Puravankara's consolidated net loss widens to Rs 88 crore in Q4FY25

Q4 loss surges as revenue dips 40%, costs and inventory jump; FY25 ends with Rs 183 crore net loss despite strong pre-sales, robust collections and higher operating cash flows

Puravankara Limited, the Bengaluru-headquartered real estate major, saw its consolidated losses widen to Rs 88 crore in the fourth quarter ended March 2025, from a loss of Rs 6.71 crore in the same quarter last financial year. Revenue from operations for the quarter declined 40.4 per cent to Rs 563.7 crore, from Rs 946.8 crore in the corresponding period of the previous year.

 

The company’s inventory — including flats, land stock, and work-in-progress — ballooned to Rs 430 crore in Q4FY25, up from Rs 45.48 crore in the same quarter last year. Land purchase cost more than doubled to Rs 191.8 crore from Rs 87.6 crore during the period. Sub-contractor costs also rose to Rs 424 crore versus Rs 397 crore, contributing to the overall income turning negative.

 

 

“FY25 saw record sustenance sales, and our western India investments are now poised to come to market. We are also actively pursuing several major redevelopment projects. With over 13.5 million square feet in the pipeline group-wide, and key approvals in place, we are optimistic about delivering long-term value to all stakeholders while reinforcing our legacy of trust and innovation,” said Ashish Puravankara, Managing Director, Puravankara Limited.

 

In Q4FY25, pre-sales stood at Rs 1,282 crore, driven by a sales volume of 1.42 million square feet and collections of Rs 946 crore.

 

For the full year FY25, the company achieved pre-sales of Rs 5,006 crore, with a sales volume of 5.67 million square feet and a 10 per cent year-on-year (YoY) increase in sales realisation to Rs 8,830 per square foot. Collections for the year stood at Rs 3,937 crore, reflecting 9 per cent growth over the previous year.

 

Total revenue stood at Rs 2,093 crore, while operating cash inflows rose by 10 per cent YoY to Rs 4,342 crore. The FY25 net loss was reported at Rs 182.92 crore. In comparison, the company had posted a net profit of Rs 42 crore in FY24. For the full year, inventories increased to Rs 1,935.5 crore in FY25, more than tripling from Rs 597.3 crore in FY24. 

 

The company said it continues to invest in its Grade A commercial portfolio, with nearly 2 million square feet expected to receive occupancy certificates (OCs) in FY26, thereby enhancing annuity income visibility.

 

Despite approval delays that impacted some project launches — including regulatory shifts such as the new e-khata policy — approvals have now begun to come through, setting the stage for a more active launch calendar in the coming quarters, the company said.

 

Puravankara delivered approximately 3.09 million square feet in FY25 and expects OCs for key projects like Atmosphere, Oakshire, and Capella in Bengaluru, and Adora De Goa in Goa in FY26. These have a combined saleable area of 3.95 million square feet and a gross development value (GDV) of Rs 3,200 crore.

 

The realtor highlighted that net debt stood at Rs 2,949 crore for FY25, up from Rs 2,151 crore in March 2024, largely due to a rise in capital expenditure. Residential debt declined by Rs 132 crore, reflecting strong project cashflows and operational efficiency. However, land-related debt increased by Rs 164 crore due to incremental investment in Mumbai projects during the quarter. “We have done land investment of Rs 1,284 crore in FY25, including acquisition of landowner’s share of Rs 377 crore,” the company said in its investor presentation.

 

In FY26, the company intends to launch 9.25 million square feet, including new projects and phases in existing ones, across Bengaluru, Mumbai, and Kochi. It launched a developable area of 7.38 million square feet and opened 3.6 million square feet for sale at the time of launch in FY25. Of this, Bengaluru constituted 31 per cent, Chennai 23 per cent, Mumbai 29 per cent, and Pune 17 per cent.

 

Puravankara announced its results post-market hours. Shares of the company closed at Rs 262.9 apiece, up 2.08 per cent on the NSE on Friday.