Your directors are pleased to present the 39^th (Thirty Ninth) Annual Report along with the Company's audited Financial Statements
(Standalone and Consolidated) for the financial year ending on March 31, 2025.

FINANCIAL HIGHLIGHTS

(' in crore)

FINANCIAL PERFORMANCE
STANDALONE

During the period under review, the standalone revenue
of the Company stood at ' 917.50/- crores compared to
' 1,105.71/- crores in the previous financial year 2023-24.
Correspondingly, the Company has suffered loss (after tax) of
' (198.75)/- crores for the year 2024-25 as against a profit (after
tax) of ' 33.54/- crores in the previous financial year 2023-24.

CONSOLIDATED

The consolidated revenue of your Company stood at '2013.61/-
crores, as compared to ' 2,185.26/- crores in the previous
financial year 2023-24, showing a decrease of 8%. Total
consolidated Loss (after tax) for the year stood at ' (182.92)/-
Crores compared to the profit (after tax) of ' 42/- Crore in the
previous financial year 2023-24.

Your Company is in the business of real estate development
and sales and follows IND AS 115 for recognition of revenue.
Accordingly, revenue can be recognized only when, apart
from other related conditions, the house/unit is delivered to
the customer. The development and delivery of homes/units
take substantial time - often three to five years and hence
revenue in respect of such projects can be recognized only
upon completion of such projects. Thus, there is a substantial
lag in revenue recognition. Although the sale is confirmed
and customer advance is collected and construction is
substantially completed, revenue cannot be recognized in line
with prevailing regulations. Further, as and when the Company
incurs any sales and marketing expenses, the same needs to
be accounted for as a cost for that period.

To ensure a balance between revenue and cost, your Company
has ensured sufficient spread of its projects across different
timelines in a manner to enable continuous delivery of
projects and cash flow throughout the year under review. The
Company has also launched plotted development projects
with a shorter completion cycle.

OPERATIONAL PERFORMANCE

Puravankara Limited achieved an area of 5.67 million sq.
ft. in the financial year 2024-25 compared to 7.36 million
sq. ft. in the previous financial year 2023-24. Due to the
significant challenges in regulatory approvals, the sales value
has decreased on a year-on-year basis to ' 5,006/- crores
compared to ' 5,914/- crores during the previous financial year
2023-24. Customer Collection has increased to 9% YoY (Year
On Year) of up to ' 3,937/- Crore in FY25, indicating improving
operating efficiencies.

Further, the Company witnessed an increase in home buyers'
interest in larger homes, better amenities and well-designed
projects, driving consumers to consider Puravankara. Your
Company invested approx. ' 1,284/- crore in land during FY25,
strengthening the development pipeline, positioning us for
sustained growth and value creation.

COMPLETED PROJECTS

During the period under review, your Company has completed
and handed over 2510 units measuring over 3.09 million
square feet real estate projects.

ONGOING PROJECTS

During the period under review, the projects launched by the
Company include - Bayscape, Purva Panorama, Bougainvilla,
Atmosphere Pune, across India. Puravankara has launched
developable area of 7.38 square feet (Sq. ft) and opened
for sale at the time of Launch of 3.6 million square feet of
inventory in FY25. Out of 3.6 million square feet, Bengaluru
constitutes 31%, Chennai 23%, Mumbai 29% and Pune 17%.

DIVIDEND

With an objective to enhance the future growth of your
company and conserve cash reserves, the Board of Directors
have decided not to recommend dividend payout for the
Financial Year ending March 31, 2025.

In terms of the Regulation 43A of Securities and Exchange
Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("Listing Regulations"),
the Dividend Distribution Policy of the Company is
available on the website of the Company at https://www.
puravankara.com/backend/assets/uploads/investors_
reportsffi4ac16e0ee24eda4e76579a8847bc4f4.pdf

TRANSFER TO RESERVES

Pursuant to the provisions under Section 123 of the Companies
Act 2013 ("Act"), there was no proposal to transfer any amount
to the General Reserves of the Company for the period under
review.

ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Adequate internal control systems commensurate with
the nature of the Company's business, size and complexity
of its operations are in place and have been operating
satisfactorily. Internal control systems comprising of policies
and procedures are designed to ensure reliability of financial
reporting, timely feedback on achievement of operational
and strategic goals, compliance with policies, procedure,
applicable laws and regulations. Internal control systems are
designed to ensure that all assets and resources are acquired
economically, used efficiently and adequately protected.

The Internal Financial Controls, with reference to Financial
Statements as designed and implemented by the Company,
are adequate. During the period under review, no material or
serious observation has been received from the Statutory
Auditors and the Internal Auditors of the Company on the
inefficiency or inadequacy of such controls.

SHARE CAPITAL

The paid-up equity share capital remained unchanged at
' 118,57,48,430 during the financial year ended March 31, 2025.
The said shares are listed on the Bombay Stock Exchange
(BSE) Limited and the National Stock Exchange of India (NSE)
Limited.

There were no public issues, rights issues, bonus issues
or preferential issues during the period under review. The
Company has not bought back any of its securities during the
year.

