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Puravankara Limited reported a net loss of ₹92.64 crore in Q3 FY2025, compared to a profit of ₹77.88 crore in the same period last year.The company's revenue declined by 43% to Rs 334 crore due to higher expenses, which were booked under the P&L as per Ind AS 115 accounting standards and lower handovers which further impacted revenue recognition.However customer collections increased by 6% year-on-year to ₹993 crore in Q3 FY25, while average price realization rose by 16%, with a 29% increase for Purva and 7% for Provident during the period.For the nine-month period, revenue from projects grew 16% to ₹1,529 crore for FY2025. Sales volume for the period reached 4.24 million square feet, with a sales value of ₹3,724 crore, while operating cash inflows rose 14% year-on-year to ₹3,209 crore.The company has continued its aggressive expansion in Mumbai, acquiring projects in Lokhandwala, Pali Hill, Breach Candy, and Thane, adding a potential gross development value (GDV) of over ₹9,000 crore.“In addition, owing to the highest-ever sustenance sales, the company has incurred sales and marketing expenses, which have to be booked to P&L, as per Ind AS 115 accounting standards. Occupancy certificates (OCs) and handover for four projects, with a total saleable area of 3.95 msftwith a total value of Rs 3,200+ crores, were expected in Q3FY25 and Q4FY25, which are now expected in Q4FY25 and Q1FY26. This has been on account of procedural delays, like the new e-khata policy, resulting in low handovers,” the company said.“We have recorded a 16% increase in total revenue from projects in 9MFY25, and customer collections have increased by 19%. The growth in collections is a clear reflection of our strong operational efficiency and business performance. We expect Occupancy Certificates (OCs) and completion for four projects with a total saleable area of 3.95 million sq ft during Q4FY25/Q1FY26 with a total value of Rs 3,200+ crore,” said Ashish Puravankara, Managing Director, Puravankara Limited.According to the company, despite the reported loss of ₹99 crore for 9M FY2025 under Ind AS 115, Puravankara’s profit before tax remained positive under the Percentage of Completion (PoC) method, indicating eventual profitability as projects progress. The company generated an operating cash surplus of ₹752 crore in 9MFY25 and invested ₹1,236 crore in land acquisition, adding over 7 million square feet of saleable area with a GDV potential of ₹12,000 crore.In Q3 FY2025, the company sold 1.43 million square feet, generating a sales value of ₹1,265 crore, with an average realization of ₹8,847 per square foot. For the nine-month period, total sales stood at 4.24 million square feet, with a sales value of ₹3,724 crore and an average realization of ₹8,783 per square foot.The company’s net debt stood at ₹2,824 crore, with a net debt-to-equity ratio of 1.58, while the weighted average cost of debt was 11.73% as of December 31, 2024.With a total land bank of approximately 29 million square feet and ongoing projects totaling 34 million square feet, Puravankara remains well-positioned for sustained growth. The company’s diverse residential portfolio—including Purva, Provident Housing, and Purva Land—along with its expanding commercial footprint, ensures it is set to capitalize on emerging market opportunities.The Indian real estate sector continues to witness strong demand, with 71 million square feet of office leasing in CY2024. Government initiatives, including income tax rationalization and repo rate cuts, are expected to boost disposable income and drive housing demand, particularly in the affordable and mid-segment categories.

