You are here: Home » Companies » News
Business Standard

Puravankara's sales bookings up 20% in Sep quarter to Rs 597 crore

Realty firm Puravankara Ltd's sales bookings grew by 20 per cent to Rs 597 crore during the second quarter of the fiscal on higher volumes and price realisation.


Press Trust of India  |  New Delhi 


Realty firm Ltd's sales bookings grew by 20 per cent to Rs 597 crore during the second quarter of the fiscal on higher volumes and price realisation.

In its investors presentation, the Bengaluru-based firm informed that the company's sales booking increased to Rs 597 crore during July-September quarter of 2021-22 fiscal from Rs 495 crore in the previous year.

Its sales realisation went up by 11 per cent to Rs 6,556 per square feet from Rs 5,898 per square feet.

In volume terms, sales bookings increased by 8 per cent to 0.91 million square feet during July-September quarter of this fiscal from 0.84 million square feet in the year-ago period.

During the first six months of the fiscal, sales bookings rose 2 per cent to Rs 910 crore from Rs 893 crore in the corresponding period of the previous year.

Sales volume dipped to 1.33 million square feet from 1.53 million square feet, but price realisation increased 17 per cent to Rs 6,845 from Rs 5,839 per square feet.

"Despite subdued Q1 (first quarter) performances, Q2 (second quarter) sales performances continues to drive H1 (first half of fiscal) sales," said, adding that the growth momentum would continue in the second half of this fiscal year.

Sales in the first quarter of this fiscal was low due to an adverse impact of the COVID-19 pandemic.

On Friday, reported a consolidated net profit at Rs 12.13 crore for the quarter ended September and announced plans to raise Rs 180 crore through issue of debentures. The company had posted a net loss of Rs 9.81 crore in the year-ago period.

Total income rose to Rs 272.15 crore in the second quarter of the current fiscal from Rs 220.07 crore in the corresponding period of the previous year.

The board also approved the issue of fully secured, unlisted, rated, non-convertible debentures via private placement. The size of the issue is Rs 180 crore in one or more tranches.

Ashish R Puravankara, Managing Director, Puravankara Ltd, said, The residential sector continues to witness strong demand on the back of India's economic revival, post the second wave of the pandemic. We see polarisation in demand among the top developers."

With the steady rise in homeownership as an aspiration aided by low-interest rates, he said the company is optimistic about the sector outlook.

Puravankara Ltd is developing multiple projects in South and West India.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, November 13 2021. 17:18 IST