Company is in the business of development and sale of real estate. Projects in metro cities like Bengaluru, Hyderabad, Chennai, Kolkata, Mumbai, Pune and Goa.Company has completed 43 million square feet covering 74 projects.[1]
Brands & Offerings1. Puravankara (luxury housing and commercial offices):[1]This segment covers 55% of ongoing projects and 39% of new launches in the pipeline[2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | DLF | 703.25 | 45.12 | 174137.94 | 0.85 | 1180.09 | -27.08 | 1643.04 | -16.81 | 6.51 | 9016.03 | 22.47 | 3859.74 | 1007.10 | 4.05 | 7.30 | 0.04 |
| 2. | Lodha Developers | 1110.90 | 33.34 | 110990.74 | 0.38 | 789.80 | 86.50 | 3798.50 | 44.67 | 15.62 | 15597.50 | 29.61 | 3329.50 | 788.70 | 5.21 | 5.70 | 0.45 |
| 3. | Prestige Estates | 1619.50 | 91.08 | 69720.91 | 0.11 | 457.40 | 123.88 | 2431.70 | 5.52 | 7.66 | 7921.90 | 36.60 | 765.50 | 430.30 | 4.41 | 1.15 | 0.92 |
| 4. | Phoenix Mills | 1942.60 | 64.93 | 69468.83 | 0.13 | 384.09 | 39.38 | 1115.43 | 21.51 | 10.75 | 4059.89 | 57.73 | 1069.86 | 303.99 | 6.44 | 6.11 | 0.46 |
| 5. | Godrej Propert. | 2138.20 | 41.59 | 64455.44 | 0.00 | 402.99 | 20.84 | 740.38 | -32.28 | 6.57 | 4265.55 | -18.34 | 1549.83 | 405.08 | 3.52 | 2.67 | 0.89 |
| 6. | Oberoi Realty | 1708.70 | 27.81 | 62098.13 | 0.47 | 760.26 | 28.98 | 1779.04 | 34.79 | 17.73 | 5327.81 | 56.59 | 2233.06 | 760.26 | 3.71 | 10.23 | 0.18 |
| 7. | Brigade Enterpr. | 886.90 | 27.27 | 21688.21 | 0.28 | 170.28 | 36.58 | 1383.37 | 29.03 | 13.34 | 5588.84 | 26.50 | 795.44 | 162.50 | 3.35 | 3.39 | 0.83 |
| 8. | Puravankara | 240.15 | – | 5708.12 | 0.00 | -36.21 | -43.18 | 334.40 | 21.44 | 1.00 | 804.83 | -9.07 | -229.41 | -36.21 | 4.11 | -2.10 | 1.55 |
| – | Median: 96 Co. | 166.41 | 33.7 | 858.24 | 0.0 | 4.2 | 7.3 | 44.19 | 9.84 | 7.61 | 164.13 | 16.9 | 11.18 | 3.3 | 2.99 | 2.39 | 0.44 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 246 | 313 | 189 | 175 | 298 | 126 | 249 | 430 | 155 | 55 | 187 | 275 | 334 |
Expenses | 184 | 202 | 198 | 151 | 276 | 157 | 265 | 445 | 201 | 50 | 154 | 266 | 321 |
Operating Profit | 62 | 111 | -9 | 24 | 22 | -31 | -17 | -15 | -46 | 5 | 33 | 10 | 13 |
Other Income | 23 | 15 | -20 | 15 | 21 | 12 | 96 | 69 | 17 | 12 | 11 | 21 | 15 |
Profit before tax | 30 | 67 | -98 | -16 | -20 | -90 | 30 | -7 | -96 | -30 | -14 | -32 | -48 |
Tax % | 20% | 25% | -16% | -24% | -24% | -25% | -23% | -195% | -21% | -21% | -26% | -22% | -24% |
Net Profit | 24 | 50 | -82 | -12 | -15 | -68 | 36 | 6 | -76 | -24 | -11 | -25 | -36 |
EPS in Rs | 1.02 | 2.11 | -3.48 | -0.52 | -0.64 | -2.87 | 1.54 | 0.27 | -3.20 | -1.00 | -0.45 | -1.07 | -1.53 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 923 | 1,202 | 1,016 | 976 | 886 | 1,472 | 1,271 | 564 | 730 | 648 | 1,106 | 918 | 805 |
Expenses | 618 | 946 | 769 | 682 | 713 | 1,160 | 1,009 | 381 | 434 | 577 | 952 | 941 | 878 |
Operating Profit | 305 | 256 | 247 | 295 | 173 | 312 | 262 | 183 | 297 | 72 | 153 | -23 | -73 |
Other Income | 54 | 25 | 77 | 56 | 105 | 67 | 51 | 67 | 211 | 252 | 109 | 38 | 24 |
Interest | 211 | 192 | 204 | 232 | 182 | 238 | 256 | 252 | 191 | 188 | 222 | 248 | 270 |
Depreciation | 6 | 11 | 11 | 10 | 9 | 10 | 12 | 11 | 9 | 8 | 11 | 12 | 12 |
Profit before tax | 141 | 78 | 110 | 109 | 87 | 132 | 45 | -14 | 307 | 128 | 29 | -246 | -332 |
Net Profit | 106 | 85 | 86 | 95 | 77 | 92 | 31 | -10 | 166 | 114 | 34 | -199 | -263 |
