Puravankara Limited has successfully completed the allotment of its third tranche of non-convertible debentures (NCDs), raising ₹150 crores through private placement on February 13, 2026. This development represents a significant milestone in the company's ongoing fund-raising initiative, which was initially approved by the board in May 2025.

NCD Allotment Details

The Management Sub-Committee of the Board approved the allotment through a Circular Resolution dated February 13, 2026. The company has issued 1,500 NCDs to identified investors under this third tranche.

Fund Raising Program Overview

This allotment forms part of Puravankara's broader fund-raising strategy approved on May 16, 2025. The overall program allows the company to raise funds through NCD issuance on a private placement basis.

Instrument Characteristics

The NCDs carry specific features designed for private placement investors. These debentures are structured as senior, secured instruments with a defined maturity period.

Key Features:

• Tenure: 60 months from the deemed date of first allotment (June 20, 2025)
• Security: Secured against company assets
• Redemption: Redeemable at maturity
• Convertibility: Non-convertible
• Listing: Will not be listed on any stock exchange

Regulatory Compliance

The allotment has been conducted in full compliance with regulatory requirements. Puravankara has made the necessary disclosures under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The company has informed both BSE Limited (Stock Code: 532891) and National Stock Exchange of India Limited (Stock Code: PURVA) about this development, ensuring transparency and adherence to listing obligations. Company Secretary and Compliance Officer Sudip Chatterjee has signed the regulatory filings, confirming the completion of all procedural requirements.

Puravankara Limited has delivered a strong financial performance for the third quarter of FY26, marking a significant turnaround from previous quarters. The real estate developer announced its unaudited results for the quarter ended December 31, 2025, showing robust growth across key financial metrics. Following the earnings announcement, the company has now made available the complete transcript of its earnings call held on February 13, 2026.

Financial Performance Overview

The company's consolidated performance demonstrated remarkable improvement across all major parameters:

Operational Highlights

During Q3 FY26, the company recorded presales of Rs. 1,414 crore, registering 17% year-on-year growth. The company achieved its highest ever quarterly collection of Rs. 1,140 crore, representing 22% year-on-year growth. Sales volume during the quarter stood at 1.49 million square feet, while average realization improved by 12% year-on-year to Rs. 9,500 per square foot.

Earnings Call Transcript Availability

Following regulatory requirements under SEBI LODR Regulations, the company has made the complete transcript of its Q3FY26 earnings call available to investors and analysts:

Management Commentary on Launch Pipeline

During the earnings call, Managing Director Ashish Puravankara highlighted the company's robust launch pipeline. For Q4 FY26, the company plans to launch projects worth approximately Rs. 6,700 crore across Mumbai and Bengaluru markets.

Mumbai Launch Pipeline

Bengaluru Launch Pipeline

Business Development Achievements

For the nine months ended December 31, 2025, the company added 5 new projects with 12.76 million square feet of potential development area and estimated gross development value of approximately Rs. 13,900 crore:

Debt Management and Cash Flow

CFO Neeraj Gautam highlighted the company's improved financial position with net debt at Rs. 2,482 crore as of December 31, 2025, representing a net debt-to-equity ratio of 1.47x. The company maintained strong liquidity with cash and bank balance of Rs. 1,082 crore. During Q3 FY26, the company generated an operating surplus of Rs. 64 crore, with nine-month operating surplus at Rs. 755 crore.

Commercial Assets Update

The company provided updates on its commercial portfolio during the earnings call. The Zentech project has sold 127,000 square feet and leased 90,000 square feet to IKEA. Both Zentech and Aerocity projects are expected to receive occupation certificates by end of March 2026. Once fully leased, both assets are projected to generate annual rental income of approximately Rs. 200 crore.

Future Outlook

Management expressed optimism about the sector outlook, supported by strong macroeconomic fundamentals, declining interest rates, and sustained end-user demand. The company expects to maintain a launch frequency of almost one project per month between West and South regions, leveraging the substantial business development investments made over the past 24 months.