Puravankara reports net profit of Rs 15 crore for Q1 FY25
Puravankara Limited recorded a net profit of Rs 15 crore for the first quarter of FY2025 as compared to a loss of Rs 17 crore during the same period last year.
The revenue for the first quarter ending June 30, 2024 stood at Rs 676 crore a 101 percentage growth Y-o-Y with an EBITDA at Rs 148 crores, a 96% y-oy increase.
The company achieved a quarterly sales value marginally increase of 0.17 percent to Rs 1,128 crore for Q1FY25 as the planned launches were deferred to Q2FY25.
“ The revenue recognised went 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 Rs 7 62 crores for land acquisition in MMR, Goa and Bengalur. While the company sold 1.29 msft, our focus was on replenishing our landbank.
The company deployed Rs 762 crore for land acquisition in MMR, Goa and Bengaluru,” said Ashish Puravankara, Managing Director, Puravankara Limited.
The company also achieved quarterly customer collections from the real estate business of Rs 965 crores in Q1FY2025 compared to Rs 696 crores in Q1FY2024, up by 39 per cent y-o-y.
Average price realisation increased by 6% y-o-y to Rs 8,746 per sqft. Revenue from projects stood at Rs 676 crore, over 101% annual jump. The company delivered 1.16 msft in Q1FY25 compared to 0.49 msft in Q1FY24
The net debt stood at Rs 2,237 crore for April-June quarter of the current fiscal..
The Indian real estate sector is poised for robust growth in FY25, driven by
