Puravankara Sales Up 23% At `1,003 Cr. In The First Half

According to an investor’s presentation, Bengaluru-based developer sold 1.7 million Square feet area during April-September period this fiscal, up 23 per cent from 1.38 million square feet in the corresponding period previous year.

In value terms, sales bookings rose to `1,003 crore from `790 crore during the period under review. During the first six months of this fiscal, the company sold 1,753 units, out of which 1,418 units were from its mid-income and affordable housing brand ‘Provident’.

The company recently reported a flat net profit at `21.54 crore for the quarter ended September, compared to `21.14 crore in the year-ago period. Total income rose to `499.28 crore during quarter from `371.53 crore in the corresponding period of the previous year. On quarterly performance, Ashish R Puravankara, MD, Puravankara Ltd, said: “A great quarter with a good rise in sales volume and bookings. The overall volumes sold during the quarter registered almost a 100 % increase from the year-ago quarter”.

Puravankara has a pan India presence- with projects in Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, Mangalore. It operates under two key brands: Puravankara for luxury housing and commercial offices, Provident for the affordable luxury segment.