DISCLOSURE RELATING TO EQUITY SHARES WITH
DIFFERENTIAL RIGHTS

The Company has not issued any equity shares with
differential rights during the period under review and hence no
information under Rule 4(4) of the Companies (Share Capital
and Debenture) Rules, 2014, is required to be furnished.

DISCLOSURE RELATING TO SWEAT EQUITY SHARES

The Company has not issued any sweat equity shares during
the period under review and hence no information under

Rule 8(13) of the Companies (Share Capital and Debenture)
Rules, 2014 is required to be furnished.

DISCLOSURE IN RESPECT OF VOTING RIGHTS NOT DIRECTLY
EXERCISED BY EMPLOYEES

There are no shares held by trustees for the benefit of
employees and hence no disclosure under Rule 16(4) of the
Companies (Share Capital and Debentures) Rules, 2014 is
required to be furnished.

EMPLOYEE STOCK OPTION PLAN

The disclosures in terms of Rule 12 (9) of Companies (Share
Capital and Debenture) Rules, 2014 read with Regulation
14, Part F of Schedule I to the SEBI (Share Based Employee
Benefit & Sweat Equity) Regulations, 2021 ("SBEB Regulations,
2021") forms a part of this report as Annexure IV.

Pursuant to the provisions under Regulation 13 of SBEB
Regulations, 2021, the Secretarial Auditor's certificate on the
implementation of the Plan -2022, in accordance with the
aforesaid Regulations, will be made available at the ensuing
Annual General Meeting ("AGM") and forms part of this report
as Annexure IVA.

The applicable disclosures as stipulated under the provisions
of Regulation 14 of the SBEB Regulations, 2021, are available
on the website of the Company at https://www.puravankara.
com/investors/

DEBENTURES

As on March 31, 2025, The Company has outstanding
Standalone debentures amounting to ' 132.42/- Crores
and outstanding Consolidated debentures amounting to
' 1,347.13/- Crores

During the period under review, your Company on June 20,
2025, raised an amount of ' 50/- Crores (Rupees Fifty Crores
only) by way of allotment of 500 (Five Hundred) unlisted,
unrated, senior, secured, redeemable, non-convertible
debentures of face value of ' 10/- Lakhs (Rupees Ten Lakhs
only) at par as first tranche, on a private placement basis to
identified investors out of the total approved issuance amount
of ' 300/- Crores (Rupees Three Hundred Crores only).

DEPOSITS

During the period under review, your Company neither accepted
any deposits nor there were any amounts outstanding at the
beginning of the year which were classified as 'Deposits'
within the meaning of Section 73 of the Companies Act
2013 read with Rule Companies (Acceptance of Deposits)
Rules, 2014 and Chapter V of the Act. Therefore, disclosure
pursuant to Rule 8(5)(v) and (vi) of the Companies (Accounts)
Rules, 2014 is not furnished.

DIRECTORS AND KEY MANAGERIAL PERSONNEL (KMP)

During the period under review, the Board of the Company Regulations:

comprised of 7 (Seven) Directors, out of which 4 (Four)

are Executive Directors and 3 (Three) are Non-Executive

Independent Directors. During the period under review, the

composition of the Board was as follows, in due compliance

with the provisions under the Companies Act, 2013 and Listing

Key Managerial Personnel within the meaning of Section 203 of the Companies Act, 2013 as at the date of this report are as follows:

During the period under review,

O ’Consequent to on-boarding of Group CFO, Mr. Abhishek Kapoor resigned from the position of Group Chief Financial Officer of
the Company w.e.f. January 15, 2025. Mr. Abhishek Kapoor further resigned as Executive Director and Group Chief Executive
Officer of the Company with effect from May 09, 2025, citing personal reasons and has confirmed that there are no other
material reasons attributable/ connected with the Company for his resignation.

O ’’Ms. Amanda Joy Puravankara has been appointed as Additional Director in the capacity of Whole Time Director designated as
Key Managerial Person of the Company w.e.f. August 08, 2025, subject to the approval of the Members of the Company at the
ensuing Annual General meeting. A resolution to this effect is included in the notice of the ensuing Annual General Meeting,
which may kindly be referred to for more details.

O ’’’Mr. Deepak Rastogi was appointed as the Group Chief Financial Officer of the Company, w.e.f. January 15, 2025.

O Mr. Ravi Puravankara, who was appointed as Chairman and Whole Time Director of the Company w.e.f. April 01, 2021, and holds
office till March 31, 2026, is being re-appointed as Chairman and Whole Time Director of the Company for a period of 5 years
commencing from April 01, 2026, till March 31, 2031, subject to the approval of the Shareholders at the ensuing Annual General
Meeting.

O Ms. Shailaja Jha, who was appointed as Non-Executive Independent Director of the Company w.e.f. February 11, 2021, and
holds office till February 10, 2026, is being re-appointed as Non-Executive Independent Director of the Company for a second
term of 5 (Five) consecutive years effective from February 11, 2026, till February 10, 2031, subject to the approval of the
shareholders at the ensuing Annual General Meeting.

