by THO
Bengaluru-based Puravankara Limited has recorded sales of ₹5,914 crore in FY24, an increase of 90% compared to ₹3,107 crore in FY23. Customer collections increased by 60 per cent to ₹3,609 crore for the FY, compared to ₹2,258 crore in the previous fiscal, the company said in a regulatory filing on April 5.
For the quarter ended March 31, the company recorded a sales value of ₹1,947 crore, up 93 per cent from ₹1,007 crore for the same period last year.
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The average price realisation increased by 2% to ₹7,916 per sq ft during FY24 from ₹7,768 per sq ft in FY23. This is attributed to an inventory mix between Purva, Provident Housing and Purva Land brands, the company said..
“Puravankara Limited has achieved a significant milestone by surpassing Rs. 5,900 crore sales showcasing our customer-centric ethos and focus on quality. We are also thrilled to announce our highest-ever collection of ₹3,609 crores for FY24. This reflects our steadfast dedication to operations and delivery, ensuring significant construction progress,” said Ashish Puravankara, Managing Director, Puravankara Ltd.
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“With successful new launches and an optimistic outlook for upcoming projects, we are now focused on replenishing our inventory with new land acquisitions. We stay committed to building international quality products, keeping the customer at the centre of our strategy,” he said.
As of December 31, 2023, Puravankara has completed 83 projects measuring around 48 million sq ft across 9 cities – Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company’s total land bank is around 41 msft, and ongoing projects add up to around 29 msft.
