Puravankara has recorded net consolidated profit after tax of Rs 26.75 crore during the quarter ended March 31, 2023. It had registered net consolidated loss after tax of Rs 20.06 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 446.39 crore in Q4 FY23, a growth of 39.44 per cent from Rs 320.12 crore it recorded in the similar quarter last year.
Ashish Puravankara, managing director of the company said, “In FY23, we achieved the highest ever sales revenue of Rs 3,107 Crore. This exemplary performance can primarily be attributed to new launches and continued progress in the execution of our ongoing projects, also resulting in strong collections of Rs 2,258 crore.”
It clocked Rs 1,007 crore sales in Q4FY23, registering over 21 per cent growth year-on-year, area sold stood at 1.21 million sq ft.
As on 31st March 2023, balance collections from sold units (completed + ongoing) in all launched projects stood at Rs 2,967 crore, total value of unsold inventory, including new launches in FY23, stood at Rs 11,232 crore and total estimated surplus from all completed and ongoing projects is Rs 6,550 crore.
Our net debt stood at Rs 2,208 crore and net debt to equity ratio stood at 1.11 for Q4 FY23. The weighted average cost of debt stood at 11.31% as of March 31, 2023.