Real estate developer Puravankara recorded an 18 per cent uptick posting ₹1,331 crore in sales for the second quarter of FY25, compared to ₹1,128 crore in Q1FY25. The company’s cumulative sales value reached ₹2,459 crore in H1FY25.
Customer collections grew by 18 per cent year-on-year (y-o-y), rising to ₹1,033 crore in Q2FY25 up from ₹879 crore in Q2FY24. In the first half of FY25, the collections surged by 27 per cent to₹1,998 crore, compared to ₹1,575 crore in the same period last year.
“In the first half, we witnessed sustained traction across our portfolio and continued to replenish our land bank by acquiring over 5.75 msft of saleable area in Mumbai, Bengaluru and Goa with a total potential GDV of around ₹10,000 crore plus in this financial year,” said Ashish Puravankara, Managing Director, Puravankara Ltd.
New launches
Puravankara has over 12 msft of new launches for the second half of the financial year with a potential GDV of over ₹13,000 crore, added Ashish.
The company reported a 9 per cent increase in average price realisation, reaching ₹8,697 per sq ft, up from ₹7,947 per sq ft in the year-ago period, said the company.
In addition, Puravankara expanded its footprint in Lokhandwala, Andheri West, adding a new cluster of four societies. This expansion brings a potential GDV of ₹700 crore, increasing the total land area in the region to approximately 4.3 acres with a combined GDV of ₹2,350 crore for the project.
Furthermore, the company signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel at a prime location in the Electronics City micro-market, adjacent to the Purva Westend project, which has a saleable area of 2.6 lakh sq ft with a potential GDV of ₹250 crore.