the quarter rose 173% year-on-year to Rs 1,541 crore with an EBITDA margin of 22% and profit after tax of Rs 111 crore versus a loss in the year-ago quarter. Management gave guidance for FY27 of approximately Rs 11,200 crore in presales and a debt reduction target of about Rs 750 crore.
Numbers mentioned
Presales: INR3,547 crores (Q4 FY26)
p. 4
“During Q4 FY26, our presales stood at INR3,547 crores, registering a strong growth of 190% year-on-year and 151% sequentially.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Presales: INR7,407 crores (FY26)
p. 4
“For the full year FY26, presales reached to an all-time high of INR7,407 crores, reflecting a robust year-on-year growth of 55%.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Customer collection: INR1,213 crores (Q4 FY26)
p. 4
“Customer collection during Q4, FY26 stood at INR1,213 crores, up 36% year-on-year, while FY26 collection reached a record INR4,258 crores, reflecting a growth of 15% year-on-year.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Sales volume: 3.01 million square feet (Q4 FY26)
p. 4
“Sales volume during Q4 FY26 stood at 3.01 million square feet compared to 1.42 million square feet in Q4 FY25, reflecting a strong demand momentum during the quarter.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Average realization: INR11,787 per square feet (Q4 FY26)
p. 4
“Average realization also improved significantly by 37% year-on-year to INR11,787 per square feet, driven by better pricing and improved product mix across markets.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Total income: INR1,541 crores (Q4 FY26)
p. 4
“Total income grew to INR1,541 crores in Q4 FY26 compared to INR564 crores in the same period last year, reflecting a strong year-on-year growth of 173% driven by higher handovers during the quarter.”
Neeraj Gautam, page 4 of the filed PDF · View the filing
EBITDA margin: 22% (Q4 FY26)
p. 4
“On the profitability front, we reported an EBITDA margin of 22% in Q4 FY26 reflecting a significant improvement in operational efficiency, better cost control and operating leverage as”
Neeraj Gautam, page 4 of the filed PDF · View the filing
Profit after tax: INR111 crores (Q4 FY26)
p. 5
“a result of reported profit after tax of INR111 crores for the quarter compared to a loss of INR88 crores in similar quarter previous financial year.”
Neeraj Gautam, page 5 of the filed PDF · View the filing
Net debt: INR2,321 crores (as on 31st March 2026)
p. 5
“Coming to our debt net debt stood at INR2,321 crores as on 31st March 2026 with a net debt equity ratio of 1.31x.”
Neeraj Gautam, page 5 of the filed PDF · View the filing
Cash and bank balance: INR1,695 crores (as on 31st March 2026)
p. 5
“Our cash and bank balance as on 31st March 2026 stood at INR1,695 crores, indicating a strong liquidity profile and ensuring operational stability.”
Neeraj Gautam, page 5 of the filed PDF · View the filing
Cost of debt: 11.05% (as on 31st March 2026)
p. 5
“Additionally, the cost of debt also declined further to 11.05%.”
Neeraj Gautam, page 5 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Presales — approximately INR11,200 crores · FY26-27
stated firmly by Neeraj Gautam
p. 6
“We are targeting a presales value of approximately INR11,200 crores for FY26-27 and the total projected number around 48% is expected to be driven by sustained sales with the remaining 52% is anticipated to come from new product launches.”
Neeraj Gautam, page 6 of the filed PDF · View the filing
Debt reduction — approximately INR750 crores · FY26-27
stated conditionally by Neeraj Gautam
p. 6
“On the balance sheet front, we are targeting a debt reduction of approximately INR750 crores for FY26-27, excluding any incremental borrowing undertaken for strategic business development opportunities.”
Neeraj Gautam, page 6 of the filed PDF · View the filing
Bandra project launch — Dusshera to Diwali
stated as an aspiration by Rajat Rastogi
p. 6
“So, I think we're looking at around the Dusshera to Diwali as a launch period for us to launch.”
Rajat Rastogi, page 6 of the filed PDF · View the filing
Southern market sales contribution to FY27 guidance — about INR7,000 crores · FY27
stated firmly by Neeraj Gautam
p. 16
“Out of that, about INR7,000 crores will come from the Southern market and remaining sales we are expecting to come from the west and commercial business.”
Neeraj Gautam, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management quantified the pipeline value precisely.
