Puravankara posts 6 pct profit to Rs 27 cr in Q3 FY19

Bengaluru-based realty firm Puravankara Ltd Friday reported a 6 per cent increase in consolidated net profit at Rs 27.18 crore for the third quarter of this fiscal. Its net profit stood at Rs 25.64 crore in the year-ago period, the company said in a regulatory filing.

Total income rose 24 per cent to Rs 565.66 crore during October-December 2018 from Rs 454.90 crore in the corresponding period of the previous year. The company's MD Ashish R Puravankara said: "The company continues to deliver a steady performance, with a strong focus on execution, sales and collections across both ongoing and ready-to-move-in projects. Regular sales acceleration from the bucket of ready stock are up yet again, and this inventory is lower for the fifth quarter running."

"Following the successful launches over the last few quarters, with new launch sales of over 1,615 homes and 1.35 million sq ft, we are excited not only about the 5 new immediate launches (2.2 million sq ft) to be opened for booking before March 2019, but also a blockbuster FY20 with 5-6 million sq ft of new launches planned to be opened for sale, across our key focus markets," he added.

(With inputs from agencies.)