Puravankara Board Re-appoints Ashish Ravi Puravankara as MD for 5 Years
Board Approves Managing Director Re-appointment
Puravankara's Board approved the re-appointment of Ashish Ravi Puravankara as Managing Director for a five-year term starting April 1, 2026, extending through March 31, 2031. The re-appointment is pending shareholder approval via Postal Ballot.
The Board's recommendation came from its February 12, 2026 meeting, and shareholders subsequently approved the resolution with overwhelming support: 99.53% in favor of the re-appointment. Additionally, the overall remuneration limit for the MD was enhanced for three years, effective April 1, 2026, approved by shareholders at 99.89% in favor.
Puravankara's Growth Under Ashish Ravi Puravankara
Ashish Ravi Puravankara oversees the entire business, primarily identifying growth opportunities for Puravankara Limited. Under his leadership, the company has expanded its residential and commercial projects across nine major Indian cities, including Bengaluru, Mumbai, and Pune.
His strategic foresight led to the successful launch of Provident Housing, a large-scale community developer, and Purva Land, the plotted development arm. Mr. Puravankara's role includes driving growth and launching these ventures, and he was recognized with the Grohe Hurun India Residential Real Estate Developer Award 2023.
Company Context: Five Decades of Operations
Founded by Ravi Puravankara in 1975, the company evolved from a regional developer in Bengaluru to a national player with a focus on organized housing, branded developments and joint-venture land acquisitions. Leadership has combined promoter vision with professional management—Ravi Puravankara serves as Chairman and Ashish Puravankara as Managing Director, with Nani R Choksey as Vice-Chairman supporting governance.
To date, Puravankara has delivered 86 projects covering 50 million sq ft with another 31 million sq ft under development across over 23,000 homes. More recently, on March 25, 2026, Puravankara announced plans to unveil 30 projects over the next 24 months, primarily across South India and Mumbai, with an estimated Gross Development Value of over Rs 55,000 crores.
Q3 FY2026 Financial Results
The Board's February 12 meeting also approved financial results for the quarter. Total Income rose to ₹760.15 crore in Q3 FY2026 from ₹201.99 crore in the corresponding quarter last year, and the company recorded a net profit of ₹63.79 crore in Q3 FY2026, compared to a loss of ₹82.49 crore in Q3 FY2025.
Subsidiary Restructuring Approved
The Board also approved corporate restructuring alongside the MD re-appointment. Key decisions included the merger of two wholly-owned subsidiaries: IBID Home Private Limited and Purva Woodworks Private Limited. The merger is aimed at optimizing investments and integrating digital assets to enhance market reach.