Puravankara Records 18% Growth in Sales to Rs 1,331 Crore in Q2FY25

Bengaluru / October 10: Puravankara Limited recorded sales of Rs 1,331 crore for Q2FY25, compared to Rs 1,128 crore in Q1FY25, up by 18%. The company also achieved a sale value of Rs 2,459 crore in H1FY25, Puravankara said in a statement. 

Customer collections reached Rs 1,033 crores in Q2FY25 compared to Rs 879 crores in Q2FY24, up by 18% y-o-y. For H1FY25, customer collections increased to Rs 1,998 crores, up by 27% compared to Rs 1,575 crores for H1FY24.

Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, “In Q2FY25, we have achieved collections of Rs 1,033 crores and pre-sales of Rs 1,331 crores mostly from sustenance sales. Our performance continues to reflect robust housing demand across key markets, driven by our strategic focus on customer-centric offerings and operational efficiencies. In the first half of the fiscal, we witnessed sustained traction across our portfolio and continued to replenish our land bank by acquiring over 5.75 msft of saleable area in Mumbai, Bengaluru and Goa with a total potential GDV of around Rs 10,000 crores plus in this financial year. We remain confident in maintaining this growth momentum as we prepare for the festive season, with over 12 msft of new launches for the second half of the financial year with a potential GDV of over Rs 13,000 crore.”

In Q2FY25, Puravankara achieved customer collections of Rs 1,033 crores from its real estate business, marking an 18% year-on-year increase compared to Rs 879 crores in Q2FY24. For the first half of FY25, the company collected Rs 1,998 crores, a 27% rise from Rs 1,575 crores in H1FY24. The quarterly sales value for Q2FY25 reached Rs 1,331 crores, an 18% increase from Rs 1,128 crores in Q1FY25, contributing to a total of Rs 2,459 crores for H1FY25. The average price realization in Q2FY25 increased by 9% to Rs 8,697 per square foot, up from Rs 7,947 per square foot in Q2FY24. Additionally, Puravankara acquired redevelopment rights for Miami Apartments at Breach Candy, entering the luxury South Mumbai market with a potential gross development value (GDV) of Rs 700 crores, the statement added. 

Additionally, the company expanded its footprint in Lokhandwala, Andheri West, adding a new cluster of four societies (potential GDV of Rs 700 crores) to its existing redevelopment projects, bringing the total land area in the region to around 4.3 acres with a combined potential GDV of Rs 2,350 crore for the project. The company has signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel at a prime location in the Electronics City micro-market. This land parcel, adjacent to the Purva Westend project, will have a saleable area of 2.6 lakh sft with a potential GDV of Rs 250 crores, the statement said.