Puravankara Sees Significant Growth in Q1 FY25 with Rs 14.78 Crore Profit
Puravankara's impressive Q1 FY25 results, Bengaluru-based real estate developer, Ashish Puravankara
PuravankaraReal EstateQ1 Fy25BengaluruAshish PuravankaraReal Estate NewsJul 31, 2024
The company's net consolidated total income stood at Rs 675.55 crore in Q1 FY25, a growth of 101.17 per cent from Rs 335.81 crore it recorded in the similar quarter last year. This growth can be attributed to the higher delivery of 929 units, a 108% growth over last year's delivery.
Ashish Puravankara, Managing Director of the company, said, 'The revenue recognised went up to Rs 676 crores on account of higher delivery of units. While the company sold 1.29 million sq ft, our focus was on replenishing our landbank. The company deployed Rs 762 crore for land acquisition in MMR, Goa, and Bengaluru.'
During the quarter ended June 30, 2024, Grand Hills Developers, a wholly-owned subsidiary of the company, has issued 25,500 listed, secured, rated, redeemable, non-convertible debentures aggregating to Rs. 255 crore.
The company achieved quarterly sales value of Rs 1,128 crore for Q1 FY25, as the planned launches were deferred to Q2 FY25. It 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 per cent year-on-year.
The net debt stood at Rs 2,237 crore for Q1 FY25.Puravankara is a well-established real estate developer in Bengaluru, known for its luxurious residential projects.
Frequently Asked Questions
What is Puravankara's net consolidated profit after tax in Q1 FY25?
Rs 14.78 crore
What is the growth percentage of Puravankara's net consolidated total income in Q1 FY25?
101.17 per cent
How many units did Puravankara deliver in Q1 FY25?
929 units
What is the amount deployed by Puravankara for land acquisition in MMR, Goa, and Bengaluru?
Rs 762 crore
What is the net debt of Puravankara for Q1 FY25?
Rs 2,237 crore
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