O Mr. Kulumani Gopalratnam Krishnamurthy, who was appointed as Non-Executive Independent Director of the Company
w.e.f. June 25, 2021, and holds office till June 24, 2026, is being re-appointed as Non-Executive Independent Director of
the Company for a second term of 5 (Five) consecutive years effective from June 25, 2026, till June 24, 2031, subject to the
approval of the shareholders at the ensuing Annual General Meeting.

In accordance with the provisions of Section 152 (6) of the
Companies Act, 2013, Mr. Ashish Ravi Puravankara (DIN:
00504524) is liable to retire by rotation at the ensuing Annual
General Meeting and being eligible, offered himself for re¬
appointment. The same has been recommended by the Board
for the approval of shareholders, on the recommendation
made by the Nomination and Remuneration Committee of the
Company.

The Notice convening the 39^th (Thirty Ninth) Annual General
Meeting includes the proposals for the re-appointment of the
aforesaid Director and the brief details indicating the nature
of his expertise in specific functional areas and names of
the companies in which he holds directorship/ membership/
chairmanship of the Board or Committees, as stipulated
under SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and Secretarial Standard-2 (SS-2) issued
by Institute of Company Secretaries of India (ICSI)
(as amended), have been provided as an annexure to the
Notice convening the 39^th (Thirty Ninth) Annual General
Meeting of your Company.

DECLARATION OF INDEPENDENCE BY INDEPENDENT
DIRECTORS

Pursuant to the provisions of Section 149 (7) of the Companies
Act, 2013, the Board confirms that all Independent Directors
of your Company have given a declaration to the Board
that they meet the criteria of independence as prescribed
under Section 149(6) of the Act along with the Rules framed
thereunder and Regulation 16 of the Listing Regulations.
Further, they have included their names in the databank of
Independent Directors maintained with the Indian Institute
of Corporate Affairs (IICA) in terms of Section 150 of the Act
read with Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014.

Further, the Board is of the opinion that the Independent
Directors of the Company uphold the highest standards of
integrity and possess requisite expertise and experience
required to fulfill their duties as Independent Directors.

During the Financial Year 2024-25, a separate meeting of
the Independent Directors was held on February 14, 2025, at
which the Independent Directors transacted the following
businesses along with a few other important strategic and
policy-related matters:

O Reviewed performance of the Chairman, Executive
Directors and Management of the Company.

O Discussed the quality, quantity and timeliness of the flow
of information between the Directors and the Management
of the Company.

O Discussed the strategic matters of the Company and the
current state of the real-estate industry.

O Discussed the business continuity plan in the organization.

ANNUAL PERFORMANCE EVALUATION OF THE BOARD, ITS
COMMITTEES AND INDIVIDUAL DIRECTORS

The Nomination and Remuneration Committee has
formulated criteria for Board evaluation, the functioning of its
committees and individual Directors including Independent
Directors and specified that such evaluation will be done by
the Nomination and Remuneration Committee and the Board,
pursuant to the Act and the Rules made thereunder read with
the Listing Regulations, as amended. The Company believes
that it is the collective effectiveness of the Board that impacts
the Company's performance.

The Board's performance is assessed against the role and
responsibilities as provided in the Act and Listing Regulations.
The parameters for the Board's performance evaluation have
been derived from the Board's core role of trusteeship to
protect and enhance shareholders' value as well as to fulfil
the expectations of other stakeholders through strategic
supervision of the Company.

The evaluation of the functioning of Board Committees is
based on discussions amongst Committee members and
shared by the respective Committee Chairperson with the
Board.

Individual Directors are evaluated in the context of the
role played by each Director as a member of the Board, in
realizing the vision and mission of the Company. While the
Board evaluated its performance as per the parameters laid
down by the Nomination and Remuneration Committee , the
evaluation of Individual Directors was carried out in reference
to those laid down parameters, in order to ensure objectivity.
The Independent Directors of the Board also reviewed the
performance of the Non-Independent Directors, the Chairman
and the Board as a whole, pursuant to the provisions under
Schedule IV to the Act and Regulation 25 of the Listing
Regulations.

MEETINGS OF THE BOARD

During the financial year 2024-25, 7 (Seven) meetings of the
Board of Directors were held on the dates as follows:

The mandatory requirement of holding meetings of the Board
of Directors of the Company, i.e., within the interval of 120
(One Hundred and Twenty) days as provided in Section 173
of the Companies Act, 2013 and Regulation 17(2) of Listing
Regulations, has been complied with.

For further details, request you to refer to the Corporate
Governance Section forming part of the Annual Report.

The recommendations and suggestions of the Audit
Committee and the other Committees of the Board were
duly considered and accepted by the management of your
Company and implemented thoroughly. The Board of Directors
further confirm that the Secretarial Standards I and II issued
by the Institute of Company Secretaries of India (ICSI) have
been duly complied with.

COMMITTEES OF THE BOARD

As on March 31, 2025, the Board had 5 (five) Statutory
Committees i.e., (i) Audit Committee (ii) Nomination and
Remuneration Committee (iii) Corporate Social Responsibility
Committee (iv) Stakeholders' Relationship Committee and
(v) Risk Management Committee and 1 (One) Non-Statutory
Committee i.e., Management Sub-Committee of Board of
Directors.