Answered by Rajat Rastogi
Asked by Deepak Purswani: What is the GDV of the full launch pipeline of 14.85 million square feet?
p. 6
“INR22,547 crores to be precise.”
Rajat Rastogi, page 6 of the filed PDF · View the filing
Management attributed prior delays to regulatory and administrative changes in Bangalore and expressed confidence most projects will now launch.
Answered by Mallanna Sasalu
Asked by Deepak Purswani: How confident is management about launching the pending pipeline on time given past slippages?
p. 7
“We are reasonably confident or I should say that most of the projects have to go through the most of the projects will go through to the launch.”
Mallanna Sasalu, page 7 of the filed PDF · View the filing
Management explained that large late-quarter launches will generate collections in the following financial year.
Answered by Neeraj Gautam
Asked by Deepak Purswani: Why has collection growth been flat despite strong sales?
p. 7
“The collection will follow in the next financial year. And also, we have given a guidance on INR11,200 crores of sales for the next financial year.”
Neeraj Gautam, page 7 of the filed PDF · View the filing
Management broke down the surplus into ongoing projects, commercial assets, and the new launch pipeline.
Answered by Neeraj Gautam
Asked by Chintan Mehta: What is the estimated surplus cash flow and how is it calculated?
p. 10
“If those new launches, if I estimate a surplus from those new launches that will come about another INR8,343 crores and thereby adds up all three, the estimated surplus from current ongoing projects, commercial projects in the launch pipeline, it comes to INR19,290 crores.”
Neeraj Gautam, page 10 of the filed PDF · View the filing
Management gave the residual land bank figure after subtracting the guided pipeline from total land assets.
Answered by Neeraj Gautam
Asked by Chintan Mehta: How much land bank will remain after accounting for the launch guidance?
p. 10
“Our current land asset is about 56.48 million square feet. Out of that, we have given a guidance of about 21 million square feet right now.”
Neeraj Gautam, page 10 of the filed PDF · View the filing
Management disclosed the order book size for the unlisted construction subsidiary.
Answered by Neeraj Gautam
Asked by Chintan Mehta: What is the current order book for Starworth?
p. 11
“Coming to the order book is concerned, Starworth today has an order book of more than INR2,000 crores.”
Neeraj Gautam, page 11 of the filed PDF · View the filing
Management said they have not seen a large difference and view AI-driven GCC growth as positive for the market.
Answered by Mallanna Sasalu
Asked by Harsh Pathak: Is AI-related demand uncertainty in Bangalore affecting residential sales?
p. 13
“I don't see that in the residential development at least that we are seeing any kind of a large difference.”
Mallanna Sasalu, page 13 of the filed PDF · View the filing
Management described Zentech as nearly half leased or sold ahead of OC and said RFP activity at AeroCity is strong.
Answered by Rajat Rastogi
Asked by Harsh Pathak: What is the leasing traction at Zentech and AeroCity commercial assets?
p. 14
“I think if you look at the Zentech asset, we're already almost 44% either leased or sold.”
Rajat Rastogi, page 14 of the filed PDF · View the filing
Management clarified that fair value accounting requires charging notional interest to the P&L even though actual repayment is linked to project performance.
Answered by Neeraj Gautam
Asked by Dhananjay Mishra: Is NCD interest included in the reported interest cost, and is it actually being paid?
p. 15
“But for the fair value accounting perspective, today, we have to get as a -- has this debt continued and taken on an arm's length basis, what would have been the cost on that basis, we have to charge P&L and that has been done.”
Neeraj Gautam, page 15 of the filed PDF · View the filing
Risks flagged
Global geopolitical conditions in West Asia may raise energy prices, disrupt supply chains and increase logistics costs
p. 3
“This expected easing is largely due to global factors, including geopolitical conditions in West Asia, which may lead to higher energy price, supply chain disruption and increased logistics costs.”
Neeraj Gautam, page 3 of the filed PDF · View the filing
Rising construction costs due to higher diesel prices
p. 12
“As part of the second part of this the construction cost, at this point of time, yes, we are looking at some 6% to 7% construction costs going up because of the diesel prices, which went up recently.”
Mallanna Sasalu, page 12 of the filed PDF · View the filing
Possible impact of geopolitical uncertainty and war-like situations on customer sentiment and NRI earnings abroad
p. 12
“But whether it is a positive or negative at this point of time, we couldn't say that because, generally, people want to invest from outside the country in India when there is distress outside the country.”
Mallanna Sasalu, page 12 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.