Puravankara Limited has informed stock exchanges about receiving income tax demand notices totaling Rs 51.87 crores for assessment years 2016-17 and 2017-18. The real estate developer disclosed this development under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Income Tax Demand Details

The company received demand notices under Section 156 of the Income Tax Act from the Deputy Commissioner of Income Tax, Central Circle -1(2), Bengaluru. The notices were received on March 31, 2026, following assessment orders under Section 147 read with Section 143(3).

Nature of Tax Disputes

For assessment year 2016-17, the demand of Rs 39.34 crores arose due to disallowance of certain expenses and certain additions on notional basis. The assessment year 2017-18 demand of Rs 12.53 crores resulted from disallowance of certain expenses and denial of indexation for the cost of acquisition of shares.

Company's Response Strategy

Puravankara Limited has outlined its response to the income tax demands:

• The company is in the process of filing an appeal before the Commissioner of Income Tax (Appeals) against the said orders within prescribed timelines
• Management believes it has strong legal and factual grounds to support its case
• The company is assessing the implications of these orders on its financial statements
• There is no impact on operations or other activities

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 read with Schedule III of SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30, 2026. Company Secretary and Compliance Officer Sudip Chatterjee signed the intimation letter dated April 1, 2026.

The company has informed both BSE Limited and National Stock Exchange of India Limited about these developments as part of its ongoing disclosure obligations to keep investors informed about material events.

Puravankara Limited has officially announced its ambitious expansion strategy through a comprehensive press release filed under Regulation 30 of SEBI regulations. The real estate developer unveiled plans to launch 30 new projects across South India and Mumbai over the next 24 months, representing one of the most significant expansion initiatives in the company's five-decade history.

Project Portfolio and Financial Targets

The company's latest development pipeline encompasses substantial scale and geographic diversity. According to the official announcement made on March 25, 2026, the comprehensive project portfolio demonstrates Puravankara's confidence in key metropolitan markets.

Financial Performance and Market Position

Puravankara's expansion comes on the back of strong operational performance. The company has demonstrated sustained market momentum with robust pre-sales and collection figures for the current financial year.

Economic Impact and Employment Generation

The ambitious project pipeline is expected to create significant economic impact beyond real estate development. According to company estimates, the development program will generate substantial employment opportunities and support various ancillary industries.

Environmental Sustainability Commitment

Alongside its business expansion, Puravankara has reinforced its environmental sustainability initiatives. The company continues its commitment to the World Economic Forum's 1t.Org Initiative with specific targets and upcoming environmental activities.

Managing Director Ashish Puravankara emphasized the company's foundation of trust, transparency, and delivery excellence built over five decades. CEO-South Mallanna Sasalu highlighted the company's focus on creating integrated communities that respond to evolving customer needs while contributing meaningfully to urban growth and supporting a wide ecosystem of industries.