The project pipeline covers approximately 51.14 million sq ft, with a projected gross development value exceeding ₹55,000 crore.
The company has recorded pre-sales of ₹3,859 crore and customer collections of ₹3,045 crore in 9MFY26. Its presence now extends to critical markets including Bengaluru, Hyderabad, Chennai, Mumbai, and Pune, connecting it to both end-user and investor-driven markets.
In a conversation with CNBC-TV18, Managing Director Ashish Ravi Puravankara mentioned that demand patterns have remained consistent in the March quarter, bolstered by positive responses to recent launches.
Edited excerpts:
Q: How are demand trends evolving in Q4 compared to earlier quarters?
A: Q4 has shown stability in both ongoing and new launches. We introduced two projects in the South, both performing excellently. A launch in Lokhandwala in the West also surpassed our expectations. Overall, it’s been a favorable quarter thus far.
Q: What is your forecast for pre-sales growth in FY27?
A: Annual sales rely on sustainability and new introductions. Sustainability is expected to persist. Any disruption from the Middle East situation, if it occurs, should be temporary, lasting only two to three months. Considering our four-year execution cycle, short-term fluctuations tend to stabilize. With our robust launch pipeline, we see ourselves at an inflection point and anticipate significant annual sales growth over the coming two years.
Q: Will increasing input costs be transferred to consumers if geopolitical tensions continue?
A: Rising energy prices impact all sectors, but the effects vary based on duration. Our construction timeline is four years, so any commodity price increase over a short period affects just a part of the total cost. The impact also correlates with the construction phase. Early-stage projects are less vulnerable to high-cost finishing materials. We are monitoring the situation carefully, and any necessary price adjustments will be minimal and only applied to unsold inventory.
Q: Is the luxury housing segment more exposed to rising costs?
A: Not necessarily. The luxury and ultra-luxury segments offer better pricing flexibility. In contrast, affordable housing, with tighter margins, is more sensitive to cost increases.
Q: What is the margin outlook moving forward?
A: Margins are expected to remain consistent. A 5-8% increase in input costs translates to only about a 2-2.5% impact on selling prices, and that too over a limited timeframe. Given the distribution of costs throughout the project lifecycle, the overall effect is manageable.
Q: Are there plans to expand beyond your current markets?
A: We are assessing opportunities for entry into NCR and have begun exploring prospects there. However, in the next three to six months, our primary focus will be on executing our existing launch pipeline.
Q: How is your commercial portfolio performing?
A: We have roughly 2.2 million sq ft nearing completion, expected to be ready in the coming months, with leasing discussions already in progress. An additional 2 million sq ft is under development, primarily in North Bengaluru, which is emerging as a significant commercial center due to enhanced infrastructure and ecosystem advancements.
Q: What does your project pipeline look like for FY27?
A: Our immediate goal is to launch these 30 projects, most of which are in advanced stages of approval. About 24 are located in the South, while the remainder is in western regions. We anticipate timely execution and a robust growth trajectory ahead.
Q: How has Q4 performance been overall?
A: This quarter has been promising, driven by contributions from both ongoing sales and new launches. With projects approaching approvals, we do not expect significant delays, and we foresee continued growth momentum.
