Puravankara Ltd Achieves Record Sales; Shares Surge

5 Apr 2024 , 02:50 PM

Puravankara Ltd’s shares opened 6.13% higher at ₹245 following the company’s announcement of its highest-ever quarterly and annual sales. At the time of wriitng, Puravankara’s shares were trading 4% higher at ₹240. Over the past six months, the stock has surged by 90%.

In FY24, Puravankara recorded a 90% year-on-year increase in sales, reaching ₹5,914 Crore. Sales for the quarter ending March rose by 93% year-on-year to ₹1,947 Crore.

The company achieved its highest-ever annual customer collections from the real estate business, witnessing a 60% year-on-year increase to ₹3,609 Crores in FY24.

Average price realization in FY24 increased by 2% to ₹7,916 per square foot from ₹7,768 per square foot in FY23, attributed to an inventory mix between Purva, Provident Housing, and Purva Land brands.

Managing Director Ashish Puravankara expressed pride in surpassing the Rs. 5,900 Crore sales milestone, highlighting the company’s customer-centric approach and quality focus.

The collection of ₹3,609 Crore for FY24 reflects Puravankara’s dedication to operations and delivery, fostering increased trust in the brand among customers.

For feedback and suggestions, write to us at [e-mail]