Bengaluru: Puravankara Limited (BSE: 532891), one of India’s most trusted and admired real estate developers, recorded a sale value of INR 1,600 crores for Q2FY24. This is the highest-ever for any quarter since inception, a 102 per cent increase, compared to INR 791 crores of sale value in Q2FY23.
The company also achieved a sale value of INR 2,725 crores in H1FY24. Up by 109 per cent when compared to INR 1,304 crores in H1FY24.
Commenting on the update, Ashish Puravankara, Managing Director, Puravankara Limited, said, “For the second quarter of FY24, pre-sales have increased more than twofold, showing a remarkable growth of 102 per cent compared to the same period last year.
With a robust pipeline of upcoming project launches, we are confident that we will sustain the momentum of pre-sales growth. These new launches are complemented by noteworthy achievements in sustenance sales, supported by efficient and swift execution, resulting in a 70 per cent year-on-year increase in collections.
These continuous improvements signify our company's commitment to optimising operational efficiency, enhancing profitability, and strengthening our financial foundation.
As we embark on the path of driving incremental growth, our focus on new acquisitions is a key element of our expansion strategy. By strategically identifying and integrating businesses that complement our strengths and objectives, we aim to diversify our portfolio, enter new markets, and capitalise on emerging trends. We are confident to maintain the sturdy growth in pre-sales driven by new launches as well as sustenance projects.”
