The Puravankara Board met on February 12, 2026, to approve the Unaudited Standalone and Consolidated Financial Results for Q3 FY2026, ending December 31, 2025. Key actions included the re-appointment of Mr. Ashish Ravi Puravankara as Managing Director for five years starting April 2026, and the approval of a merger between two wholly-owned subsidiaries: IBID Home Private Limited and Purva Woodworks Private Limited.
Board Meeting Outcomes: February 12, 2026
The Board of Directors of Puravankara Limited convened on Thursday, February 12, 2026, and approved several significant proposals, including the financial results and corporate restructuring initiatives.
Financial Results Review
The Board considered and approved the Draft Un-audited Standalone and Consolidated Financial Results for the quarter and nine months ended December 31, 2025, along with the related Limited Review Report (Annexure I).
- Standalone Net Profit (Loss) After Tax (NPAT) for Q3 FY2026: Rs. 63.79 crore (compared to a loss of Rs. 36.21 crore in the preceding quarter and a loss of Rs. 82.49 crore in the corresponding quarter last year).
- Standalone NPAT Year-to-Date (9M FY2026): A net loss of Rs. 40.57 crore.
- Consolidated Net Profit (Loss) After Tax (NPAT) for Q3 FY2026: A net profit of Rs. 58.34 crore (compared to a loss of Rs. 42.99 crore in the preceding quarter and a loss of Rs. 92.64 crore in the corresponding quarter last year).
- Consolidated NPAT Year-to-Date (9M FY2026): A net loss of Rs. 53.20 crore.
Key Personnel Decision
The Board approved the re-appointment of Mr. Ashish Ravi Puravankara (DIN: 00504524) as Managing Director for a period of 5 years, commencing from April 01, 2026, till March 31, 2031. This requires shareholder approval via Postal Ballot. Mr. Puravankara’s profile highlights his role in launching Provident Housing and Purva Land, and his recognition, including the Grohe Hurun India Residential Real Estate Developer Award 2023.
Subsidiary Merger Approval
The Board sanctioned the Merger of IBID Home Private Limited (Transferor Company) and Purva Woodworks Private Limited (Transferee Company), both wholly-owned subsidiaries of the Company, under Sections 230 and 232 of the Companies Act, 2013 (Annexure II).
Rationale for Merger
The primary reasons for the amalgamation are:
- To optimize the substantial investment made in IBID by integrating its digital assets (WATABID.COM) into an active operating company.
- To leverage IBID’s platform for expanding Woodworks’ market reach and customer engagement.
- To strengthen Woodworks’ competitiveness through digital enablement.
Other Regulatory Approvals
The Board also approved the draft Postal Ballot Notice along with the Explanatory Statement, pursuant to relevant sections of the Companies Act, 2013, and Listing Regulations.
Auditor Comments
The Independent Auditor’s Review Report highlighted an Emphasis of Matter regarding ongoing legal proceedings related to property, income tax search, and other matters, though the conclusion was not modified in respect of this. Furthermore, the standalone results included figures from 3 partnership entities, while consolidated results included data from 31 subsidiaries and 2 associates reviewed by other auditors.
Source: BSE
