Puravankara Reports 2% YoY Growth in Q3FY25 Sales

Puravankara Limited recorded notable financial and operational achievements for Q3 FY25 and the nine months ended December 31, 2024 (9MFY25).

The company reported sales of ₹1,265 crores for Q3 FY25, a 2% increase compared to ₹1,241 crores in Q3 FY24. For 9MFY25, sales value reached ₹3,724 crores, demonstrating strong momentum.

Customer Collections and Pricing Trends

Customer collections showed growth, increasing by 6% year-on-year (YoY) to ₹993 crores in Q3 FY25 compared to ₹941 crores in the same quarter of the previous year. For the nine-month period, customer collections surged 19%, reaching ₹2,991 crores compared to ₹2,515 crores in 9MFY24. Additionally, the average price realisation for Q3 FY25 increased significantly to ₹8,848 per square foot (sft), a 16% rise compared to ₹7,621 per sft in Q3 FY24.

Strategic Investments in Land Acquisition

Puravankara spent over ₹1,100 crores on land acquisitions during the fiscal year, securing a potential gross development value (GDV) of ₹10,500 crores. These investments align with the company’s long-term growth strategy and strengthen its position in the consolidating real estate market.

Market Outlook

The company stated that the real estate sector in India continues to witness strong foreign equity investments, which reached an all-time high of $11.4 billion in 2024. The absorption of over 70 million square feet of office space across six major cities during the year highlights robust commercial demand driven by Global Capability Centers (GCCs) and hiring growth.

While delays in approvals affected new launches in 9MFY25, Puravankara plans to expedite its pipeline with 15.70 million sq. ft of projects scheduled for launch between Q4 FY25 and Q1 FY26. The company remains optimistic about increasing its market share amid favourable economic fundamentals and anticipated policy measures in the upcoming Union Budget to boost infrastructure, private investments, and foreign direct investments (FDI).

Commenting on the performance, the Managing Director of Puravankara Ltd, Ashish Puravankara, said, “The growth in collections is a clear reflection of our strong operational efficiency. In 9MFY25, we achieved collections of Rs. 2,991 crore, a 19% Y-o-Y increase, with Rs. 993 crore in Q3FY25, a 6% increase Y-o-Y. Pre-sales for Q3FY25 reached Rs. 1,265 crore, up by 2% Y-o-Y. Keeping in line with our acquisition strategy and our growth plans for the current and next financial year, we have invested approximately Rs. 1,100 crores this fiscal, adding a potential GDV of around Rs. 10,500 crores. This includes our most recent acquisition in Kanakapura Road, Bengaluru.”

On January 14, 2025, Puravankara share price opened at ₹335.00, touching the day’s low at ₹325.75, as of 9:47 AM on the NSE.

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