Puravankara Limited: Q2FY25 Financial Highlights and Strategic Developments

Puravankara Limited, one of India’s most trusted real estate developers, reported sales of ₹1,331 crore for Q2FY25, an 18% increase from ₹1,128 crore in Q1FY25. The company achieved a total sale value of ₹2,459 crore in H1FY25. Customer collections also saw significant growth, reaching ₹1,033 crore in Q2FY25, compared to ₹879 crore in Q2FY24, marking an 18% year-over-year increase. For H1FY25, customer collections rose by 27% to ₹1,998 crore, up from ₹1,575 crore in H1FY24.

Key Metrics

• Quarterly Customer Collections: ₹1,033 crore in Q2FY25, up 18% YoY from ₹879 crore in Q2FY24.
• H1FY25 Customer Collections: ₹1,998 crore, a 27% increase from ₹1,575 crore in H1FY24.
• Quarterly Sales Value: ₹1,331 crore in Q2FY25, up 18% from Q1FY25, contributing to a total of ₹2,459 crore in H1FY25.
• Average Price Realization: Increased to ₹8,697/sft in Q2FY25, a 9% rise from ₹7,947/sft in Q2FY24.

Strategic Developments

In Q2FY25, Puravankara acquired redevelopment rights for Miami Apartments in Breach Candy, targeting a Gross Development Value (GDV) of ₹700 crore and marking its entry into the luxury South Mumbai market. Additionally, the company expanded in Lokhandwala, Andheri West, acquiring a cluster of four societies with a combined potential GDV of ₹2,350 crore across approximately 4.3 acres.

Furthermore, Puravankara signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel in the Electronics City micro-market, adjacent to the Purva Westend project. This parcel is expected to have a saleable area of 2.6 lakh sft and a potential GDV of ₹250 crore.

Outlook

The Indian economy is on a robust growth trajectory, with the World Bank revising its growth forecast for FY25 to 7%, up from 6.6%. The India Development Update highlights India as the fastest-growing major economy, with an impressive 8.2% growth rate in FY23-24, driven by public infrastructure investments and a resurgence in real estate activity. Puravankara is well-positioned to capitalise on these opportunities through its diverse project portfolio and strategic market presence, aiming to deliver exceptional value to stakeholders while expanding its footprint in key markets.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.