(i) Audit Committee:

An Audit Committee has been constituted in accordance
with the provisions of Section 177 of the Companies Act,
2013 and Regulation 18 of the Listing Regulations. You may
refer to the section on Corporate Governance, under head
'Audit Committee' for matters relating to constitution,
meetings and terms of reference of this Committee.

(ii) Nomination and Remuneration Committee

A Nomination and Remuneration Committee has been
constituted in accordance with the provisions of Section
178 (1) of the Companies Act, 2013 and Regulation 19 of
the Listing Regulations. You may refer to the section
on Corporate Governance, under head 'Nomination
and Remuneration Committee' for matters relating to
the constitution, meetings, terms of reference of the
Committee; and the remuneration policy formulated by
this Committee.

(iii) Stakeholders Relationship Committee

A Stakeholders relationship Committee has been
constituted in line with Section 178 (5) of the Companies
Act, 2013 and the provisions under Regulation 20 of the
Listing Regulations.

You may refer to the section on Corporate Governance,
under the head 'Stakeholders Relationship Committee' for
matters relating to constitution, meetings, and terms of
reference of the Committee.

(iv) Risk Management Committee

The Company has in place a Risk Management Committee
duly constituted in line with the provisions under
Regulation 21 of the Listing Regulations. You may refer
to the section on Corporate Governance, under the head
'Risk Management Committee' for matters relating to the
constitution, meetings, and terms of reference of the
Committee.

(v) Corporate Social Responsibility Committee

In pursuance of the provisions of Section 135 of the
Companies Act, 2013 and Companies' (Corporate Social
Responsibility Policy) Rules 2014, a Corporate Social
Responsibility (CSR) Committee has been constituted by
the Board of the Company.

For details of the composition of the Committee, the
CSR policy and other relevant details that are required to
be disclosed under the provisions of Section 134(3)(o) of
the Companies Act, 2013 and the Companies (Corporate
Social Responsibility Policy) Rules, 2014, kindly refer to the
section on Corporate Governance, under head 'Corporate
Social Responsibility Committee' and the annual report on
CSR which is enclosed as Annexure I, which forms part of
this report.

(vi) Management Sub-Committee:

For conducting the day-to-day affairs of the Company,
a non-statutory Committee i.e., Management Sub¬
Committee of the Board of Directors has been constituted.

You may refer to the section on Corporate Governance,
under head 'Management Sub-Committee' for details
related to composition and other relevant information of
the Committee.

VIGIL MECHANISM CUM WHISTLE BLOWER POLICY

Pursuant to the provisions under Section 177(9) of the Act
and Regulation 22 of Listing Regulations the Company has
established a Vigil Mechanism/ Whistle Blower Policy for
Directors and employees to report their genuine concerns.

At Puravankara, we have a comprehensive whistle-blower
policy that allows and encourages all stakeholders to bring
to the management's notice concerns about suspected
unethical behavior, malpractice, wrongful conduct, fraud and
violation of the company's policies.

The policy is available on the website of the
Company at the link: https://www.puravankara.com/
nextbackend/assets/uploads/investors_reports/
e8e3d504efd3bfc6334a78628224ab1d.pdf

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the provisions under Section 134(3)(c) read with
Section 134(5) of the Companies Act, 2013, your Directors
hereby confirm that:

a) In the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper
explanation relating to material departures;

b) The Directors have selected such accounting policies
and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a
true and fair view of the state of affairs of the Company at
the end of the financial year on March 31, 2025, and of the
profit and Loss of the Company for that period;

c) The Directors have taken proper and sufficient care for
the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act,
2013, for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities;

d) The annual accounts of the Company have been prepared
on a 'going concern' basis;

e) The Directors have laid down internal financial controls to
be followed by the Company and that such internal financial
controls are adequate and are operating effectively; and

f) The Directors have devised proper systems to ensure
compliance with the provisions of all applicable laws and
that such systems are adequate and operating effectively.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT
DIRECTORS

The Company conducts a familiarization programme for the
Independent Directors to enable them to familiarize with the
Company, its management and its operations so as to gain a
clear understanding of their roles, rights and responsibilities
for the purpose of contributing significantly towards the
growth of the Company.

The familiarization programme imparted to Independent
Directors is displayed on the Company website and can be
accessed at: https://www.puravankara.com/financials/PL_
ID-Familiarization-Programme-2024-25.pdf.

AUDITORS & AUDITORS' REPORT
STATUTORY AUDITORS

In pursuance of the provisions under Section 139 (2) of the
Act read with the Companies (Audit and Auditors) Rules,
2014 (as amended), M/s. S R Batliboi & Associates LLP,
CharteredAccountants, FRN 101049W/E300004, were
appointed by the members as Statutory Auditors of the
Company for a period of 5 (Five) consecutive years from the
conclusion of the 36^th AGM held on September 27, 2022, till the
conclusion of the 41^st AGM to be held in the year 2027.

The Audit Committee reviews the independence and
objectivity of the Auditors and the effectiveness of the Audit
process. The Auditors will attend the Annual General Meeting
of the Company.

