Puravankara Limited’s Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025. Key decisions included the re-appointment of Mr. Ashish Ravi Puravankara as Managing Director for 5 years starting April 1, 2026, and the approval of a merger between two wholly-owned subsidiaries. The standalone results showed a net profit of ₹63.79 crore for Q3 FY2026.
Board Meeting Outcomes: February 12, 2026
The Board of Directors of Puravankara Limited convened on Thursday, February 12, 2026, to review and approve several significant corporate actions and financial outcomes for the period ending December 31, 2025.
Financial Performance (Standalone – Q3 FY2026)
The Board approved the Draft Un-audited Standalone Financial Results, which were subject to a Limited Review. Key figures for the quarter ended December 31, 2025, include:
- Total Income: ₹760.15 crore
- Net Profit for the period: ₹63.79 crore (compared to a loss of ₹36.21 crore in the preceding quarter).
- Earnings Per Share (Basic): ₹2.69
The detailed financial statements, including comparative figures for the preceding quarter and the same quarter last year, are attached to the disclosure.
Key Corporate Approvals
1. Re-appointment of Managing Director
The Board approved the re-appointment of Mr. Ashish Ravi Puravankara (DIN: 00504524) as Managing Director. The reappointment is for a period of 5 years, commencing from April 01, 2026, until March 31, 2031, pending shareholder approval via Postal Ballot.
Mr. Puravankara’s profile highlights his role in overseeing the entire business, driving growth, launching Provident Housing, and his recognition in the industry, including receiving the Grohe Hurun India Residential Real Estate Developer Award 2023.
2. Merger of Wholly Owned Subsidiaries
The merger of two wholly-owned subsidiaries was approved under Sections 230 and 232 of the Companies Act, 2013:
- Transferor Company: IBID Home Private Limited
- Transferee Company: Purva Woodworks Private Limited
The rationale centers on optimizing the investment in IBID by integrating its digital assets (under the WATABID.COM brand) into the operating company, thereby expanding market reach and strengthening competitiveness through digital enablement. The transaction is not considered a related party transaction conducted at ‘arm’s length’ and involves no cash consideration.
3. Postal Ballot Notice
The Board also approved the necessary notice and explanatory statement for a Postal Ballot to seek shareholder approval for various matters, as required under relevant provisions of the Companies Act, 2013.
Auditor’s Review Report Highlights
The Independent Auditors, S.R. Batliboi & Associates LLP, issued a review report for both standalone and consolidated results. For the standalone results, the auditors noted an Emphasis of Matter regarding ongoing legal proceedings related to property and tax matters, emphasizing that their conclusion is not modified in respect of this item.
The consolidated results reflect the inclusion of 31 subsidiaries and 2 associates, with the overall conclusion being based substantially on the review reports furnished by other auditors for these entities.
Source: BSE
