Bengaluru-based real-estate player Puravankara Limited has appointed Deepak Rastogi as the Group Chief Financial Officer (CFO), with effect from January 15, 2025.

Prior to this, Rastogi held leadership roles, including President and Group CFO at Deepak Fertilisers and Petrochemicals Ltd., and President & Group CFO at TATA Autocomp Systems Ltd.

Rastogi is a Chartered Accountant and holds an MBA from the S P Jain Institute of Research & Management.

Commenting on the appointment, Ashish Puravankara, Managing Director of Puravankara Limited, “We are excited to have Deepak on board to strengthen our operating efficiencies and financial controls in line with our future plans.”

Puravankara reported a widened loss of ₹17.06 crore in Q2FY25, marking a more than 50 per cent increase from the ₹11.22 crore loss in the same period last year. Sequentially, the company shifted from a profit of ₹14.78 crore in Q1FY25 to a loss in the second quarter.

The consolidated revenue for Puravankara stood at ₹520 crore, reflecting a 36 per cent increase. Net debt rose to ₹2,430 crore in September, up from ₹2,237 crore in June 2024, with a net debt-to-equity ratio of 1.29 for Q2 FY25. The weighted average cost of debt was 11.62 per cent as of September 30, 2024, while the EBITDA margin stood at 28 per cent.

The shares of Puravankara closed at ₹386, rising by ₹6.51 on the BSE.