Puravankara Ltd To Focus On Replenishing Land Bank  

Puravankara Limited, announced its financial results today for the first quarter (Q1FY25) ending June 30, 2024.The company achieved quarterly sales value of Rs 1,128 crore for Q1FY25 in sustenance vs Rs 1,126 crores in Q1FY24, as the planned launches were deferred to Q2FY25.

The company also achieved quarterly customer collections from the real estate business of Rs 965 crores in Q1FY25 compared to Rs 696 crores in Q1FY24, up by 39 per cent y-o-y. Average price realisation increased by 6% Y-o-Y to Rs 8,746/sft. Revenue from projects stood at Rs 676 crores (+101% Y-o-Y).

Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, “The revenue recognized went up to Rs 676 crores on account of higher delivery of 929 units, a 108% growth over last year’s delivery, demonstrating our commitment and focus on operations. While the company sold 1.29 msft, our focus was on replenishing our landbank. The company deployed Rs 762 crores for land acquisition in MMR, Goa and Bengaluru.”

Sales value stood at Rs 1,128 crores. Average price realisation stood at Rs 8,746/sft. 1.16 msft delivered in Q1FY25 compared to 0.49 msft in Q1FY24.Consolidated Q1FY25 Financial Performance.  Revenue from projects stood at Rs 676 crores (+101% Y-o-Y). EBITDA stood at Rs 148 crores (96 % Y-o-Y). Profit of Rs 15 crores as compared to a loss of Rs 17 crores in Q1FY24.The net debt stood at Rs 2,237 crores for Q1FY25.