Will US President Donald Trump's insistence on 'reciprocal tariffs' lead to the American cult bike brand Harley-Davidson's bigger play in India? The budget presented earlier in the month has already cut custom duties on imported premium bikes to make their entry cheaper.Currently down to selling one India-made X 440, co-developed with Indian partner Hero MotoCorp, and over five fully-built imported models, Harley-Davidson once sold 13 models in India with a starting price of Rs 4.69 lakh with 33 dealerships before it shut its manufacturing and sales operations in 2020 as it could not make a mark after more than a decade of presence in the country.In the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman, custom duty on motorcycle with engine capacity of 1,600 cc and above imported as completely built unit (CBU) was slashed to 30 per cent from 50 per cent earlier and for those imported as semi-knocked down (SKD) units to 20 per cent from 205 per cent, while on completely knocked down (CKD) units to 10 per cent from 15 per cent earlier.Similarly, import tariff on bikes with engine capacity not exceeding 1,600 cc in CBU form was cut to 40 per cent from 50 per cent earlier and for those imported in SKD form to 20 per cent from 25 per cent, while on CKD to 10 per cent from 15 per cent earlier.As per industry observers, the US imposes zero tariffs on most of the imported bikes although two-wheelers of engine capacity between 500cc and 800 cc attract 1.2 per cent and those above 800 cc at 2.4 per cent.According toan India-US joint statement after a discussion between Prime Minister Narendra Modi and US President Donald Trump at the White House, the leaders welcomed early steps to demonstrate mutual commitment to address bilateral trade barriers.The US "welcomed India's recent measures to lower tariffs on US products of interest in the areas of bourbon, motorcycles, ICT products and metals, as well as measures to enhance market access for US agricultural products, like alfalfa hay and duck meat, and medical devices", it said."India also expressed appreciation for US measures taken to enhance exports of Indian mangoes and pomegranates to the United States," the statement said, adding both sides also pledged to collaborate to enhance bilateral trade by increasing US exports of industrial goods to India and Indian exports of labour-intensive manufactured products to the US.Query to Harley-Davidson's Indian partner Hero MotoCorp on the possibility of expanding the brand's model lineup in India if import tariffs were reduced further remained unanswered.In 2007, the Indian government relaxed emission and testing norms for Harley-Davidson enabling it to enter the country in return for allowing mango exports to the US, by allowing the import of motorcycles up to 800 cc engine capacity or above subject to compliance to Euro III emission norms.Besides, the then government removed the need for conducting homologation checks for these bikes, which were otherwise essential to see if imported vehicles meet Indian regulations, replacing it with test certificates from accredited agencies. Later in 2009, the company announced the establishment of operations in India followed by the commencement of sales a year later.Initially, after entering India Harley-Davidson maintained that its bikes would not be manufactured anywhere outside the US so as not to dilute its 'Made in America' exclusivity, the company changed its stance and from early 2011 it started assembling motorcycles in India at its CKD assembly unit at Bawal in Haryana.India was the second country where Harley-Davidson set up CKD assembly operations outside the US, after Brazil. However in 2020 the company decided to discontinue its sales and manufacturing operations in India as part of a global restructuring and closed the Bawal plant in Haryana.The same year the company announced a partnership with India's leading two-wheeler maker Hero MotoCorp through a distribution agreement.Under the agreement, the Indian partner agreed to sell and service Harley-Davidson motorcycles and sell parts and accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero MotorCorp's existing dealership network in India.In December last year, the two companies expanded their collaboration to introduce new products and agreed to introduce new trims of Harley-Davidson X440 and develop an all-new bike.

A long bear candle was formed on the weekly chart, which indicates a reversal on the downside after the two weeks of upside bounce. The negative chart pattern like lower tops and bottoms is in force as per the daily and weekly time frame chart.A decisive move below the support of 22,800 levels could open the next downside of around 22,450 levels (20-month EMA) in the near term. Immediate resistance is placed at 23,250, said Nagaraj Shetti of HDFC Securities.In the open interest (OI) data, the highest OI on the call side was observed at 23,000 and 23,100 strike prices, while on the put side, the highest OI was at 22,800 strike price followed by 22,900.What should traders do? Here’s what analysts said:Satish Chandra Aluri, Lemonn Markets DeskBenchmark indices extended losses on Friday for 8th consecutive session in a bruising sell off throughout the week. U.S. President Trump’s plan to impose reciprocal tariffs, which could impact India more, had heavily weighed on the indices. Technically, Nifty 50 closed below the 23000-support level with potential for further losses in coming sessions and 22800 is the next immediate support on the downside.Hrishikesh Yedve, Asit C. Mehta Investment InterrmediatesTechnically, Nifty has formed a triple bottom around 22,780 on the daily scale, indicating strong support. However, the red candle on both daily and weekly charts signals a lack of strength in the upside recovery. The 21-Day Simple Moving Average (DSMA) is placed around 23,260, making the 23,260-23,300 zone an immediate hurdle. A decisive move above 23,300 could confirm a near-term bottom reversal pattern.Jatin Gedia, Mirae Asset SharekhanOn the daily charts, we can observe that the Nifty has tested the swing low of 22800 for the third time in the last one month. We believe that the Nifty is likely to continue with the decline and test the lower end of the wedge 22,670 – 22,600 during the upcoming week. On the upside, the resistance zone of 23,000 – 23,100 which coincides with the key hourly moving averages shall rise under check. Huge addition in the open interest across 23,000 – 23,300 Call Option strikes shall also keep the benchmark under pressure and until the call writers unwind we expect the pullbacks in Nifty to be sold into. Overall, we shall continue to maintain our negative stance.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)