Puravankara Q2 net drops 39 pc to Rs 21 cr

Realty firm Puravankara Ltd today reported a 39 per cent fall in its consolidated net profit at Rs 21.14 crore for the quarter ended September mainly due to land sale in the year-ago period.
Its net profit stood at Rs 34.62 crore in the same quarter of the previous fiscal.
Total income declined to Rs 371.53 crore in the second quarter of 2017-18 from Rs 392.57 crore in the corresponding period of the previous year.
"Our revenues are up 53 per cent, net of land sales of Rs 151 crore in the year-ago quarter. Sales bookings in terms of both volume and value as well as collections are significantly higher than the same quarter last year," Puravankara Ltd's MD Ashish R Puravankara told PTI.

With RERA and GST stabilising, he said the company has several exciting new launches in the pipeline in the near term across its markets.
"74 per cent YoY growth in the volume of sales bookings in sq ft during Q2 FY18 total booking value stood at Rs 438 crores, up 65 per cent. Q2, FY18 total booking volume 803,966 sq ft as compared to total booking volume of 4,60,000 sq ft in Q2 FY17," a company statement said.