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Puravankara Ltd.

BSE: 532891 Sector: Infrastructure
NSE: PURVA ISIN Code: INE323I01011
BSE 11:02 | 16 Aug 100.90 -0.75
(-0.74%)
OPEN

99.70

HIGH

101.95

LOW

99.70

NSE 10:49 | 16 Aug 101.30
(%)
OPEN

102.40

HIGH

102.40

LOW

100.65

OPEN 99.70
PREVIOUS CLOSE 101.65
VOLUME 3649
52-Week high 166.35
52-Week low 77.90
P/E 14.41
Mkt Cap.(Rs cr) 2,393
Buy Price 101.05
Buy Qty 24.00
Sell Price 101.25
Sell Qty 25.00
OPEN 99.70
CLOSE 101.65
VOLUME 3649
52-Week high 166.35
52-Week low 77.90
P/E 14.41
Mkt Cap.(Rs cr) 2,393
Buy Price 101.05
Buy Qty 24.00
Sell Price 101.25
Sell Qty 25.00

Puravankara Ltd. (PURVA) - Chairman Speech

Company chairman speech

I extend my gratitude to the team for their quick learning and execution; amanifestation of their tremendous efforts was completing bookings 2576 units across ourvarious projects during 2020-21 compared to 2394 units in the previous financial year.

Dear stakeholders

It had been my honour and privilege to serve as Puravankara's Executive Director &Chairman of the Board for the past 35 years. My journey with Puravankara began 46 yearsago when I birthed the business with a small project in Mumbai. Even as a fledglingenterprise we always dreamed big worked hard and capitalised on opportunities. As ourbusiness grew from strength to strength the day we got listed on the prestigious Nationaland Bombay stock exchanges in 2007 changed my life forever.

Having steered Puravankara for such a long time I have seen it weather the ups anddowns of the business cycle always remaining steadfast and focused. We have facedeconomic recessions and industry downturns political upheaval as well as seasons ofprosperity and success. We have learned to evolve and adapt to meeting the market'schanging needs in all this time build endurance and longstanding market credibility inreal estate.

As the economy gradually transitions to normalcy demand for properties is positionedto remain resilient in the long-term

Our foresight during the economic crisis of 2007-08 led us to strategise and buildmid-income premium homes under the Provident brand which ensured that our Company carveda niche to maintain its relevance in a highly competitive and challenging market. In allthat we have gone through I am happy that the abundance of delightful moments and successthat we have experienced especially fulfilling the aspirations of our customerssignificantly outnumber the challenges and setbacks.

Our longstanding commitment to building a sustainable legacy and the communities we arehelping to shape has held this Company together through the good and difficult times. Iset out to educate each of my children in specific and diverse areas complementary to thebusiness to develop an enduring Company built for generations to come. My son Ashishjoined me in the year 2000 followed by my daughter Amanda. Today Puravankara is a highlyprofessionalised Company comprising hardworking people with a broad range of skillsexperiences and perspectives to make balanced and well-informed decisions that uphold ourvalues.

It is indisputable that the Covid-19 pandemic was a tremendous challenge that came ourway in 2020-21. However owing to our extensive industry experience we are attuned tochallenges and accustomed to disruptions. While the government-mandated movementrestrictions to curb the spread of the virus in late March 2020 were unprecedented wenavigated through this unfamiliar territory through a rapid re-pivot of our operations.Our objective was to ensure a business-as-usual approach in an environment that wasanything but usual. So while we continued to focus on new projects and sales we strivedto re-construct the customer experience and journey in the digital world.

I extend my gratitude to the team for their quick learning and execution; amanifestation of their tremendous efforts was completing bookings for 2576 units acrossour various projects during 2020-21 compared to 2394 units in the previous financialyear. This corresponded to sales of 3.43 msft (million sq. ft) for 2020-21 vs 2.83 msftof the last fiscal year thus increasing our sales value by an appreciable 28% to R2202cr. Paradoxically the business swivel resulted in an even more profound connect ourbrands created with homebuyers in a contactless world.

Over the near term a degree of uncertainty looms across household spending andinvestment as consumers focus on precautionary expenditures. Furthermore potentialdownside risks exist linked mainly to the possibility of re-imposition of lockdownmeasures to contain a probable third wave. Such restrictions can also elevate the risk ofcommodity supply shocks due to drawback in demand although the fiscal stimulus packagesand monetary policy actions are expected to support the output gap.

In terms of the market landscape property investment remains a solid hedge againstinflation. As the economy gradually transitions to normalcy demand for properties ispositioned to remain resilient in the long-term particularly for projects in attractivelocations with good transportation infrastructure and access to amenities.

Moreover stamp duty rebate on property registration announced by some states may alsoact as a catalyst for property demand.

Despite the ongoing headwinds Puravankara will continue to deliver sustainablefinancial performance in the current financial year. This confidence stems from the factthat our Company has built a credible and successful track record in property development.We have proven our resilience in delivering a sustainable performance through variouseconomic cycles. Amidst the weak economic conditions of today we will adopt a morecautious approach in the near term. We are confident of resuming our growth path when theeconomic recovery is back in full swing. Our long-term prospects remain intactunderscored by our proactive development strategies our experienced and dynamicmanagement team our established dual-brand foray in the luxury and premium affordableresidential housing segments our growing impact on new avenues like plotted developmentand commercial property our innovative product branding initiatives and ourstrategically prime land bank.

As I close this letter the Board and the management team of Puravankara pay tribute tothe unsung heroes of the pandemic. To the healthcare workers caring for Covid-19 patientsand the security forces helming containment efforts of the disease in the country wethank you sincerely for all the efforts you put in. The stress and risks you undertake incombating this pandemic have earned you our love and respect.

Our appreciation extends to Puravankara's stakeholders for their continuous support. Toour loyal shareholders we truly value your trust and conviction in us over the years. Oursincere gratitude to our staff customers bankers and financiers statutory bodiesbusiness associates and partners all of whom are essential components of our ongoingsuccess. My heartfelt appreciation to my fellow Board of

Directors whose dedication and wisdom bestowed to the Company is invaluable.

I urge you to stay safe and get vaccinated.

Best wishes

RAVI PURAVANKARA

.