The Statutory Auditors have expressed an unmodified opinion

in their Consolidated Auditors' Report and the Standalone
Auditors' Report in respect of the audited financial statements
for the financial year ended March 31, 2025.

COST AUDITORS

In pursuance of the provisions under Section 148 of the
Companies Act, 2013 read with the Companies (Cost Records
and Audit) Rules, 2014 (as amended), your Company is required
to maintain the cost records and the said cost records
are required to be audited. The Company maintains all the
aforesaid cost records.

M/s. GNV & Associates (Firm Registration No.: 000150), the
Cost Auditors of the Company, audited the cost records of the
Company for the financial year ended 2024-25. There were
no qualifications or adverse remarks in the Cost Audit Report
which require any explanation from the Board of Directors.

The Board has, on the recommendations of the Audit
Committee, re-appointed M/s. GNV & Associates, Cost &
Management Accountants, to conduct the audit of cost
records for the financial year 2025-26. The remuneration
payable to the Cost Auditor for FY25 is subject to ratification
by the members at the ensuing AGM and the same is included
in Notice convening the 39^th AGM.

SECRETARIAL AUDITORS

In pursuance of the provisions under Section 204 of the
Companies Act, 2013 read with the Rule 9 of The Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014 and any other Rules made thereunder and
Regulation 24A of the Listing Regulations, M/s JKS &
Co. (Firm Registration No.: P2015KR040800), Practicing
Company Secretaries, conducted the secretarial audit of the
Company, and its unlisted subsidiaries incorporated in India,
for the financial year 2024-25. The Secretarial Audit Report
of the Company and its unlisted material subsidiaries for the
financial year ended March 31, 2025, are attached herewith,
marked as Annexure II, Annexure IIA, Annexure IIB and
Annexure IIC to this Report.

In pursuance of the provisions under Section 204 of the
Companies Act, 2013 read with the Rule 9 of The Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014 and any other Rules made thereunder and
Regulation 24A of the Listing Regulations,, the Board of
Directors has appointed, M/s JKS & Co. (Firm Registration
No.: P2015KR040800), Practicing Company Secretaries, a
Peer Reviewed Firm, has been appointed as the Secretarial
Auditors of the Company for a term of 5 (Five) consecutive
years i.e., from FY 2025-26 till FY 2029-30 subject to the
approval of the Shareholders in the ensuing Annual General
Meeting. A resolution to this effect is included in the notice
of the ensuing Annual General Meeting, which may kindly be
referred for more details.

INTERNAL AUDITORS

Pursuant to the provisions under Section 138 of Companies
Act, 2013, your directors, on the recommendations of the Audit
Committee, have appointed M/s. Grant Thornton Bharat LLP,
as Internal Auditors for a period of 3 (Three) years effective
from April 01, 2025, to March 31, 2028.

AUDITORS QUALIFICATION, RESERVATION OR ADVERSE
REMARK OR DISCLAIMER

There was no qualification, reservation or adverse remark
or disclaimer from Statutory & Secretarial Auditors and the
comments given by the Statutory & Secretarial Auditors in
their respective Reports are self-explanatory and hence, do
not call for any further explanations or comments from the
Board.

Further, there was no fraud reported by the auditors under
section 143(12) of the Companies Act, 2013.

PARTICULARS OF INVESTMENTS MADE, LOANS GIVEN,
GUARANTEES GIVEN AND SECURITIES PROVIDED BY THE
COMPANY

The particulars of loans, guarantees and investments made
as at the end of FY 2024-25 are provided in the standalone
financial statements (refer Note No. 7).

Further to note that provision of Section 186 of the Companies
Act, 2013 is not applicable as Puravankara Limited being an
Infrastructure Company.

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES

We ensure that all transactions that are entered into with
related parties during the financial year meet the criteria of an
arm's length price basis. All contracts and arrangements with
related parties under Section 188(1) of the Act, entered into by
the Company during the financial year, were approved by the
Audit Committee and wherever required, also by the Board
of Directors. The Related Party Transaction details including
the transaction(s) of the Company if any, with a person/entity
belonging to the promoter/promoter group which hold(s) more
than 10% shareholding in the Company as required pursuant
to para-A of Schedule V of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 forms part of
the notes to the financial statements provided in this Annual
Report.

The policy on dealing with Related Party Transactions as
approved by the Board can be accessed at https://www.

puravankara.com/nextbackend/assets/uploads/investors_

reportsZd969467c1a61e1ad84e3bccbf670b5f1.pdf

Please refer to the details in Annexure III E-Form AOC-2.
FINANCIAL STATEMENTS

In accordance with the provisions under Section 129(3) of the
Companies Act, 2013 and Regulation 33 and Regulation 34
of the Listing Regulations, the Standalone and Consolidated
Financial Statements of the Company were prepared in
accordance with the Indian Accounting Standards (Ind AS)
prescribed by the Institute of Chartered Accountants of India
(ICAI), forms part of this Annual Report.

The financial statements are available for inspection during
business hours at the Registered Office of your Company.