EPS in Rs | 4.47 | 3.60 | 3.63 | 4.00 | 3.26 | 3.87 | 1.29 | -0.41 | 7.00 | 4.82 | 1.41 | -8.38 | -11.08 |
Dividend Payout % | 43% | 43% | 22% | 56% | 49% | 26% | 0% | 0% | 71% | 21% | 445% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 | 119 |
Reserves | 1,692 | 1,732 | 1,780 | 1,855 | 1,874 | 1,529 | 1,532 | 1,521 | 1,687 | 1,681 | 1,568 | 1,371 | 1,269 |
Borrowings | 1,500 | 1,522 | 1,806 | 1,550 | 1,829 | 2,168 | 2,123 | 1,860 | 1,509 | 1,726 | 1,966 | 2,055 | 2,151 |
Other Liabilities | 661 | 845 | 787 | 1,341 | 1,458 | 2,344 | 1,952 | 2,167 | 2,336 | 2,923 | 3,902 | 4,700 | 5,218 |
Total Liabilities | 3,972 | 4,218 | 4,491 | 4,865 | 5,279 | 6,161 | 5,726 | 5,667 | 5,651 | 6,448 | 7,554 | 8,246 | 8,756 |
Fixed Assets | 77 | 86 | 50 | 81 | 99 | 94 | 77 | 63 | 50 | 38 | 58 | 57 | 53 |
Gross Block | 122.34 | 143.26 | 56.73 | 97.94 | 121.84 | 121.93 | 134.08 | 128.21 | 116.04 | 92.89 | 101.22 | 110.89 | – |
Accumulated Depreciation | 45.78 | 57.56 | 6.44 | 16.62 | 23.11 | 27.60 | 57.53 | 64.77 | 65.55 | 54.60 | 42.93 | 53.67 | – |
CWIP | 0 | 1 | -0 | 0 | 33 | 33 | -0 | -0 | 3 | -0 | 2 | 0 | -0 |
Investments | 57 | 39 | 462 | 33 | 43 | 46 | 63 | 70 | 46 | 278 | 351 | 361 | 380 |
Other Assets | 3,838 | 4,093 | 3,979 | 4,750 | 5,104 | 5,987 | 5,586 | 5,533 | 5,551 | 6,131 | 7,143 | 7,828 | 8,323 |
Total Assets | 3,972 | 4,218 | 4,491 | 4,865 | 5,279 | 6,161 | 5,726 | 5,667 | 5,651 | 6,448 | 7,554 | 8,246 | 8,756 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 86 | 291 | 36 | -160 | 173 | -97 | 283 | 368 | 383 | 47 | 855 | -16 |
Cash from Investing Activity | 1 | -64 | -19 | 556 | -215 | 40 | 43 | 202 | 180 | 114 | -458 | 42 |
Cash from Financing Activity | -158 | -237 | 58 | -513 | 48 | 80 | -302 | -558 | -526 | -68 | -99 | -187 |
Net Cash Flow | -72 | -11 | 75 | -117 | 5 | 22 | 24 | 12 | 38 | 93 | 298 | -160 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 96 | 95 | 79 | 109 | 68 | 30 | 44 | 105 | 72 | 196 | 87 | 67 |
Inventory Days | – | 1,501 | 2,473 | – | 6,759 | 2,460 | 2,770 | 25,233 | – | – | – | – |
Days Payable | – | 138 | 189 | – | 555 | 171 | 244 | 2,285 | – | – | – | – |
Cash Conversion Cycle | 96 | 1,458 | 2,363 | 109 | 6,273 | 2,319 | 2,570 | 23,054 | 72 | 196 | 87 | 67 |
Working Capital Days | 479 | 419 | 592 | 571 | 438 | 161 | 149 | 426 | 530 | 434 | -78 | -74 |
ROCE % | 11% | 8% | 9% | 9% | 7% | 10% | 8% | 7% | 10% | 6% | 7% | 1% |
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Stock Analysis
Puravankara Limited is a prominent Indian real estate developer headquartered in Bengaluru, operating across nine cities with distinct brands catering to various housing needs and expanding into commercial real estate.
Significant portfolio expansion with ₹13,900 Cr GDV in acquisitions and partnerships during 9MFY26, including large land parcels in Bengaluru and redevelopment projects in Mumbai, coupled with strong pre-sales and collection growth in Q3 FY26.
9MFY26 portfolio expansion includes over 12.76 msft developable area with an estimated GDV of ~₹13,900 Crores through strategic acquisitions and partnerships.
The company has faced historical net losses and has a high debt-to-equity ratio. Past performance shows a poor sales growth over five years and low return on equity.
Investors will monitor Q4 FY26 results and execution of large projects acquired. Upcoming investor calls and financial result announcements will be key.
Corporate Announcements
