Puravankara has reported net consolidated profit after tax of Rs 14.78 crore in the quarter ended June 30, 2024. It had registered loss after tax of Rs 17.86 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 675.55 crore in Q1 FY25, a growth of 101.17 per cent from Rs 335.81 crore it recorded in the similar quarter last year.
Ashish Puravankara, managing director of the company said, “The revenue recognised went up to Rs 676 crores on account of higher delivery of 929 units, a 108% growth over last year’s delivery. While the company sold 1.29 million sq ft, our focus was on replenishing our landbank. The company deployed Rs 762 crore for land acquisition in MMR, Goa and Bengaluru.”
During the quarter ended June 30, 2024, Grand Hills Developers, a wholly-owned subsidiary of the company, has issued 25,500 listed, secured, rated, redeemable, non-convertible debentures aggregating to Rs. 255 crore.
The company achieved quarterly sales value of Rs 1,128 crore for Q1 FY25 in sustenance vs Rs 1,126 crore in Q1FY24, as the planned launches were deferred to Q2 FY25.
It also achieved quarterly customer collections from the real estate business of Rs 965 crore in Q1 FY25 compared to Rs 696 crore in Q1 FY24, up by 39 per cent year-on-year.
The net debt stood at Rs 2,237 crore for Q1 FY25.
