Puravankara profit jumps as operating margin narrows 10.48 points
Revenue grew +21.65% QoQ, but expenses grew +38.05%; other income was 178.43% of pre-tax profit.
Filed 02 Nov 2026, 20:15 IST · after market close · Puravankara Ltd (PURVA)
Key takeaways
- Consolidated net profit rose +231.91% QoQ to Rs 83.74 cr, but other income equalled 178.43% of pre-tax profit.
- Operating margin narrowed 10.48 percentage points QoQ as expenses grew +38.05%, faster than revenue at +21.65%.
- At 11.75%, operating margin was 0.99 percentage points below the 12.74% median for 153 reported Consumer Discretionary peers.
Price around the results
Profit growth was led by other income
Puravankara's consolidated net profit rose +231.91% QoQ, while profit before tax increased +260.68% to Rs 93.85 cr. Other income of Rs 167.46 cr equalled 178.43% of pre-tax profit, making reported earnings materially reliant on non-operating income. The tax rate also rose 7.73 percentage points to 10.77%.
Costs weakened operating conversion
Revenue grew +21.65% QoQ, but expenses grew +38.05%, causing operating profit to fall -35.71%. Operating margin narrowed from 22.23% to 11.75%, a decline of 10.48 percentage points, while interest rose +0.83% and depreciation rose +19.80%. The margin was 0.99 percentage points below the 12.74% median among 153 reported Consumer Discretionary peers.
Revenue momentum came with a margin decline
The quarter showed sequential revenue growth but weaker operating profitability, with Q2FY27 operating margin at 11.75% versus 22.23% in Q1FY27. Net profit still increased because the rise in other income more than offset the operating profit decline. The results were filed after market close on 2 November 2026.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹1,033 cr | ₹849 cr | +21.65% |
| Other income | ₹167 cr | ₹28 cr | +489.86% |
| Expenses | ₹911 cr | ₹660 cr | +38.05% |
| Operating profit | ₹121 cr | ₹189 cr | -35.71% |
| Operating margin (%) | 11.75% | 22.23% | — |
| Interest | ₹180 cr | ₹179 cr | +0.83% |
| Depreciation | ₹14 cr | ₹12 cr | +19.80% |
| Profit before tax | ₹94 cr | ₹26 cr | +260.68% |
| Tax | ₹10 cr | ₹1 cr | +1179.75% |
| Net profit | ₹84 cr | ₹25 cr | +231.91% |
| EPS (₹) | ₹3.42 | ₹1.22 | +180.33% |
Operating margin of 11.75% compares with a Consumer Discretionary sector median of 12.74% across 153 peers that have reported Q2FY27.
What to watch
- Whether operating margin recovers from 11.75% after the 10.48-percentage-point sequential decline.
- Whether expense growth moderates from +38.05% relative to revenue growth of +21.65%.
- Whether other income remains a large contributor against the Q2FY27 share of 178.43% of pre-tax profit.