Integrated Filing — IndAS



General information about company
Scrip Code 532891
NSE Symbol PURVA
MSEI Symbol NOTLISTED
ISIN INE323I01011
Name of company PURAVANKARA LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 23-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Construction and Development
Start date and time of board meeting 30-May-2025   14:30:00
End date and time of board meeting 30-May-2025   15:45:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 5415700000 20136100000
Other income 221300000 795200000
Total income 5637000000 20931300000
2 Expenses
(a) Cost of materials consumed 849200000 3245100000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -4303000000 -19421700000
(d) Employee benefit expense 752000000 2974000000
(e) Finance costs 1521500000 5547800000
(f) Depreciation, depletion and amortisation expense 111900000 349600000
(f) Other Expenses
1 Advertising and sales promotion 528500000 1400600000
2 Brokerage and referral 93500000 379800000
3 Legal and professional 445500000 1461900000
4 Rates and taxes 213200000 754300000
5 Others 370700000 1257200000
6 Sub-contract cost 4243300000 12608100000
7 Land purchase cost 1918300000 8633300000
8 Purchase of stock of flats 0 3934300000
Total other expenses 7813000000 30429500000
Total expenses 6744600000 23124300000
3 Total profit before exceptional items and tax -1107600000 -2193000000
4 Exceptional items 0 7500000
5 Total profit before tax -1107600000 -2185500000
6 Tax expense
7 Current tax -182000000 39300000
8 Deferred tax -46100000 -333400000
9 Total tax expenses -228100000 -294100000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations -879500000 -1891400000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method -500000 62200000
16 Total profit (loss) for period -880000000 -1829200000
17 Other comprehensive income net of taxes 3200000 -32800000
18 Total Comprehensive Income for the period -876800000 -1862000000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0 0
Total profit or loss, attributable to non-controlling interests 0 0
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 0 0
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0 0
21 Details of equity share capital
Paid-up equity share capital 1185800000 1185800000
Face value of equity share capital 5 5
27 Details of debt securities
22 Reserves excluding revaluation reserve 16123200000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -3.62 -7.59
Diluted earnings (loss) per share from continuing operations -3.61 -7.52
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 -7.59
Diluted earnings (loss) per share from discontinued operations 0 -7.52
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -3.62 -15.18
Diluted earnings (loss) per share from continuing and discontinued operations -3.61 -15.04
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results
Textual Information(1) The above consolidated financial results of Puravankara Limited ('the Company' or 'the Holding Company') have been reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 30.05.2025. The statutory auditors of the Company have audited the consolidated financial results of the Company for the quarter and year ended 31.03.2025During the year ended 31.03.2025, the following wholly-owned subsidiaries of the Group have issued debentures of Rs.100,000 each, aggregating to Rs.494 crores by way of private placement, which are listed on BSE Limited ('BSE') : (i) Grand Hills Developers Private Limited has issued 25,500 listed, secured, rated, redeemable, non-convertible debentures aggregating to Rs. 255 crores. These debentures are listed on BSE on July 02, 2024. (ii) Purva Oak Private Limited has issued 22,000 listed, secured, rated, redeemable, non-convertible debentures aggregating to Rs. 220 crores. These debentures are listed on BSE on July 23, 2024. (iii) Varishtha Property Developers Private Limited has issued 1,900 listed, unsecured, rated, redeemable, non-convertible debentures aggregating to Rs. 19 crore. These debentures are listed on BSE on November 19, 2024. The Group’s business activity falls within a single reportable segment, i.e., real estate development and related activity. Hence, there are no additional disclosures to be provided under Ind-AS 108 – Operating Segments with respect to the single reportable segment. Further, the Group is domiciled in India and does not have significant foreign operations. Certain entities in the Group are subject to ongoing legal proceedings in respect of the following matters as summarised below. (i) Deposits and advances of Rs.61.80 crore (March 31, 2024: Rs. 96.00 crore) towards joint development arrangements and land acquisitions which are subject to legal proceedings related to obtaining clear and marketable tittle for underlying properties. (ii) Claims from minority shareholders of a subsidiary of Rs.35.00 crore (March 31, 2024: Rs. 35.00 crore) towards adherence to project development terms. (iii) Inventories related to launched project of Rs.78.30 crore (March 31, 2024: Rs. Nil) under land acquisition proceedings by government authorities. (iv) Receivables from customers of Rs.59.60 crore (March 31, 2024: Rs. 28.50 crore) and other balances of Rs.75.70 crore (March 31, 2024: Rs. 28.50 crore) recoverable from joint development partners and other parties which are subject to litigations. Pending resolution of the aforesaid legal proceedings, no provision has been made towards aforesaid claims and the deposits, advances, inventory, receivables and other balances referred above are classified as good and recoverable in the accompanying consolidated financial results based on the legal evaluation by the management of the ultimate outcome of the legal proceedings. b) A search under section 132 of the Income Tax Act (‘the Act’) was conducted in October 2023 in case of the Company, certain group companies and its promoters. Pursuant to the proceedings of the Income tax authorities (‘the authorities’), requisite information was provided by the Group to the authorities. During the quarter ended March 31, 2025, the Company and such group companies have received assessment orders from the authorities disallowing certain expenses on the grounds that the same are not incurred for the purpose of business, with potential tax impact of Rs.0.81 crore, Rs.3.50 crore, Rs.3.19 crore and Rs.11.53 crore for AY 2019-20, AY 2020-21, AY 2022-23 and AY 2023-24, respectively. The Group is of the view that these expenses have been incurred in the ordinary course of business towards its ongoing real estate development projects. The Group has filed appeal against such assessment orders and is reasonably confident of providing necessary supporting evidences to the authorities in support of allowance of such expenses. Pending resolution of the aforesaid legal proceedings, no provision has been made towards the consequential impact arising from such assessment orders in the accompanying consolidated financial results, based on the legal evaluation by the management of the ultimate outcome of the legal proceedings. The Taxation Laws (Amendment) Ordinance, 2019 ('the Ordinance’) provides an option to domestic companies to pay income-tax at a lower rate of 25.17%, if it opts for not availing of certain specified exemptions or incentives. In October 2024, a subsidiary of the Group has made an assessment of the impact