Puravankara acquires a 12.77-acre land parcel at Ghodbunder Road in Thane, MMR, with a total potential carpet area of 1.82 msft, a 7.26-acre land parcel at Electronics City (Hebbagodi) in Bengaluru with a potential carpet area of 0.60 msft along with the landowner share of 0.83 msft saleable area in three projects by Provident in Goa and Bengaluru.
Puravankara 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 per cent y-o-y. Achieved quarterly sales value of INR 1,128 crore for Q1FY25 in sustenance; vs INR 1,126 crores in Q1FY24, while the planned launches were deferred to Q2FY25.
Average price realisation in Q1FY25 increased to INR 8,746/sft, up by 6 per cent from INR 8,277/sft in Q1FY24.
Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, “We remain focused on replenishing our land bank and have added 3.25 msft in this quarter, comprising of a 7.26-acre land parcel in Bengaluru, a 12.77-acre land parcel in Ghodbunder road, Thane and have also bought out the landowner share of 0.83 msft in three projects by Provident in Goa and Bengaluru. This quarter, we have achieved collections of INR 965 crores and pre-sales of INR 1,128 crores from sustenance sales. We will continue to focus on ensuring our planned launches for FY25.”
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.
Track2Realty is an independent media group managed by a consortium of journalists. Starting as the first e-newspaper in the Indian real estate sector in 2011, the group has today evolved as a think-tank on the sector with specialized research reports and rating & ranking. We are editorially independent and free from commercial bias and/or influenced by investors or shareholders. Our editorial team has no clash of interest in practicing high quality journalism that is free, frank & fearless.
Subscribe our YouTube Channel @ https://bit.ly/2tDugGl
