Puravankara Reports Q2 FY24 Net Loss of INR 11.22 Cr

15 Nov 2023 CW Team

The Q2 FY24 net loss of INR 11.22 crore is a significant decline compared to the previous year's corresponding quarter. During the same period in FY23, Puravankara had reported a net profit of INR 7.25 crore. The company's revenue for Q2 FY24 also witnessed a decline, amounting to INR 171.29 crore compared to INR 203.99 crore in Q2 FY23.

The adverse impact on Puravankara's financials can be attributed to multiple factors, including the economic slowdown, delays in project completion, and disruptions caused by the COVID-19 pandemic. The real estate sector has been grappling with subdued demand and liquidity issues for the past few years, and these challenges have intensified further due to the pandemic.

Despite the challenging market conditions, Puravankara remains optimistic about its future prospects. The company is focused on implementing strategic measures to enhance its operational efficiency, reduce costs, and strengthen its project delivery capabilities. Puravankara is also actively exploring opportunities to diversify its revenue streams and expand its presence in new markets.

In addition, the real estate developer is actively engaged in launching new projects and driving sales through innovative marketing strategies. Puravankara aims to leverage technology and digital platforms to connect with buyers and improve customer experience.

Puravankara's Chairman and Managing Director, Ravi Puravankara, expressed confidence in the company's resilience and ability to navigate through the current economic downturn. He highlighted the importance of adapting to changing market dynamics and leveraging technology to stay competitive in the real estate industry.

It is worth noting that Puravankara has a robust project pipeline and a strong reputation for delivering quality residential and commercial properties. The company has successfully completed several landmark projects across major cities in India.

In conclusion, Puravankara's Q2 FY24 financial results reflect the challenging landscape of the real estate sector amid the economic slowdown and the COVID-19 pandemic. However, with its strategic initiatives and focus on operational efficiency, the company aims to overcome these challenges and drive sustainable growth in the coming quarters.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Puravankara Ltd., a leading real estate developer in India, has announced a net loss of INR 11.22 crore for the second quarter (Q2) of the financial year 2023-24 (FY24). The company's financials were affected by the ongoing challenges in the real estate sector. The Q2 FY24 net loss of INR 11.22 crore is a significant decline compared to the previous year's corresponding quarter. During the same period in FY23, Puravankara had reported a net profit of INR 7.25 crore. The company's revenue for Q2 FY24 also witnessed a decline, amounting to INR 171.29 crore compared to INR 203.99 crore in Q2 FY23. The adverse impact on Puravankara's financials can be attributed to multiple factors, including the economic slowdown, delays in project completion, and disruptions caused by the COVID-19 pandemic. The real estate sector has been grappling with subdued demand and liquidity issues for the past few years, and these challenges have intensified further due to the pandemic. Despite the challenging market conditions, Puravankara remains optimistic about its future prospects. The company is focused on implementing strategic measures to enhance its operational efficiency, reduce costs, and strengthen its project delivery capabilities. Puravankara is also actively exploring opportunities to diversify its revenue streams and expand its presence in new markets. In addition, the real estate developer is actively engaged in launching new projects and driving sales through innovative marketing strategies. Puravankara aims to leverage technology and digital platforms to connect with buyers and improve customer experience. Puravankara's Chairman and Managing Director, Ravi Puravankara, expressed confidence in the company's resilience and ability to navigate through the current economic downturn. He highlighted the importance of adapting to changing market dynamics and leveraging technology to stay competitive in the real estate industry. It is worth noting that Puravankara has a robust project pipeline and a strong reputation for delivering quality residential and commercial properties. The company has successfully completed several landmark projects across major cities in India. In conclusion, Puravankara's Q2 FY24 financial results reflect the challenging landscape of the real estate sector amid the economic slowdown and the COVID-19 pandemic. However, with its strategic initiatives and focus on operational efficiency, the company aims to overcome these challenges and drive sustainable growth in the coming quarters.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..