Puravankara has reported net consolidated loss after tax of Rs 17.06 crore in the quarter ended September 30, 2024. It had registered loss after tax of Rs 11.22 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 519.68 crore in Q2 FY25, a growth of 36.20 per cent from Rs 381.57 crore it recorded in the similar quarter last year.
Ashish Puravankara, managing director of the company said, “Increased sustenance sales for H1FY25 of 14% year-on-year, along with increased price realisation in Q2 FY25 for Purva by 17% and Provident by 15% year-on-year, showcases the strength of the brand. In the coming two quarters, the company is focused on new launches amounting to around 12.27 million sq ft with a potential GDV of around Rs 13,625 crore and project deliveries for the remaining two quarters.”For H1FY25, total revenue from projects stood at Rs 1,195 crore for H1 FY25, up by 67% from Rs 717 crore in H1 FY24. Customer collections increased by 27% to Rs 1,999 crore, indicating improving operating efficiency. For the first half of the fiscal, sales volume stood at 2.84 million sq ft and sales value at Rs 2,459 crore.
Around Rs 945 crore has been invested in land, with a potential gross development value (GDV) of Rs 9,700 crore from 5.8 million sq ft of new acquisitions.
Net debt stood at Rs 2,430 crores, and the net debt-to-equity ratio stood at 1.29 for Q2 FY25. The weighted average cost of debt stood at 11.62% as of September 30, 2024.
