Puravankara Limited has completed the sale of its entire 100% stake in Purva Ruby Properties Private Limited to Prishal Office Parks III Private Limited for an estimated consideration of ₹145 crore. The transaction, finalized on July 06, 2026, involves the company's wholly-owned subsidiary and is not classified as a related party transaction. The buyer is a company owned by ICICI Prudential Office Yield Optimiser Fund – AIF II, a category II Alternative Investment Fund managed by ICICI Prudential Asset Management Company Limited.

The Share Purchase Agreement (SPA) was signed on June 30, 2026, with the completion of connected documents occurring on July 06, 2026. The sale was executed outside a Scheme of Arrangement, and shareholder approval was not required as Purva Ruby Properties Private Limited does not qualify as an undertaking under Section 180(1)(a) of the Companies Act 2013. The company confirmed compliance with Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial disclosures regarding the subsidiary indicate that Purva Ruby Properties Private Limited recorded a turnover of ₹25,38,89,035 during the last financial year. This represented a 1.06% contribution to the total turnover of Puravankara Limited, which stood at ₹2399,01,37,354. The net worth of the subsidiary was reported as negative, resulting in no contribution to the parent company's net worth.

Transaction Details

The interim update was submitted to the stock exchanges in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sudip Chatterjee, Company Secretary & Compliance Officer of Puravankara Limited, signed the disclosure.

Puravankara Ltd has appointed Mr. Amit Narain Ahuja as its Chief Risk Officer, designated as a Senior Managerial Personnel (SMP), effective May 18, 2026. The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee during a meeting held on the same date. This move strengthens the company's leadership structure with a focus on risk management and control functions.

The appointment follows a revised intimation submitted to the exchanges, correcting an earlier filing that had inadvertently stated the effective date as May 04, 2026. The company clarified that while the offer letter was issued on May 04, the actual approval by the Board and the committee occurred on May 18, 2026. The disclosure was made in compliance with Regulation 30 and 33 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Amit Narain Ahuja brings over 26 years of distinguished leadership experience to the role. He is a Chartered Accountant and a Certified Sarbanes-Oxley Expert. Throughout his career, he has built and led risk and control functions across India, Asia, and international markets, working with prestigious institutions such as Wells Fargo, JP Morgan Chase, KPMG, Deloitte, and Ernst & Young.

The Board meeting also addressed other regulatory matters, including the re-appointment of M/s. GNV & Associates as the Cost Auditor for the financial year 2026-27, subject to shareholder ratification. The meeting commenced at 03:30 P.M. IST and concluded at 07:00 P.M. IST.

Key Appointment Details