PURVA2024-07-012024-09-30 PURVA2024-07-012024-09-30 PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses01Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses02Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses03Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses04Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses05Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses06Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses07Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses08Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses09Member PURVA2024-07-012024-09-30in-bse-fin:OneOperatingExpenses10Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses01Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses02Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses03Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses04Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses05Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses06Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses07Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses08Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses09Member PURVA2024-07-012024-09-30in-bse-fin:FourOperatingExpenses10Member PURVA2024-09-30 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 532891 PURVA NOTLISTED Puravankara Limited Equity 2024-04-01 2025-03-31 2024-11-08 2024-10-29 INR Crores Half yearly 14:30:00 16:20:00 2024-11-08 2024-11-08 true Cash Flow Indirect Not applicable Single segment Construction and Development 2024-07-01 2024-09-30 Unaudited Consolidated 4955400000.00 241400000.00 5196800000.00 4462700000.00 0.00 -2411400000.00 744700000.00 1407800000.00 80000000.00 1039500000.00 5323300000.00 -126500000.00 0.00 -126500000.00 171400000.00 -48600000.00 122800000.00 0.00 -249300000.00 0.00 0.00 0.00 78700000.00 -170600000.00 -28200000.00 -198800000.00 -167800000.00 -2800000.00 -196000000.00 -2800000.00 1185800000.00 5 -0.71 -0.70 0.00 0.00 -0.71 -0.70 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 08.11.2024. The statutory auditors of the Company have carried out a limited review report on the above consolidated financial results of the Company for the quarter and six months ended 30.09.2024. During the six months ended 30.09.2024, the following wholly-owned subsidiaries of the Company have issued debentures of Rs.100,000 each, aggregating to Rs.475 crores by way of private placement, which are listed on BSE Limited ('BSE') : (i) Grand Hills Developers Private Limited, wholly-owned subsidiary of the Company 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 wholly-owned subsidiary of the Company 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. 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. The Group is subject to legal proceedings for obtaining clear and marketable tittle for certain properties wherein the Group has outstanding deposits and advances of Rs.53.20 crore (March 31, 2024: Rs. 96.00 crore). Further, the Group has Rs.71.00 crore (March 31, 2024: Rs. 20.00 crore) recoverable from parties, claims from minority shareholders of a subsidiary of Rs.35.00 crore (March 31, 2024: Rs. 35.00 crore), claims from government authorities of Rs.5.50 crore (March 31, 2024: Rs. 5.50 crore) and inventories related to launched project of Rs.72.60 crore (March 31, 2024: Rs. Nil) under land acquisition proceedings by government authorities, which are subject to ongoing legal proceedings. Further, in relation to certain property previously owned by the Group, an individual has initiated legal proceedings claiming title over such property, which is disputed by the Group. Pending resolution of the aforesaid legal proceedings, no provision has been made towards any claims and the underlying receivable, deposits and advances are classified as good and recoverable in the accompanying financial results based on the legal evaluation by the management of the ultimate outcome of the legal proceedings. 