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The company achieved a sale value of Rs 3,724 crores during the nine month period of FY25. The customer collections stood at Rs 993 crores in Q3 FY25, up 6% YoY. For 9M FY25, customer collections increased to Rs 2,991 crores, up by 19% compared to Rs 2,515 crores for 9M FY24. Average price realisation increased by 16% to Rs 8,848/sft during Q3 FY25 from Rs 7,621/sft in Q3 FY24. Ashish Puravankara, managing director, Puravankara, said, 'The growth in collections is a clear reflection of our strong operational efficiency. In 9M FY25, we achieved collections of Rs 2,991 crore, a 19% YoY increase, with Rs 993 crore in Q3 FY25, a 6% increase YoY. Pre-sales for Q3 FY25 reached Rs 1,265 crore, up by 2% YoY. Keeping in line with our acquisition strategy and our growth plans for the current and next financial year, we have invested approximately Rs 1,100 crore this fiscal, adding a potential GDV of around Rs 10,500 crore. This includes our most recent acquisition in Kanakapura Road, Bengaluru.' On outlook front, the firm stated that the foreign equity investments in real estate reached an all-time high of $11.4 billion in 2024. Additionally, the absorption of over 70 million square feet of office space in CY24 across six major cities underscores strong commercial demand driven by GCCs and an expected increase in hiring. While downward revision of advance estimates for FY25 indicates GDP growth of 6.4%, this slowdown is seen as temporary, with India's economic fundamentals remaining strong. In the upcoming budget, increased government spending on infrastructure, tax reform, incentives to spur private investments, and FDI in manufacturing are expected to boost the economy. Puravankara added that it is strategically positioned to increase its market share in a growing and consolidating real estate market. While delays in approvals have led to fewer launches in 9M FY25, the company plans to catch up with its launch pipeline of 15.70 million sq. ft between Q4 FY25 and Q1 FY26. The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brands'Purva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune. The company reported consolidated net loss of Rs 17.06 crore in Q2 FY25 as against net loss of Rs 11.22 crore posted in Q2 FY24. However, revenue from operations jumped 34.53% to Rs 495.54 crore in the September 2024 quarter. The scrip slipped 6.90% to currently trade at Rs 333.70 on the BSE. Powered by Capital Market - Live News |