Puravankara's Strategic Focus: A 17% Decline Amid Robust Housing Demand

Puravankara Ltd's sales bookings fell by 17% to Rs 1,331 crore in Q2 of this fiscal year. Despite the drop, the firm maintained robust demand, achieved Rs 1,033 crore in collections, and plans significant new project launches, with a potential GDV exceeding Rs 13,000 crore.

Puravankara Ltd, a major player in the Indian real estate market, reported a 17% decline in sales bookings to Rs 1,331 crore for the second quarter of the current fiscal year. This dip occurs despite a strong housing demand compared to Rs 1,600 crore in the same quarter last year.

For the first six months of the fiscal year, the company's property sales amounted to Rs 2,459 crore, a decrease from Rs 2,725 crore in the previous year's corresponding period. Ashish Puravankara, Managing Director, emphasized the strategic focus on customer-centric offerings contributing to consistent housing demand in key markets.

In the first half, Puravankara Ltd continued to expand its portfolio by acquiring over 5.75 million square feet in Mumbai, Bengaluru, and Goa. The company remains optimistic about maintaining growth with plans for over 12 million square feet of new launches in the second half and an anticipated GDV exceeding Rs 13,000 crore.

(With inputs from agencies.)