Puravankara Q1FY25 Pre-sales at Rs 1128 cr, Collections Up 39% YoY, Acquisition of 3.25 mn sq ft, Average price realisation up 6%

July 12, 2024: Purvankara released its Q1FY25 operational updates on Friday. During the period it acquired 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.

The quarterly customer collections* from the real estate business stood at Rs 965 crores in Q1FY25 compared to Rs 696 crores in Q1FY24, up by 39 per cent y-o-y.

Quarterly sales value* was at Rs 1,128 crore for Q1FY25 in sustenance; vs Rs 1,126 crores in Q1FY24, while the planned launches were deferred to Q2FY25.

Average price realisation in Q1FY25 increased to Rs. 8,746/sft, up by 6 per cent from Rs 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 Rs 965 crores and pre-sales of Rs 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.