desk
Share
News Topical, Digital Desk : Realty company Puravankara has released its second quarter results. Despite a sharp increase in revenue, the company has also reported an increase in losses. The increase in losses is due to a sharp rise in expenses, especially subcontractor costs. The company's revenue increased by 30 percent year-on-year. However, expenses increased by more than 34 percent. Of this, subcontractor costs doubled compared to last year. On Friday, the stock closed at 256, down more than one percent.
The company reported a net loss of Rs 41.79 crore in the second quarter of FY26 (Q2 FY26), higher than the loss of Rs 16.78 crore in the same period last year. Revenue grew by 29.9% to Rs 644.4 crore from Rs 496 crore in the previous year. Total expenses increased from Rs 532 crore to Rs 719 crore. The company's EBITDA declined by 7.3% to Rs 104.47 crore from Rs 112.67 crore in the previous year. EBITDA margin declined to 16.2% from 22.7% in the previous year.
How was the business performance? The company recorded sales of ₹1,322 crore in Q2 FY26, a 4% year-on-year increase. Sales were spread across a total area of 1.5 million square feet. Average sales realization increased by 7% to ₹8,814 per square foot. Customer collections increased by 8% to ₹1,047 crore. (Disclaimer: The advice or opinions expressed on CNBC TV18 Hindi/CNBC Awaaz are the personal views of the experts and brokerage firms; the website or management is not responsible for them. Please consult your financial advisor or certified expert before investing.)
--Advertisement--
