Puravankara Limited’s Board of Directors convened on February 12, 2026, approving the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. Key decisions included the five-year re-appointment of Managing Director Mr. Ashish Ravi Puravankara, approval for a postal ballot notice, and the merger of two wholly-owned subsidiaries: IBID Home Private Limited and Purva Woodworks Private Limited.
Outcome of Board Meeting – February 12, 2026
The Board of Directors of Puravankara Limited met on Thursday, February 12, 2026, and approved several significant corporate actions, effective from the meeting conclusion at 06:15 P.M. (IST).
Financial Results Review
The Board considered and approved the Draft Un-audited Standalone and Consolidated Financial Results for the quarter and nine months ending December 31, 2025, alongside the Limited Review Report.
Standalone Performance Highlights (Q3 FY2026 vs. Previous Periods)
In the quarter ended December 31, 2025, the Standalone Total Income stood at ₹760.15 crore. Total Expenses were ₹673.83 crore, resulting in a Net Profit After Tax of ₹63.79 crore, compared to a net loss of ₹36.21 crore in the preceding quarter (ended September 30, 2025).
Consolidated Performance Highlights (Q3 FY2026 vs. Previous Periods)
On a consolidated basis for the quarter ended December 31, 2025, Total Income reached ₹1,104.06 crore. Total Expenses amounted to ₹1,025.35 crore. The resulting Net Profit After Tax was ₹58.34 crore, contrasting with a net loss of ₹42.99 crore reported for the quarter ended September 30, 2025.
Key Corporate Approvals
Re-appointment of Managing Director
The Board approved the re-appointment of Mr. Ashish Ravi Puravankara (DIN: 00504524) as Managing Director for a period of five years, commencing from April 01, 2026, till March 31, 2031. This action is subject to shareholder approval via Postal Ballot.
Mr. Puravankara, who is also the brother of Whole Time Director Ms. Amanda Joy Puravankara, oversees the entire business, leveraging his vision, which has led to the launch of Provident Housing and Purva Land. He is widely recognized in the industry and is not debarred by any regulatory authority.
Approval of Subsidiary Merger
The Board approved the Merger of IBID Home Private Limited (Transferor Company) and Purva Woodworks Private Limited (Transferee Company), both being Wholly Owned Subsidiaries (WOS).
The rationale centers on optimizing the substantial investment made in IBID by integrating its digital assets (under the brand WATABID.COM) into the active operating company, Purva Woodworks Private Limited. This integration aims to expand Woodworks’ market reach and competitiveness through digital enablement. The transaction is not classified as a related party transaction done at an arm’s length, and there is no cash consideration, meaning it is not applicable.
Procedural Approvals
Approval was also granted for the Postal Ballot Notice, along with the Explanatory Statement, pursuant to relevant sections of the Companies Act, 2013.
Auditor’s Review Notes (Standalone)
The review report by S.R. Batliboi & Associates LLP drew attention to Note 4 regarding ongoing legal proceedings related to property, income tax searches, and other matters. The auditors confirmed that based on their review, nothing caused them to believe the standalone results contained a material misstatement, although their conclusion relied partly on reports from auditors of three partnership entities.
Source: BSE
