Puravankara record Q3 sales of Rs 1,241 crore a 56% jump
Puravankara has reported a sales value of Rs 1,241 crore for Q3FY24, a significant surge from the Rs 796 crore noted in the corresponding quarter of the prior fiscal year.
Puravankara highlighted its record customer collections in Q3 FY24, reaching Rs 941 crores, marking a 52% year-on-year increase from Rs 621 crores in Q3 FY23.
Ashish Puravankara, Managing Director, Puravankara Ltd., said, “The first nine months of FY24 has seen exceptional pre-sales, marking a strong growth of 89 percent Y-o-Y growth.
The successful launch of two new projects and a promising pipeline of upcoming launches shows our confidence in sustaining this positive momentum. Our focus on efficiency and prompt execution has contributed to these impressive pre-sales and collection numbers.”
In 9MFY24, the company demonstrated robust sales, achieving a sales value of Rs 3,967 crores—a notable 89% rise from Rs 2,100 crores in the same period of the previous fiscal year.
Customer collections during this timeframe surged to Rs 2,515 crores, reflecting a substantial 57% year-on-year increase from Rs 1,597 crores in 9MFY23.
“Achieving our highest-ever collection is a testament to our significant progress in construction while affirming our commitment to excellence in quality”, he said.
Following a 56% surge in Q3 sales value, Puravankara's shares experienced a significant uptick of 10.5%, reaching a 52-week high of Rs 244.10.
As of 10:42 am, the company's shares were actively traded at Rs 237 on the NSE.
As of September 30, 2023, Puravankara has completed 80+ projects measuring 46 million sq ft across 9 cities: Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is 41 msft, and ongoing
