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Puravankara Ltd reported a sales booking of INR 1,124 crore for the April-June quarter of the current financial year, reflecting a modest increase from INR 1,064 crore during the corresponding period last year. This growth came despite a slight drop in sales volume to 1.25 million sq ft, as average price realisation rose sharply to INR 8,988 per sq ft. The firm continues to maintain a robust footprint across nine cities.
Real estate developer Puravankara Ltd recorded sales bookings of INR 1,124 crore during the April to June quarter of the current fiscal year, showing an uptick compared to INR 1,064 crore achieved during the same period a year earlier. The growth in sales value was attributed to an increase in average price realisation, despite a marginal decline in sales volume. Advertisement
According to the company's latest regulatory filing submitted on Friday, sales volumes fell to 1.25 million square feet, down from 1.29 million square feet in the corresponding quarter last year. However, this was offset by a significant improvement in average price realisation, which rose to INR 8,988 per square foot compared to INR 8,246 per square foot previously.
Puravankara, which has been active in the Indian property market for over four decades, has completed over 90 projects, spanning approximately 53 million square feet. Its operations span nine major Indian cities?Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa?where it has established a solid presence in both residential and commercial segments.
The company currently holds a land bank of around 25 million square feet. Additionally, its ongoing developments account for a total of 37 million square feet, further reinforcing its pipeline of upcoming supply across key urban markets.
With a sizable land bank and ongoing projects across strategically located cities, the developer appears to be positioned for sustained growth in the coming quarters, especially if pricing trends remain favourable.
Source - PTI
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