Puravankara Projects

Puravankara Reports Highest Ever Q3 Sales, Revenue Growth of 67 Percent Amounting to 410 Cr.

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 p

We are looking at launching about 16 million sq ft in the market and in the first phase, we will typically launch about six million

The company's subsidiary Provident Housing Ltd will develop 3 million square feet in the project, which is spread over 18 acres, named 'Provident Winworth' at Kochi

Puravankara has completed 74 projects measuring over 42 million square feet area and over 22 million square feet of projects are under development.

Bengaluru-based developer Puravankara has initiated a similar increase in prices

This came on the back of strong demand driven by low-interest rates on home loans amid the Covid-19 pandemic.

Puravankara has already launched two luxury projects under its World Home Collection brand in Bengaluru and Chennai

Listed players such as Brigade, Sobha, Puravankara seek reduction across all budget segments

Realty firm Puravankara Ltd has entered into plotted development segment and will start six projects over the next 6-7 months with an investment of about Rs 825 crore

Margins in residential projects have come down from 20-30 per cent last year to 8 to 10 per cent in today's market

Players such as Puravankara, Salarpuria Sattva in talks to develop data centres in top metros

It has tied up with Morgan Stanley as a JV partner for the warehousing business and will be concentrating on Bengaluru followed by Mumbai, Hyderabad, Chennai and Pune

In these three housing projects, Puravankara would develop a total of 1,460 units with a built up area of 2.2 million sq ft and an estimated cost of around Rs 850 crore.

Puravankara launches Purva Atmosphere which will have a 40 feet high tower to purify 32 million cubic metres of air per day

Puravankara reported a 39% fall in its consolidated net profit at Rs 21.14 crore for the quarter to September

The stock up 16% to Rs 49.85 after the company posted a 56% YoY increase in consolidated net profit