Puravankara Ltd Reports Steady Sales, Expands Land Holdings

Realty firm Puravankara Ltd reported flat sales bookings of Rs 1,128 crore in Q1 of the fiscal year despite high housing demand. The firm deferred new supply to Q2. They also acquired significant land parcels in Thane, Mumbai, and Bengaluru, increasing their potential development area.

Realty giant Puravankara Ltd reported sales bookings of Rs 1,128 crore for the first quarter of the current fiscal year, remaining steady amid strong housing demand. However, new supply launches have been postponed to the second quarter.

According to a regulatory filing, the company's quarterly sales value for Q1 2024-25 stood at Rs 1,128 crore, almost unchanged from Rs 1,126 crore in the same period last year. The average price realization rose by 6% to Rs 8,746 per square foot from Rs 8,277 per square foot in the previous year.

In addition, the Bengaluru-based firm expanded its land holdings, acquiring a 12.77-acre parcel on Ghodbunder Road in Thane and a 7.26-acre parcel in Electronics City, Bengaluru. They also purchased a share of 0.83 million sq ft saleable area in projects located in Goa and Bengaluru.