Puravankara Q3 bookings rise 20% to Rs 796 cr on higher price realisation

Realty firm Puravankara Ltd on Monday reported a 20 per cent increase in its sales bookings to Rs 796 crore for the quarter ended December, mainly on higher price realisation.

In a regulatory filing, the Bengaluru-based company shared the operational update for the October-December period of 2022-23 financial year.

Sales bookings stood at Rs 796 crore in the third quarter of this fiscal as against Rs 666 crore in the year-ago period. In terms of volumes, sales bookings rose 3 per cent to 1.02 million square feet from 0.99 million square feet.

Price realisation increased to Rs 7,767 per square feet from Rs 6,727 per square feet.

During April-December period of this fiscal, sales bookings increased to 2.79 million square feet from 2.32 million square feet in the year-ago period.

Sales bookings rose 33 per cent to Rs 2,100 crore in the first nine months of this fiscal from Rs 1,576 crore in the corresponding period of this year.

Price realisation increased 11 per cent to Rs 7,528 per square feet from Rs 6,795 per square feet.

Puravankara Ltd sells properties under three brand Puravankara, Provident Housing and Purva Land. As of March 2022, Puravankara has completed 78 projects measuring around 44 million square feet across nine cities - Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.

The company's total land bank is around 57 million square fet, and ongoing projects add up to about 25 million square feet.