STATEMENT RELATING TO SUBSIDIARIES AND THEIR
FINANCIAL STATEMENTS

In pursuance of the provisions under Section 129(3) of the
Companies Act 2013 read with Rule 5 of the Companies
(Accounts) Rules, 2014, (as amended) a statement containing
the salient features of financial statements of the Companys'
subsidiaries in E-Form No. AOC-1 is attached to the financial
statements of the Company as Annexure III to this report.

Your Directors hereby inform you that the audited annual
accounts and related information of the subsidiaries will be
available for inspection on any working day during business
hours at the registered office of the Company.

Further, pursuant to the provisions of Section 136 of the Act,
the Standalone financial statements, consolidated financial
statements of the Company along with relevant documents
and separate audited financial statements in respect of
subsidiaries, are available on the Company's website at:
https://www.puravankara.com/investors.

SUBSIDIARIES

As on date, the Company has 35 subsidiary companies
(including nine step-down subsidiaries in India and 2
subsidiaries in Sri Lanka). Of these, Provident Housing
Limited, Starworth Infrastructure & Construction Limited and
T-Hills Private Limited, are unlisted material wholly owned
subsidiaries of the Company as defined under the Listing
Regulations. In pursuance of the provisions under regulation
24 of the Listing Regulations the following Independent
Directors of the Company were appointed on the Board of
Directors of unlisted material wholly owned subsidiaries:

As on date, T-Hills Private Limited does not fulfil the criteria laid down in the explanation to Regulation 24(1) of the Listing
Regulations and therefore the requirement specified in the said regulation is not applicable.

Details of entities which became/ceased to be the Company's subsidiaries, joint ventures or associate companies: Nil.

The link to access policy on material subsidiaries is: https://www.puravankara.com/backend/assets/uploads/investors_reports/
dbc1e9da6f56363472b1140a77ce51c0.pdf

MATERIAL CHANGES AND COMMITMENTS

In terms of Section 134(3) of the Companies Act, 2013, no material changes and commitments which could affect the Company's
financial position occurred between the end of the financial year of the Company to which the Balance Sheet relates and to the
date of this Report and there has been no change in the nature of business of the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information in accordance with the provisions of Section 134 (3) (m) of the Companies Act, 2013, read with Rule 8 of the Companies
(Accounts) Rules, 2014, is as follows:

A. CONSERVATION OF ENERGY

C. FOREIGN EXCHANGE EARNINGS AND OUTGO

HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES AND THEIR CONTRIBUTION
TO THE OVERALL PERFORMANCE OF THE COMPANY*:

Apart from these three Unlisted Material Wholly Owned Subsidiaries,, other wholly owned subsidiaries, subsidiaries, associates
and joint venture companies do not have any significant contribution towards the performance of Puravankara Limited.

*The % of contribution of T-Hills to the overall performance of the Holding Company is in negative because the Consolidated PAT
of Puravankara Limited for the FY 2024-25 is in negative.

Kindly refer to E-form AOC-1 for more details, which forms part of this report.

RISK MANAGEMENT POLICY

The Board of Directors of the Company has put in place a Risk
Management Policy which aims at enhancing shareholders'
value and providing an optimum risk-reward tradeoff. The risk
management approach is based on a clear understanding of
the variety of risks that the organization faces, disciplined
risk monitoring and measurement and continuous risk
assessment and mitigation measures.

The policy is available on the website of the Company at:
https://www.puravankara.com/backend/assets/uploads/
investors_reportsZ2cbdca9c0398f68d78b2f61527314d76.pdf.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

During 2024-25, we continued to focus our CSR efforts in
building the fundamentals of society:

• Environment and sustainability

• Education

• Art and culture

• Para Sport

Below are few of the long-term CSR interventions by
Puravankara in its chosen areas:

Medians and park maintenance

Puravankara has been maintaining medians and parks for 10
years. Medians and parks are adopted from the BBMP under
the PPP model, and an external landscaping team is deployed

for maintenance. Presently, we are maintaining 7 medians, 1
park and 1 circle. Furthermore, the Company has planted 400
species of air purifying, flowering and ornamental plants at
park and medians. This has spruced up the public space and
roads. Puravankara has won awards for "Well-maintained
Medians" from the Department of Horticulture, Govt. of
Karnataka and the Mysore Horticulture Society organized
horticulture shows during Independence Day and Republic
Day.

Miyawaki forest - tree plantation in rural Bengaluru

As part of a three-year initiative, Puravankara has planted
40,000 trees in FY 2024-25 at Bhoothanahalli, Bannerghatta,
using the Miyawaki method. This effort replicates natural
forest ecosystems, thereby enhancing biodiversity, soil
health, and local wildlife populations. It reflects Puravankara's
commitment to sustainability by restoring degraded land and
creating urban green spaces with ecological and community
value.

