August 1, 2024: Puravankara today announced its financial results for the first quarter of fiscal year 2024-25 (Q1 FY25) ending June 30, 2024. The company achieved quarterly sales value of Rs 1,128 crore for Q1 FY25 in sustenance as against Rs 1,126 crore in Q1 FY24, as the planned launches were deferred to Q2 FY25. The company also achieved quarterly customer collections from the real estate business of Rs 965 crore in Q1 FY25 compared to Rs 696 crore in Q1 FY24, up by 39% year-on-year (YoY). Average price realisation increased by 6% YoY to Rs 8,746/sqft. Revenue from projects stood at Rs 676 crore, up by +101% YoY.
Puravankara delivered a total of 1.16 million square foot (msf) in Q1 FY25 as compared to 0.49 msf in Q1 FY24. At the end of Q1 FY25, the company’s EBITDA stood at Rs 148 crore, up by 96% YoY. Moreover, it recorded a profit of Rs 15 crore in Q1 FY25 as compared to a loss of Rs 17 crore witnessed in Q1 FY24. The net debt stood at Rs 2,237 crore for Q1 FY25.
Ashish Puravankara, managing director, Puravankara, said, “The revenue recognised went up to Rs 676 crore on account of higher delivery of 929 units, a 108% growth over last year’s delivery. While the company sold 1.29 msf, our focus was on replenishing our landbank. The company deployed Rs 762 crore for land acquisition in MMR, Goa and Bangalore.”
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