Puravankara Limited shares surged over 10% on Wednesday after the company released a strong business update for the third quarter, reflecting healthy demand momentum and improved pricing across key markets.
The rally in the stock came as the real estate developer reported robust growth in both sales and collections during the quarter, underlining sustained buyer interest despite a challenging macro environment. Pre-sales for Q3 stood at ₹1,414 crore, marking a 17% year-on-year increase, while the sales value rose 10% on a yearly basis and 7% sequentially to the same level of ₹1,414 crore.
Collections during the quarter also remained strong, rising 22% year-on-year and 9% quarter-on-quarter to ₹1,140 crore. This improvement in cash flows highlights better project execution and faster customer collections, which are critical indicators of operational strength for real estate companies.
In terms of volume, the total sales area reached 1.49 million square feet. This represented a 4% increase compared to the same period last year, though it was marginally lower by 1% on a quarter-on-quarter basis.
Average realisation for the quarter climbed to ₹9,500 per square foot, reflecting a 12% year-on-year rise and an 8% increase over the previous quarter.