of the Ordinance and has decided to opt for the lower tax rate of 25.17% from the financial year beginning April 01, 2023. Consequently, the subsidiary has measured the current and deferred taxes from the normal rate of 34.94% to the lower rate of 25.17% and the tax expense for the year ended March 31, 2025 is higher by Rs. 12 crore. During the quarter ended December 31, 2024, the Company has acquired an additional stake of 36.26% in an existing joint venture entity - Pune Projects LLP ('PPL') from another partner for a consideration of Rs.35.00 crore. Pursuant to the said acquisition, the Company holds 68.26% share and control thereon in PPL, thereby PPL has become a subsidiary of the Company from December 31, 2024 and the Company has remeasured its previously held equity interest in PPL at its acquisition-date fair value and recognised the resulting gain of Rs.34.08 crore and the same has been disclosed under Exceptional items. Further, the partners of PPL have agreed to revise their profit sharing ratio, which has resulted in recognition of additional share of loss of Rs.33.33 crore by the Company and the same has been disclosed under Exceptional itemsDuring the quarter ended March 31, 2025, the Company has acquired an additional stake of 39.54% in an existing associate entity - Sobha Puravankara Aviation Private Limited ('SPAPL') from another shareholders for a consideration of Rs.0.04 crore. Pursuant to the said acquisition, the Company holds 89.49% shareholding and control thereon in SPAPL, thereby SPAPL has become a subsidiary of the Company. During the quarter ended March 31, 2025, a Wholly Owned Subsidiary of the Company has acquired 51% voting right and control thereon in NBD Office Parks LLP for a consideration of Rs. 2.96 crore thereby NBD Office Parks LLP has become a subsidiary of the Group. During the quarter ended March 31, 2025, PURVACOM, a partnership entity in which the Company held 99.99% stake has been dissolved. The figures for the quarter ended 31.03.2025 and corresponding quarter ended 31.03.2024 are the balancing figures between audited figures in respect of the full financial year ended 31.03.2025 and '31.03.2024, respectively and the unaudited published year-to-date figures in respect of nine months ended 31.12.2024 and 31.12.2023, respectively, being the date of the end of the third quarter of the respective financial year which were subjected to limited review



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 2182700000
Capital work-in-progress 1000000
Investment property 104300000
Goodwill 0
Other intangible assets 29900000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 397200000
Trade receivables, non-current 0
Loans, non-current 0
Other non-current financial assets 5046400000
Total non-current financial assets 5443600000
Deferred tax assets (net) 2973300000
Other non-current assets 1698900000
Total non-current assets 12433700000
2 Current assets
Inventories 106754700000
Current financial asset
Current investments 0
Trade receivables, current 4618400000
Cash and cash equivalents 6961900000
Bank balance other than cash and cash equivalents 355400000
Loans, current 0
Other current financial assets 1926600000
Total current financial assets 13862300000
Current tax assets (net) 813700000
Other current assets 8586900000
Total current assets 130017600000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 142451300000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1185800000
Other equity 16172800000
Total equity attributable to owners of parent 17358600000
Non controlling interest
Total equity 17358600000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 1161800000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 268400000
Total non-current financial liabilities 1430200000
Provisions, non-current 151100000
Deferred tax liabilities (net) 134100000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 1715400000
Current liabilities
Current financial liabilities
Borrowings, current 41805000000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 364200000
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 6454100000
Total Trade payable 6818300000
Other current financial liabilities 398700000
Total current financial liabilities 49022000000
Other current liabilities 73673700000
Provisions, current 617700000
Current tax liabilities (Net) 63900000
Deferred government grants, Current 0
Total current liabilities 123377300000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 125092700000
Total equity and liabilites 142451300000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement gains/(losses) on defined benefit plans 4400000 -43700000
Total Amount of items that will not be reclassified to profit and loss 4400000 -43700000
2 Income tax relating to items that will not be reclassified to profit or loss 1200000 -10900000
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income 3200000 -32800000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax -2185500000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 5547800000
Adjustments for decrease (increase) in inventories -19355700000
Adjustments for decrease (increase) in trade receivables, current 612500000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -2894200000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current -699100000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 190100000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 12909200000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 349600000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 456100000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 1400000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 0
Adjustments for share-based payments 44200000
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 289900000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -2548200000
Net cash flows from (used in) operations -4733700000
Dividends received 0
Interest paid 0
Interest received -251700000
Income taxes paid (refund) 322200000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -5307600000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 258600000
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 25000000
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 9000000
Proceeds from sales of property, plant and equipment 21900000
Purchase of property, plant and equipment 430000000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 1400000
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 252800000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -287100000
Net cash flows from (used in) investing activities -736400000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 0
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 38343500000
Repayments of borrowings 29617100000
Payments of lease liabilities 143100000
Dividends paid 0
Interest paid 5048600000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 400000
Net cash flows from (used in) financing activities 3535100000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -2508900000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -2508900000
Cash and cash equivalents cash flow statement at beginning of period 8515800000
Cash and cash equivalents cash flow statement at end of period 6006900000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S.R. Batliboi & Associates LLP Yes 31-Jul-2027