Water Conservation Initiatives (Million Wells Program)

Puravankara is advancing water conservation in Bengaluru
through the 'Million Wells for Bengaluru Campaign' to address
the city's acute water scarcity. The initiative focuses on
rejuvenating heritage wells, creating new recharge wells,
and implementing rainwater harvesting systems in public
spaces to promote water sustainability. In FY 2024-25, two
heritage wells were revived in DJ Halli and Sonapanahalli,
benefiting around 3,000 people. Additionally, a focused
project in Hunsamaranahalli has been launched to enhance
water availability from shallow aquifers, with 10 new filter
borewells drilled and 3 refurbished, collectively supplying 468
KL of water daily. This initiative also includes sump cleaning,
waterproofing, open well construction, water treatment, and
pump installations, further strengthening community water
resilience.

Puravankara B-Plan endowment fund for B-Plan (Bachelor
of Planning) students (Scholarship Program)

This program is designed to offer financial support to students
from economically disadvantaged backgrounds. Under this
initiative, Puravankara Ltd. will cover the semester and hostel
fees for the entire four-year course for 10 B-Plan students.
The students will be selected through a process overseen by a
committee formed jointly by Anna University and Puravankara
Ltd.

Vidyasarathi with Protean and TISS

In line with its vision for an equitable future, Puravankara,
in collaboration with Protean eGov and the Tata Institute
of Social Sciences (TISS), supports the Vidyasaarathi
Scholarship program to empower students from economically

disadvantaged backgrounds. Through this initiative,
Puravankara intends to support students pursuing higher
education. Apart from their academic performance, the
eligibility criteria included students whose annual family
income is less than Rs. 5 lakhs and students belonging to the
local community. During FY 2024-25, a total of Rs. 18 lakhs
was disbursed through the scholarship to cover 59 students
across Goa and Karnataka.

Khel Khel Mein

In association with the Wockhardt Foundation, Puravankara
is contributing towards the Khel Khel Mein Program.
This program adopts a unique approach of working with
underprivileged children in the age group of 6-12 years in slum
communities with an aim of providing a space to engage them
in recreational activities within a structured program based
on human values and character. Under the program, children
are provided with opportunity to play with toys and games with
an emphasis on human values, English language and basics of
mathematics and science. The focus is to spread happiness
and joy to the students while creating awareness about the
importance of fun-based learning in society. Puravankara
has contributed to setting up 7 Khel Khel Mein centres in
Bangalore, Mumbai & Pune. Across these centres, about 393
children have benefited from the program.

Supporting Education through facility enhancement

Puravankara has helped to enhance the school infrastructure
at DKZP Higher Primary School, Meenakalia, Panambur,
Karnataka. This initiative has notably improved the school
infrastructure and environment, making it more conducive
to learning. It has equipped the school with additional
classrooms, thereby enabling it to accommodate more
students.

Swami Vivekananda Cultural Youth Centre - Viveka Smaraka,
Mysuru:

Puravankara supported Swami Ramkrishna Mission Ashrama,
Mysuru, in developing Viveka Smaraka-Swami Vivekananda
Cultural Youth Centre to enhance youth education and
learning. The Viveka Smaraka Youth Centre offers thousands
of students values-based character education inspired by
Swami Vivekananda. It focuses on vocational skills, life skills,
and cultural competence, promoting personality development
and community integration. The centre impacts around
25,000 students annually across 26 colleges, 582 schools,
and urban/rural youth, including working professionals,
homemakers, senior citizens, and tourists.

Promotion of Paralympic sport

Puravankara, in partnership with Parishrama Divyang Sports
Academy, launched the project "Empowering Abilities,

Transforming Lives" to support and empower persons
with disabilities through para-sports. The program offers
professional training, nutritional support, and competitive
platforms to help participants build confidence and showcase
their talents. In FY 2024-25, three key events were held in
Bengaluru with full logistical support:

• Badminton Training & Competition - 80 participants

• Para Shot Put Training - 40 participants

• Para Swimming Training & Competition - 80 participants
ANNUAL RETURN

In accordance with the Companies Act, 2013, the annual
returns in the prescribed format is available on the Company's
website at https://www.puravankara.com/investors.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Disclosures pertaining to remuneration and other details as
required under Section 197(12) of the Act read with Rule 5 of
the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are annexed as Annexure V and forms
part of this Report.

REMUNERATION POLICY

The Board, as per the recommendation of the Nomination
& Remuneration Committee, has framed a Nomination &
Remuneration policy, providing (a) criteria for determining
qualifications, positive attributes, and independence of
Directors and (b) a policy on remuneration for Directors, Key
Managerial Personnel, and other employees. The detailed
Remuneration policy may be accessed on the following weblink
of the Company's website at: https://www.puravankara.
com/Financials/Nomination%20and%20Remuneration%20
Policy_PL.pdf

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

In pursuance of the provisions under Regulation 34(2)(f) of
the Listing Regulations and SEBI Master Circular No. SEBI/
HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, The
Company is presenting the Business Responsibility and
Sustainability Report ("BRSR") to the stakeholders of the
Company as part of this Annual Report and available on the
website of the Company at: https://www.puravankara.com/
investors

CORPORATE GOVERNANCE

Your Company believes that strong corporate governance
is critical to enhancing and retaining the stakeholder's
trust. Your Company also endeavors to enhance long-term
stakeholder value and practice good governance in all its
business decisions.

