Flat Sales for Puravankara Despite Strong Housing Demand in Q1 FY25
Puravankara real estate sales bookings housing demand Q1 FY25 Bengaluru Thane Mumbai Electronics City Goa
PuravankaraReal EstateSales BookingsHousing DemandQ1 Fy25BengaluruThaneMumbaiElectronics CityGoaReal Estate MumbaiJul 12, 2024
According to a regulatory filing, Puravankara achieved a quarterly sales value of Rs 1,128 crore for Q1 (April-June), 2024-25 fiscal, which is almost the same as the Rs 1,126 crore reported in the same period last year. The company has planned to launch new projects in Q2 (July-September), which is expected to boost its sales in the coming months.
On a positive note, the average price realization increased to Rs 8,746 per sq ft during the first quarter of 2024-25, up 6% from Rs 8,277 per sq ft in the year-ago period. This indicates a growing demand for housing units in the country.
In terms of new acquisitions, Puravankara has purchased a 12.77-acre land parcel at Ghodbunder Road in Thane, Mumbai Metropolitan Region (MMR), with a total potential carpet area of 1.82 million sq ft. Additionally, it has acquired a 7.26-acre land parcel at Electronics City (Hebbagodi) in Bengaluru with a potential carpet area of 0.60 million sq ft. The company has also purchased the landowner share of 0.83 million sq ft saleable area in three projects in Goa and Bengaluru.
Information
Puravankara Ltd is a leading real estate developer in India, with a significant presence in South and West India. The company is mainly focused on the housing segment and has a reputation for delivering quality projects.
Puravankara Ltd is a well-established real estate developer in India, known for its commitment to quality and customer satisfaction. With a presence in multiple cities across South and West India, the company has been consistently delivering quality housing projects that meet the evolving needs of homebuyers.
Frequently Asked Questions
What was Puravankara's sales bookings in Q1 FY25?
Rs 1,128 crore
Why did Puravankara's sales remain flat in Q1 FY25?
The company deferred new supply, which led to flat sales bookings.
What was the average price realization for Puravankara in Q1 FY25?
Rs 8,746 per sq ft, up 6% from Rs 8,277 per sq ft in the year-ago period.
What new acquisitions did Puravankara make in Q1 FY25?
The company acquired land parcels in Thane, Mumbai Metropolitan Region (MMR), Electronics City (Hebbagodi) in Bengaluru, and three projects in Goa and Bengaluru.
What is Puravankara's focus area in the real estate sector?
The company is mainly focused on the housing segment.
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