Completes Sale of 100% Stake in Purva Ruby Properties for About Rs. 145 Crore

The company has completed the transfer of its entire 100% equity stake in Purva Ruby Properties Pvt Ltd to Prishal Office Parks III Pvt Ltd (backed by an ICICI Prudential AIF) on September 30, 2026.

Wed 30 Sep 2026

Sale Value

₹145,00,00,000/-

Subsidiary Turnover

₹25,38,89,035/-

Turnover Contribution

1.06% of parent company turnover

Subsidiary Net Worth

Negative

Transfer Date

September 30, 2026

What happened

Puravankara has completed the transfer of its entire (100%) paid-up equity shareholding in Purva Ruby Properties Private Limited to Prishal Office Parks III Private Limited. The transfer was completed on September 30, 2026, and Purva Ruby has ceased to be a wholly owned subsidiary from that date.

The buyer

• Prishal Office Parks III Private Limited is owned by ICICI Prudential Office Yield Optimiser Fund – AIF II, a category II Alternative Investment Fund managed by ICICI Prudential Asset Management Company Limited.
• The buyer does not belong to the promoter, promoter group or group companies.
• The transaction is not a related party transaction.

Numbers disclosed

• Estimated sale value: around ₹ 145,00,00,000/- (Rupees One Hundred and Forty-Five Crores only).
• Turnover of Purva Ruby Properties: ₹25,38,89,035/-.
• Turnover of Puravankara Limited: ₹ 2399,01,37,354/-.
• Contribution to turnover: 1.06%.
• Net worth of Purva Ruby was negative, so its contribution to the company's net worth is Nil.

Process

The Share Purchase Agreement was signed on June 30, 2026, with connected documents completed on July 06, 2026. Earlier intimations were made on June 26, 2026, July 06, 2026 and August 11, 2026. The sale is outside a Scheme of Arrangement, and the company states Purva Ruby is not an undertaking under Section 180(1)(a) of the Companies Act 2013, so shareholder approval was not required.

How to read it

This is the final step of a previously announced divestment. The entity sold accounted for a small share of group turnover and had negative net worth, while the estimated consideration is around ₹ 145,00,00,000/-.

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