Puravankara Limited - Operational Update for Q1FY23

Indian Real Estate will continue to witness a positive and robust growth momentum in FY23. Favourable macroeconomic factors like the rise in commercial activities, sustained infrastructural investments and the growing job market will fuel the housing demand. The Company is poised to capture market share with new launches planned for the remaining financial year. The company is on track to launch over 18 new projects spanning over 16 msft during the year.

Key operational updates for Q1FY23:

Key Sales highlights (on consolidated basis)

- Achieved highest ever sale value of Rs 513 Crore for the first quarter of any financial year since inception

- Sales Value of area sold during Q1FY23 stood at INR 513 Crore, up by 64% compared to INR 314 Crore in Q1FY22

- No new launches during the quarter. The entire sales were achieved from the bookings of inventory in ongoing projects

Shares of Puravankara Limited was last trading in BSE at Rs. 88.00 as compared to the previous close of Rs. 85.25. The total number of shares traded during the day was 25468 in over 911 trades.

The stock hit an intraday high of Rs. 89.90 and intraday low of 86.15. The net turnover during the day was Rs. 2243722.00.

Source : Equity Bulls

Keywords

Puravankara INE323I01011 Q1FY23 OperationalUpdate