Puravankara Q1 outcomes: Stories sturdy efficiency, eliminates earlier losses

Puravankara Restricted, a realty firm headquartered in Bengaluru, introduced its quarterly outcomes on thirty first July. The corporate reported quarterly gross sales of ₹1,128 crore, a slight improve from ₹1,126 crore in Q1 FY24, though some deliberate launches had been postponed to Q2 FY25. Notably, Puravankara additionally cleaned its steadiness sheet of all losses, reporting a revenue of ₹15 crore in comparison with a lack of ₹17 crore in Q1 FY24.

“The income went as much as ₹676 crore on account of upper supply of 929 items, a 108 per cent progress over final 12 months’s supply. Whereas the corporate bought 1.29 million sq. toes (msft), we targeted on replenishing our landbank. The corporate deployed ₹762 crore for land acquisition in MMR, Goa, and Bengaluru,” stated Ashish Puravankara, Managing Director, Puravankara Restricted, in a launch.

Wiped all losses

Abhishek Kapoor, Group CEO of Puravankara, defined in an interplay with the businessline that there’s a discrepancy between how the accounts replicate efficiency and the precise outcomes as a consequence of accounting insurance policies.

“The first focus of the group is on boosting pre-sales, producing sturdy money flows, and pursuing acquisitions as they are going to drive monetization of earlier investments, permitting reinvestment in land for future progress and increasing product launches. Whereas present prices are affecting our EBITDA and PAT figures, we consider our progress will enhance our financials sooner or later as we proceed to ship”, he stated.

EBITDA reached ₹148 crore, marking a considerable annual improve of 96 per cent. The online debt for Q1 FY25 was ₹2,237 crore.

In response to a query in regards to the firm’s debt ranges, Abhishek said they’re comfy with the debt place. The corporate made strategic investments of over ₹760 crore in new acquisitions, permitting it so as to add greater than 4 msft of property to its portfolio and money steadiness of over ₹1,000 crore.

Regardless of these investments, the corporate claims that the debt has elevated by ₹86 crore.

The corporate reported buyer collections from the true property enterprise of ₹965 crore in Q1 FY25, up 39 per cent from ₹696 crore in Q1 FY24. Common worth realization grew by 6 per cent YoY, reaching ₹8,746 per sq. foot. Moreover, venture income rose considerably to ₹676 crore, a 101 per cent improve in comparison with the earlier 12 months.