Puravankara Limited, on April 12, 2023, announced the key operational updates for Q4 FY23 and FY23. The real estate firm recorded its highest ever annual sales value of Rs. 3,107 crore in FY23, marking a YoY increase of 29%. The sales value for Q4 FY23 stood at Rs 1,007 crore, showing an YoY increase of 21%.
The customer collections grew by 57% from Rs 1,440 crore in FY22 to Rs 2,258 crore in FY23. The average price realization increased by 14% to Rs 7,768/sq ft during FY23 from 6,838/sq ft in FY22. Additionally, the company launched nine new projects with a total saleable area of 6.04 msf in the previous financial year. These include two new projects launched in the fourth quarter of FY23.
Ashish Puravankara, managing director, Puravankara Group, said, “We have achieved the highest ever annual and quarterly sales of any financial year since inception, with Q4 sales of Rs 1,007 crore and FY23 sales at a record high of Rs 3,107 crore. The company has consistently experienced growth during FY23, indicating our sustained efforts towards gaining market share. Despite maintaining a strong pace of sales growth, our unwavering commitment to execution, prompt delivery, and customer satisfaction remains at the forefront of our priorities. We expect our pre-sales growth momentum to continue, driven by a healthy pipeline of new launches of 14 msf in coming quarters.”
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