Puravankara Limited — PPTs, 30-05-2025: Investor Presentation

1. Financial Highlights:

Puravankara reported total revenue of INR 2,093 Cr in FY25, down from INR 2,260 Cr in FY24. The company swung to a consolidated loss of INR 186 Cr from a profit of INR 42 Cr in the prior year. EBITDA margin declined to 18% from 23%. FY25 sales value dropped 15% YoY to INR 5,006 Cr with volumes down 23% at 5.67 msft. Q4 sales fell 34% YoY to INR 1,282 Cr, though average realization rose 10% to about INR 8,830 per sq.ft. Customer collections improved 9% to INR 3,937 Cr. Net debt increased slightly to INR 2,949 Cr, supported by a large inventory surplus of ~INR 15,949 Cr.

2. Strategic Initiatives & Growth Drivers:

The company added ~8 msft of land bank for INR 1,284 Cr and plans launches aggregating 13.55 msft in FY26. Pan-India expansion is a priority with increased focus on Mumbai and Pune, now 15% of sales value (up from 6%). Efforts include on-time project delivery, reducing residential debt per sq.ft, commercial project ramp-up, and digital transformation for customer experience. Sustainability is emphasized with 100% green building certification and ESG governance.

3. Business Developments:

A JV was formed for a 24.59-acre land parcel in North Bengaluru with GDV over INR 3,300 Cr, aiming for launch in 6 months. Redevelopment projects in Mumbai expanded with 0.63 msft signed in Andheri West and Pali Hills. New project phases launched across Bengaluru, Mumbai, Chennai, and Pune. Commercial capex rose to develop ~2 msft of office assets expected by FY26 end.

4. Market Position & Competitive Advantage:

Puravankara benefits from a diversified brand portfolio spanning luxury, premium affordable, commercial, and land development segments. Bengaluru remains core with 56% of sales, while increasing western India share enhances its geographic breadth. A large land bank of 61.36 msft (55.10 msft economic interest) and an integrated operating model underpin scale advantages and market leadership in key corridors.

5. Investor Implications:

Despite short-term profit pressure, a healthy sales pipeline, improved collections, disciplined capital deployment, and stronger presence in growth markets position Puravankara for positive growth potential. Execution on new launches, sales recovery, and margin improvement will be key to watch. Prudent debt management and substantial asset backing improve cash flow visibility, though ongoing losses signal execution risks requiring monitoring.