Puravankara Projects gains after latest online campaign receives strong response

Puravankara Projects rose 3.42% to Rs 86.10 at 10:45 IST on BSE after the company said its latest campaign on "The Greatest Online Sale on Homes" has seen unprecedented interest from home buyers across the country.

The company made the announcement after market hours yesterday, 10 December 2014.

Meanwhile, the BSE Sensex was down 198.60 points, or 0.71%, to 27,632.50.

On BSE, so far 31,669 shares were traded in the counter, compared with an average volume of 52,891 shares in the past one quarter.

The stock hit a high of Rs 89.80 and a low of Rs 85.50 so far during the day. The stock hit a 52-week high of Rs 133.90 on 11 February 2014. The stock hit a 52-week low of Rs 50 on 3 March 2014.

Shares of realty firm had underperformed the market over the past one month till 10 December 2014, falling 13.46% compared with 0.16% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 11.39% as against Sensex's 2.86% rise.

Puravankara Projects said that its latest campaign on The Greatest Online Sale on Homes in partnership with Google's GOSF Campaign went live late on Tuesday, 9 December 2014 and has seen unprecedented interest from home buyers across the country. Over 125 homes were booked online in less than 12 hours of the offer going live, as home buyers took advantage of very lucrative offers from both the Puravankara and Provident Brands. The sudden spike in the traffic to unprecedented levels temporarily slowed down the website, and was restored immediately. The GOSF campaign is on till the 12 December 2014 and it is anticipating the interest in its homes to go up substantially over the next 3 days, Puravankara Projects said. Puravankara and Provident, a 100% subsidiary of Puravankara Group, are offering significant incentives to its consumers to choose from over a dozen of its ready to move in projects in Bangalore, Chennai, Coimbatore and Kochi. Its online strategy has been to see how it can reduce the anxiety that consumer goes through while buying a home.

Puravankara Projects' consolidated net profit fell 53.5% to Rs 21.40 crore on 42.7% rise in total income to Rs 429.33 crore in Q2 September 2014 over Q2 September 2013.

Powered by Capital Market - Live News