In Pursuance of the provisions under Regulation 34 read with
Schedule V of the Listing Regulations, a separate section on

Corporate Governance practices followed by the Company and
a certificate from Mr. Nagendra D Rao, Practicing Company
Secretary, regarding the compliance of the Corporate
Governance Standards is enclosed herewith.

MANAGEMENT DISCUSSION AND ANALYSIS

A report on Management Discussion and Analysis as stipulated
under Regulation 34 of the Listing Regulations forms an
integral part of this Annual Report.

CREDIT RATING

ICRA Limited vide its letter dated March 18, 2025, has reviewed
the Credit Rating for bank facilities and has reaffirmed the
long-term Rating at [ICRA] A-(Stable) and short-term rating at
[ICRA] A2 .

INSIDER TRADING REGULATIONS

In accordance with the provisions under SEBI (Prohibition of
Insider Trading) Regulations, 2015, the Company has in place
following policies/codes which are revised from time to time
according to applicable laws or as per need:

O The Code of Conduct to Regulate, Monitor and Report
trading by Designated Persons and their Immediate
Relatives;

O The Code of practices and procedures for fair disclosure
of Unpublished Price Sensitive Information (UPSI); and

O The Policy on determination of legitimate purposes for
sharing unpublished price sensitive information and on
dealing with leakage or suspected leakage of unpublished
price sensitive information.

The aforesaid policies/codes are available on the website of
the Company at: https://www.puravankara.com/investors/

Further, the Company has put in place an adequate and
effective system of internal controls including maintenance
of a structured digital database (SDD) and standard operating
procedures (SOP) to ensure compliance with the requirements
of the SEBI (Prohibition of Insider Trading) Regulations, 2015
to track the sharing of UPSI and prevent insider trading.

UNCLAIMED AND UNPAID DIVIDENDS, AND TRANSFER OF
SHARES TO IEPF

Pursuant to Section 124 of the Companies Act, 2013 read with
the Investor Education Protection Fund Authority (Accounting,
Audit, Transfer and Refund) Rules, 2016 ("Rules"), all dividends
remaining unpaid or unclaimed for a period of 7 (Seven) years
and also the shares in respect of which the dividend has not
been claimed by the shareholders for 7 (Seven) consecutive
years or more are required to be transferred to Investor
Education Protection Fund (IEPF) in accordance with the
procedure prescribed in the Rules.

You may refer to the section on Corporate Governance, under
head 'Transfer to IEPF Account' for more details.

INTERNAL COMPLAINT COMMITTEE UNDER SEXUAL
HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013

The Company has zero tolerance for sexual harassment at
workplace and has adopted a policy on Prevention, Prohibition
and Redressal of Sexual Harassment at Workplace in line

with the provisions of the Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013
and the rules made thereunder for prevention and redressal of
complaints of sexual harassment at workplace.

The Company has also complied with provisions relating to
the constitution of Internal Complaints Committee (ICC) under
the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013.

Disclosure of the status of Complaints pursuant to Rule 8 of Companies (Accounts) Rules, 2014, during the period under review, is
as below:

DISCLOSURE UNDER THE REQUIREMENTS OF MATERNITY BENEFIT ACT, 1961

During the period under review, your Company has complied with the applicable provisions of the Maternity Benefit Act, 1961.
Status of Female employees who had availed the benefits under this Act is below:

STATEMENT SHOWING FOREIGN OWNERSHIP LIMITS

Pursuant to Rule 2(s) of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, made under the Foreign Exchange
Management Act, 1999, below is the statement indicating the Board approved foreign ownership limits and the limits utilized
during the period under review:

OTHER POLICIES

Other policies formulated in compliance with the provisions
of the Companies Act, 2013, the Listing Regulations and other
applicable laws are available on the website of the Company
at: https://www.puravankara.com/investors/

OTHER DISCLOSURES

No disclosure or reporting is required in respect of the
following items as there were no transactions or the same

were not applicable During the period under review:

O The Managing Director of the Company has not received
any remuneration or commission from any of the
subsidiaries of the Company;

O No significant or material orders were passed by the
Regulators or Courts or Tribunals which would impact
the 'going concern' status of the Company' and its future
operations;

O There were no proceedings initiated/pending against
your Company under the Insolvency and Bankruptcy Code,
2016;

O There were no instances where your Company required
the valuation for one time settlement or while taking the
loan from the Banks or Financial institutions;

O There was no change in the nature of the business of the
Company.

ACKNOWLEDGEMENTS

Your Directors place on record their gratitude to the Central
Government, State Governments and Company's Bankers
and other lenders for the assistance, co-operation and
encouragement. Your directors also wish to place on record
their sincere thanks and appreciation for the continuing
support and unstinting efforts of investors, vendors, dealers,
business associates and employees in ensuring excellent all¬
around performance.

For and on behalf of the Board of Directors of
Puravankara Limited

sd/- sd/-

Ashish Ravi Puravankara Amanda Joy Puravankara

Managing Director Additional Whole Time Director

Din: 00504524 Din: 07128042

Date: August 08, 2025 Date: August 08, 2025

Place: Bengaluru Place: Bengaluru