Puravankara profit up on ‘ready to move in’ unit sales

Puravankara Projects, driven by ‘ready to move in’ unit sales, has boosted its profits 54.56 per cent to Rs 47.08 crore on a consolidated basis for the first quarter this fiscal. The company’s revenues were also up 30.07 per cent to Rs 247.37 crore in the same quarter, while EPS stood at Rs 2.35 compared with Rs 1.46 for the last year. According to Ravi Puravankara, Chairman and Managing Director, , “Operational cash flow has improved on account of sales of ‘ready to move in’ apartments; we intend to augment that trend through new launches. This would alleviate our debt obligations.”