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Puravankara's Q1 Sales Surge 28% Amid Strong Collections
13 Jul
Summary
- Pre-sales climbed 28% year-on-year to ₹1,439 crore in the April-June quarter.
- Company collections saw a 40% increase, reaching ₹1,199 crore.
- Average price realization grew 18% to ₹10,589 per sq ft.
Puravankara Ltd. announced a significant financial performance for the April-June quarter, with pre-sales increasing by 28% year-on-year to ₹1,439 crore. Collections demonstrated strong growth, rising 40% to ₹1,199 crore compared to the previous year. The average price realization also saw an 18% improvement, reaching ₹10,589 per square foot, indicating success in the company's strategic shift towards premium properties.
During the quarter, Puravankara handed over 745 homes and expanded its project pipeline by adding four land transactions. These acquisitions represent a cumulative Gross Development Value (GDV) of ₹5,200 crore, primarily in Bengaluru. Notable land deals include parcels in Sarjapur, Doddagubbi, near the Bengaluru airport, and Mandur, reinforcing the company's growth objectives.
Furthermore, Puravankara entered into an agreement to sell its commercial property, Purva Zentech, for an enterprise value of ₹625.94 crore. The company remains on track to meet its financial year 2026-27 sales guidance of ₹11,200 crore, with a continued focus on the Southern and Western regions of India.