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 communications received from the Income tax authorities by the Company, requisite information has been provided to the authorities. As on the date of the financial statements, the Company, such group companies and its promoters have not received any demand or show cause notice from the authorities pursuant to such search proceedings. The Company’s management has confirmed that the Group has complied with the requirements of the Act and does not expect any further liability on final assessment of the aforesaid matter. The Group had initiated legal proceedings against its customers and vendor for recovery of receivables of Rs. 52.81 crore (March 31, 2024: Rs. 27.71 crore), inventories of Rs.6.79 crore (March 31, 2024: Rs. 0.84 crore), vendor advance of Rs.1.94 crore (March 31, 2024: Rs. 1.94 crore) and customer’s counter claim thereon. Single segment 2024-04-01 2024-09-30 Unaudited Consolidated 11538700000.00 413600000.00 11952300000.00 15224000000.00 0.00 -9792800000.00 1442300000.00 2598400000.00 154900000.00 2240600000.00 11867400000.00 84900000.00 0.00 84900000.00 243400000.00 -53200000.00 190200000.00 0.00 -105300000.00 0.00 0.00 0.00 82500000.00 -22800000.00 -25100000.00 -47900000.00 -16500000.00 -6300000.00 -41600000.00 -6300000.00 1185800000.00 5 -0.07 -0.07 0.00 0.00 -0.07 -0.07 Advertising and sales promotion 289700000.00 Brokerage 55900000.00 Communication costs 12900000.00 Legal and professional 294000000.00 Others 81000000.00 Political party donation 0.00 Rent rates and taxes 143800000.00 Repairs and maintenance 99700000.00 Security 28700000.00 Travel and conveyance 33800000.00 Advertising and sales promotion 514000000.00 Brokerage 207300000.00 Communication costs 21900000.00 Legal and professional 601800000.00 Others 126900000.00 Political party donation 20500000.00 Rent rates and taxes 425000000.00 Repairs and maintenance 199100000.00 Security 57000000.00 Travel and conveyance 67100000.00 -48000000.00 1534900000.00 1900000.00 105100000.00 0.00 60900000.00 0.00 0.00 0.00 366200000.00 0.00 1155900000.00 4717700000.00 6239800000.00 2739300000.00 4516600000.00 15198500000.00 94069500000.00 0.00 4632500000.00 8922800000.00 471700000.00 0.00 1116700000.00 15143700000.00 4749300000.00 113962500000.00 0.00 0.00 129161000000.00 1185800000.00 17650300000.00 18836100000.00 18788100000.00 4268500000.00 0.00 3200000.00 4271700000.00 142500000.00 0.00 0.00 285900000.00 4700100000.00 35531200000.00 5537200000.00 310300000.00 41378700000.00 63317000000.00 711400000.00 265700000.00 105672800000.00 0.00 0.00 110372900000.00 129161000000.00 Pending resolution of the aforesaid litigations, no provision has been made towards the resulting impact of customer’s counter-claims and the underlying receivables and other assets are classified as good and recoverable in the accompanying financial results based on the legal opinion obtained by the management and the management’s evaluation of the ultimate outcome of the litigation. The unaudited standalone financial results for the quarter and six months ended 30.09.2024 can be viewed on the Company website http://www.puravankara.com and also be viewed on the website of NSE and BSE. A wholly-owned subsidiary (WOS) is carrying unbilled revenue as at September 30, 2024 and having regard to the WOS’s ongoing discussions with its customers towards the construction work, the WOS is confident of billing the same in the ensuing quarters. Further, the WOS has also initiated proceedings with its customer for extension of certain projects' completion timeline and waiver of liquidated damages thereon amounting to Rs.23 crores. The Management is of the view that no provision is required towards the consequential impact of such delays in the accompanying financial results based on the terms of the customer contracts, ongoing discussions with the customers. The WOS will continue to closely observe the evolving scenario and take into account any future developments arising out of the same. 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. 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 quarter and six month ended September 30, 2024 is higher by Rs. 12 crores. 2598400000.00 -9419500000.00 287800000.00 0.00 -2522400000.00 0.00 0.00 -184300000.00 0.00 9000000.00 0.00 4808900000.00 0.00 154900000.00 0.00 68900000.00 551400000.00 -112300000.00 0.00 0.00 0.00 0.00 46200000.00 0.00 0.00 -1800000.00 0.00 -109300000.00 0.00 -3824100000.00 -3739200000.00 0.00 0.00 -177800000.00 162900000.00 0.00 -4079900000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4900000.00 165200000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 500000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 179700000.00 0.00 -270700000.00 0.00 -251800000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 20993900000.00 14680400000.00 0.00 71400000.00 0.00 2285000000.00 0.00 -105400000.00 3851700000.00 -480000000.00 0.00 -480000000.00 8515800000.00 8035800000.00 -37600000.00 -33500000.00 -9400000.00 -8400000.00