Puravankara Limited saw a boost in its share price by over 2% after releasing its first-quarter results for FY25. The Bengaluru-based real estate company reported stable sales bookings but notable improvements in collections and delivery metrics.
Q1 FY25 Financial Highlights
- Sales Bookings: ₹1,128 crore, flat compared to the previous year’s quarter. The company attributed this to deferred launches planned for the second quarter.
- Quarterly Collections: Increased by 39% year-on-year to ₹965 crore, up from ₹696 crore in Q1 FY24.
- Revenue Recognized: ₹676 crore, driven by the delivery of 929 units, which is a 108% growth compared to last year.
Additional Insights
- Average Price Realization: ₹8,746 per square foot, marking a 6% increase from the previous year.
- Land Acquisition: The company invested ₹762 crore in acquiring land across Mumbai Metropolitan Region (MMR), Goa, and Bengaluru.
- Area Sold: 1.29 million square feet.
Market Performance
- Shares Trading: As of 10:10 AM, Puravankara’s shares were up by 2.02%, trading at ₹464.95 on the NSE.
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