Puravankara Sales Flat Despite Strong Housing Demand - Q1 FY25

Bengaluru, Jul 12 (PTI) Realty firm Puravankara Ltd on Friday reported flat sales bookings of Rs 1,128 crore during the first quarter of this fiscal year despite strong housing demand as it deferred new supply.

In a regulatory filing, the company said it achieved quarterly sales value of Rs 1,128 crore for Q1 (April-June), 2024-25 fiscal... as against Rs 1,126 crore a year ago, while the planned launches have been deferred to Q2 (July-September).

The average price realisation increased to Rs 8,746 per sq ft during the first quarter of 2024-25, up 6 per cent from Rs 8,277 per sq ft in the year-ago period.

Bengaluru-based Puravankara Ltd said it acquired a 12.77-acre land parcel at Ghodbunder Road in Thane, Mumbai Metropolitan Region (MMR), with a total potential carpet area of 1.82 million sq ft, a 7.26 acre land parcel at Electronics City (Hebbagodi) in Bengaluru with a potential carpet area of 0.60 million sq ft.

It also purchased the landowner share of 0.83 million sq ft saleable area in three projects in Goa and Bengaluru.

Puravankara Ltd is a leading real estate developer in the country with significant presence in South and West India. It is mainly into the housing segment.