Puravankara Limited has achieved quarterly sales value of INR 1,128 crore for Q1FY25 in sustenance vs INR 1,126 crore in Q1FY24, as the planned launches were deferred to Q2FY25.
The company also achieved quarterly customer collections from the real estate business of INR 965 crore in Q1FY25 compared to INR 696 crore in Q1FY24, up by 39% Y-o-Y. Average price realisation increased by 6% Y-o-Y to INR 8,746/sft. Revenue from projects stood at INR 676 crore (+101% Y-o-Y).
Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, “The revenue recognised went up to INR 676 crores on account of higher delivery of 929 units, a 108% growth over last year’s delivery, demonstrating our commitment and focus on operations. While the company sold 1.29 msft, our focus was on replenishing our landbank. The company deployed INR 762 crores for land acquisition in MMR, Goa and Bengaluru.”
Highlights
Operational Highlights for Q1FY25
Sales value stood at INR 1,128 crore
Average price realisation stood at INR 8,746/sft
1.16 msft delivered in Q1FY25 compared to 0.49 msft in Q1FY24
Consolidated Q1FY25 Financial Performance
Revenue from projects stood at INR 676 crores (+101% Y-o-Y)
EBITDA stood at Rs 148 crores (96 % Y-o-Y)
Profit of INR 15 crores as compared to a loss of INR 17 crores in Q1FY24
Debt
The net debt stood at INR 2,237 crore for Q1FY25
Sales value includes taxes and includes economic interest attributable to Landowners under revenue share arrangement, which was 0.05 msft during Q1FY25 and 0.14 msft during Q1FY24. Customer Collection includes taxes.
Outlook
The Indian real estate sector is poised for robust growth in FY25, driven by the country’s strong economic performance and rising demand across residential, commercial, and industrial segments. The IMF has revised India’s GDP forecast to 7% from 6.8% for FY25. Increased urbanization, infrastructure development, and favourable government policies are boosting homebuyers confidence. The residential sector is witnessing a continued surge in demand. Overall inventory overhang has reduced from 3.7 years (2017) to 1.3 years (Q1 CY 2024). Puravankara is expected to experience sustained growth, in line with the sector, supported by a conducive economic environment and evolving consumer preferences.
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