New Launch10 Oct 2024, 04:01 pm
Puravankara Ltd Records 27% Y-o-Y Increase in H1FY25 Customer Collections
AI Summary
Puravankara Ltd, one of India's most trusted real estate developers, reported sales of Rs 1,331 crore for Q2FY25 and Rs 2,459 crore for H1FY25. Customer collections reached Rs 1,033 crores in Q2FY25, a 27% increase compared to H1FY24. The company also acquired over 5.75 msft of saleable area in Mumbai, Bengaluru, and Goa with a potential GDV of around Rs 10,000 crores in FY25. Puravankara plans to launch over 12 msft of new projects in the second half of FY25 with a potential GDV of over Rs 13,000 crores.
Key Highlights
- Customer collections in H1FY25 increased by 27% y-o-y to Rs 1,998 crores.
- Quarterly sales value for Q2FY25 was Rs 1,331 crores, a 18% increase Q-o-Q.
- Average price realisation in Q2FY25 increased by 9% to Rs 8,697 /sft.
- Puravankara acquired redevelopment rights for Miami Apartments in South Mumbai with a potential GDV of Rs 700 crores.
- The company expanded its footprint in Lokhandwala, Andheri West, adding a new cluster of four societies with a potential GDV of Rs 700 crores.