Puravankara achieves highest ever annual and quarterly sales

14 Apr 2023 CW Team

Puravankara, a real estate firm, has achieved its highest annual and quarterly sales in any fiscal year since its inception. The company sold Rs. 1,007 crore in Q4 and a total of Rs. 3,107 crore in FY23.

"The company has consistently grown during FY23, indicating our ongoing efforts to gain market share." "We expect our pre-sales growth momentum to continue in the coming quarters, driven by a healthy pipeline of new launches totaling 14 million sqft," said Ashish Puravankara, Managing Director.

In addition, the company reported a 57% increase in customer collections from the real estate business, which increased to Rs. 2,258 crore in FY23 from Rs. 1,440 crore in FY22. The average price realization also increased by 14% to Rs. 7,768 per sqft during FY23 from 6,838 per se ft in FY22.

According to industry experts, the unchanged repo rates will support the current growth momentum, with large builders potentially gaining market share. The top seven markets had the highest quarterly sales in more than ten years. According to ICRA, the area sold in 9M FY2023 increased to 412 msf from 307 msf in the same period the previous year, owing to continued end-user demand and good affordability.

Puravankara's total net debt was Rs 2,135 crore as of December 31, 2022, with a weighted average cost of debt of 11.18%. The company has a total land bank of 57 million square feet.

Also Read
Housing inventory overhang lowest in 5 years due to robust sales
Tamil Nadu: TNUHDB unveils new housing development

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..