Puravankara Limited’s Board of Directors, meeting on February 12, 2026, approved the Un-audited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. A key decision was the re-appointment of Mr. Ashish Ravi Puravankara as Managing Director for a five-year term, commencing April 1, 2026. Additionally, the Board sanctioned the merger of two wholly-owned subsidiaries.
Board Meeting Outcomes – February 12, 2026
The Board of Directors of Puravankara Limited convened on Thursday, February 12, 2026, and sanctioned several key resolutions, primarily focusing on financial disclosures and key managerial personnel changes.
Financial Results Approval
The Board approved the Draft Un-audited Standalone and Consolidated Financial Results for the period ending December 31, 2025, along with the Limited Review Report from the auditors. These results were previously reviewed and recommended by the Audit Committee.
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, starting from April 01, 2026, until March 31, 2031. This reappointment is subject to shareholder approval via Postal Ballot. Mr. Puravankara, who holds a BSc and an MBA, oversees the entire business, leveraging technology and driving growth, including the successful launch of Provident Housing and Purva Land.
Standalone Performance Highlights (Q3 FY2026 vs. Q3 FY2025)
- Total Income: Rose to ₹760.15 crore in Q3 FY2026 from ₹201.99 crore in the corresponding quarter last year.
- Net Profit/(Loss) for the Period: Recorded a profit of ₹63.79 crore in Q3 FY2026, compared to a loss of ₹82.49 crore in Q3 FY2025.
- Year-to-Date (9M FY2026) Net Profit: Stood at a loss of (₹122.86 crore).
Consolidated Performance Highlights (Q3 FY2026 vs. Q3 FY2025)
- Total Income: Increased to ₹1,104.06 crore in Q3 FY2026 from ₹334.20 crore in Q3 FY2025.
- Net Profit/(Loss) for the Period: Recorded a profit of ₹58.34 crore, against a loss of (₹92.64 crore) in the corresponding quarter last year.
- Year-to-Date (9M FY2026) Net Profit: Resulted in a loss of (₹94.92 crore).
Corporate Restructuring Approved
The Board also approved the Merger of two wholly-owned subsidiaries: IBID Home Private Limited (Transferor Company) and Purva Woodworks Private Limited (Transferee Company). The rationale includes salvaging and optimizing the investment in IBID (which operates the digital platform WATABID.COM) by integrating its digital assets into the active operating company, thereby expanding Woodworks’ market reach.
Other Procedural Approvals
The necessary documentation, including the Postal Ballot Notice and Explanatory Statement under the Companies Act, 2013, related to the MD re-appointment and merger scheme, was also approved.
Source: BSE
