Puravankara records 20% surge in sales bookings at Rs 597 cr in Q2
Real Estate

Puravankara records 20% surge in sales bookings at Rs 597 cr in Q2

Real estate company Puravankara Limited's sales bookings increased by 20% to Rs 597 crore during the second quarter of the financial year on higher volumes and cost realisation.

In its investor's presentation, the Bengaluru-based company notified that the firm's sales bookings grew to Rs 597 crore during the July-September quarter of 2021-22 fiscal from Rs 495 crore in the previous year.

Its sales realisation increased by 11% to Rs 6,556 per sq ft from Rs 5,898 per sq ft.

In volume terms, sales bookings rose by 8% to 0.91 million sq ft during the July-September quarter of this financial year from 0.84 million sq ft in the year-ago period.

During the first six months of the fiscal, sales bookings grew 2% to Rs 910 crore from Rs 893 crore in a similar period of the preceding year.

Sales volume dropped to 1.33 million sq ft from 1.53 million sq ft, but cost realisation grew 17% to Rs 6,845 from Rs 5,839 per sq ft.

Despite subdued Q1 performances, Q2 sales performances continue to push H1 sales, Puravankara said, adding that the growth momentum would proceed in the second half of this fiscal year.

Sales in the first quarter of this financial year were low due to an unfavourable impact of the Covid-19 pandemic.

On Friday, Puravankara recorded a consolidated net profit at Rs 12.13 crore for the quarter ended September and declared plans to raise Rs 180 crore through the issue of debentures. The firm had registered a net loss of Rs 9.81 crore in the previous year period.

Total income increased to Rs 272.15 crore in the second quarter of the current financial year from Rs 220.07 crore in a similar period of the preceding year.

The board additionally permitted the issue of completely secured, unregistered, rated, non-convertible debentures through private placement. The issue size is Rs 180 crore in one or more tranches.

Managing Director, Puravankara Limited, Ashish R Puravankara, told the media that the residential sector continues to observe strong demand on the back of India's economic recovery post the second wave of the pandemic.

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Also read: Mindspace REIT reports 6.7% YoY jump in income at Rs 359.20 cr

Real estate company Puravankara Limited's sales bookings increased by 20% to Rs 597 crore during the second quarter of the financial year on higher volumes and cost realisation. In its investor's presentation, the Bengaluru-based company notified that the firm's sales bookings grew to Rs 597 crore during the July-September quarter of 2021-22 fiscal from Rs 495 crore in the previous year. Its sales realisation increased by 11% to Rs 6,556 per sq ft from Rs 5,898 per sq ft. In volume terms, sales bookings rose by 8% to 0.91 million sq ft during the July-September quarter of this financial year from 0.84 million sq ft in the year-ago period. During the first six months of the fiscal, sales bookings grew 2% to Rs 910 crore from Rs 893 crore in a similar period of the preceding year. Sales volume dropped to 1.33 million sq ft from 1.53 million sq ft, but cost realisation grew 17% to Rs 6,845 from Rs 5,839 per sq ft. Despite subdued Q1 performances, Q2 sales performances continue to push H1 sales, Puravankara said, adding that the growth momentum would proceed in the second half of this fiscal year. Sales in the first quarter of this financial year were low due to an unfavourable impact of the Covid-19 pandemic. On Friday, Puravankara recorded a consolidated net profit at Rs 12.13 crore for the quarter ended September and declared plans to raise Rs 180 crore through the issue of debentures. The firm had registered a net loss of Rs 9.81 crore in the previous year period. Total income increased to Rs 272.15 crore in the second quarter of the current financial year from Rs 220.07 crore in a similar period of the preceding year. The board additionally permitted the issue of completely secured, unregistered, rated, non-convertible debentures through private placement. The issue size is Rs 180 crore in one or more tranches. Managing Director, Puravankara Limited, Ashish R Puravankara, told the media that the residential sector continues to observe strong demand on the back of India's economic recovery post the second wave of the pandemic. Image Source Also read: Mindspace REIT reports 6.7% YoY jump in income at Rs 359.20 cr

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