Bengaluru headquartered real estate firm Puravankara Limited reported pre-sales of Rs 1,439 crore in the first quarter of financial year 2026-2027 (Q1FY27), marking a 28% YoY growth. The developer’s collection rose 40% year-on-year (YoY) to Rs 1,199 crore, and sales area for the quarter stood at 1.36 million square feet (msft), a 9% increase over the same period last year.
Further, average price realisation improved 18% YoY to Rs 10,589 per sq ft, and Puravankara handed over 0.94 msft, delivering 745 homes, in Q1FY27. Following the update, shares of Puravankara jumps 16% on NSE and settled 11% higher at Ra 249.40 apiece.
Ashish Puravankara, Managing Director, Puravankara, said that the the 18% YoY increase in average price realisation is a clear indication that their strategic shift towards premiumisation and well-located, high-quality developments is translating into tangible value for both their customers and shareholders.
“We also remained active on the business development front, announcing four land transactions during the quarter with a cumulative Gross Development Value (GDV) of 5,200 crore. These additions strengthen our project pipeline and support our objective of sustaining long-term, profitable growth,” he added. Puravankara believes that they are firmly on track to achieve FY 2026–27 sales guidance of Rs 11,200 crore across the Southern and Western regions.
Further, the company entered into a definitive agreement with ICICI Prudential AMC for the sale of its commercial property, Purva Zentech. The transaction values the asset at an enterprise value of Rs 625.94 crore. Of the total consideration, Rs 145 crore will be received through the sale of shares of the SPV, while the balance will be realised through agreed balance sheet adjustments in accordance with the transaction structure.
In Q1 FY27, Puravankara announced four land transactions in Bengaluru spanning approximately 41.93 acres, with a cumulative development potential of around 4.23 msft and a total estimated GDV of Rs 5,200 crore.
The developer said that India's real estate sector continues to show resilience even as the broader economy navigates a more cautious growth environment. It added that a stable rate environment, combined with steady office leasing demand from IT, BFSI, and GCC occupiers, continues to support healthy residential absorption in the premium segment.
