Puravankara Limited Q1FY25 Financial Results Announced

Puravankara Limited reported its Q1FY25 financial results, reflecting steady growth and operational efficiency. Sales value stood at Rs 1,128 crore, with a 39% year-on-year increase in customer collections. Key highlights include Rs 148 crore EBITDA and Rs 15 crore profit, marking a turnaround from last year's losses.

Puravankara Limited, headquartered in Bengaluru, Karnataka, has announced its financial results for the first quarter of fiscal year 2025, ending on June 30, 2024. The company reported a quarterly sales value of Rs 1,128 crore for Q1FY25, a slight increase from Rs 1,126 crores in Q1FY24. Delayed launches have been rescheduled for the second quarter.

Customer collections from the real estate business soared to Rs 965 crores in Q1FY25, a 39% rise from Rs 696 crores in Q1FY24. The average price realization also improved by 6% year-on-year, standing at Rs 8,746 per square foot. Revenue from projects saw a substantial 101% year-on-year growth, totaling Rs 676 crores. The company's Managing Director, Ashish Puravankara, attributed this growth to the higher delivery of 929 units, marking a 108% increase in unit deliveries compared to the previous year.

Operational highlights include delivering 1.16 million square feet in Q1FY25, compared to 0.49 million square feet in Q1FY24. Financial performance showed consolidated revenue from projects at Rs 676 crores, EBITDA at Rs 148 crores, and a profit of Rs 15 crores, reversing a loss of Rs 17 crores in Q1FY24. Net debt stood at Rs 2,237 crores for Q1FY25.

The outlook for the Indian real estate sector remains optimistic, driven by strong economic performance and rising demand across various segments. Increased urbanization, infrastructure development, and favorable government policies are boosting homebuyer confidence. The IMF has revised India's GDP forecast to 7% for FY25, supporting robust growth in the sector. Puravankara is anticipated to experience sustained growth, aligned with these positive market trends.

(With inputs from agencies.)