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Updated January 10th, 2024 at 16:22 IST

Puravankara achieves record pre-sales, reports highest-ever collections in 9MFY24

The launch of two new projects, Provident Deansgate in Bengaluru and Purva Soukhyam in Chennai, contributes to the company's continued growth and expansion.

Business Desk
Puravankara bags key redevelopment projects in Mumbai
Puravankara | Image:Puravankara
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Purvankara pre-sales: Real estate giant Puravankara Limited showcases robust performance with a sales value of Rs 3,967 crore in 9MFY24, marking an impressive 89 per cent YoY growth compared to Rs 2,100 crore in 9MFY23. The company's dedication to excellence is further highlighted by the highest-ever collections of Rs 2,515 crore in 9MFY24 and Rs 941 crore for Q3FY24.

Commenting on this exceptional performance, Ashish Puravankara, Managing Director of Puravankara Ltd, attributes the success to significant progress in construction and a steadfast commitment to quality. The launch of two new projects and a promising pipeline of upcoming launches reflect the company's confidence in sustaining positive momentum.

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Amid India's status as the world's fastest-growing major economy, Puravankara benefits from the surge in demand for quality residential real estate. The positive economic conditions, coupled with customer-centric strategies and a commitment to high-quality standards, position the company optimistically to maintain its sales momentum.

Highlights

  • Sales value reaches Rs 3,967 crore in 9MFY24, an 89 per cent increase from Rs 2,100 crore in 9MFY23.
  • Q3FY24 sees a sales value of Rs 1,241 crore, up by 56 per cent compared to Rs 796 crore in Q3FY23.
  • Customer collections for 9MFY24 surge to Rs 2,515 crore, reflecting a 57 per cent YoY increase.
  • Highest-ever customer collections in Q3FY24, reaching Rs 941 crore, up by 52 per cent YoY.

Despite an average price realisation decrease of 2 per cent to Rs 7,610 per square foot during Q3FY24, attributed to an inventory mix between Purva, Provident Housing, and Purva Land brands, Puravankara remains optimistic about maintaining its sales momentum. The launch of two new projects, Provident Deansgate in Bengaluru and Purva Soukhyam in Chennai, contributes to the company's continued growth and expansion.

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Published January 10th, 2024 at 16:22 IST

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