Puravankara acquires additional 39.54% stake in Sobha Puravankara Aviation; shares up 4.1%

Purvankara informed the exchanges that it will be acquiring 37,80,000 equity shares of ₹10 each (39.54%) of Sobha Puravankara Aviation (SPAL) held by Sobha Projects and Trade.

As a result of this acquisition, the shareholding of Puravankara in SPAL has increased to 89.49% from the present 49.95%.

Sobha Puravankara Aviation is engaged in the ‘Chartered Aircraft Service’ industry. The company's authorized capital stands at ₹1,000 lakhs and has 95.6% paid-up capital which is ₹956.0 lakhs. Sobha Puravankara Aviation Private Limited last annual general meet (AGM) happened on 29 September, 2017. The company last updated its financials on 31 March, 2017 as per the Ministry of Corporate Affairs (MCA).

Puravankara announced their Q3 results on February 14, 2025 and posted a significant decline in their financial performance. The company’s topline decreased by 44.54% which resulted in a loss of ₹92.41 crore, compared to a ₹77.92 crore profit in the same quarter last year.

Sequentially, revenue dropped 35.79%, raising concerns amid rising Selling, General & Administrative expenses, which grew 4.7% quarter-on-quarter and 31.91% year-on-year.

The operating income of Puravnkara declined by 89.92% quarter-on-quarter and a staggering 94.55% year-on-year. On the other hand, the Earnings Per Share (EPS) fell to ₹-3.92, representing a decrease of 219.15% compared to the previous year.

As on February 19, the market capitalisation of Puravankara stands at ₹5,526 crore.