Bengaluru: Puravankara Limited (BSE: 532891) disclosed its financial performance for the first quarter (Q1FY25) ending on June 30, 2024.
The company recorded a quarterly sales value of Rs 1,128 crore for Q1FY25, slightly higher than the Rs 1,126 crores in Q1FY24, as the scheduled product launches were postponed to Q2FY25. In Q1FY25, the company saw a 39 percent year-on-year increase in quarterly customer collections from the real estate business, reaching Rs 965 crores, compared to Rs 696 crores in Q1FY24. The average selling price rose by 6 pc year-on-year to Rs 8,746 per square foot. Income generated from projects reached Rs 676 crores, showing a 101 pc year-on-year increase.
Ashish Puravankara, Managing Director of Puravankara Limited, stated that the company's revenue increased to Rs 676 crores due to delivering 929 units, showing a 108 pc growth compared to the previous year, highlighting their dedication to operations. During the sale of 1.29 msft, our main priority was to restock our landbank. The company spent Rs 762 crores on acquiring land in MMR, Goa, and Bengaluru.
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