Puravankara shares rise nearly 3% after strong Q4 update

The company achieved its highest ever sales value of ₹1,007 crore as compared to ₹831 crore in the corresponding quarter last fiscal.

“Achieved highest ever sale value of INR 1,007 Crore for the fourth quarter of any financial year since inception. Up by 21% compared to INR 831 Crore in Q4FY22,” said Puravankara in its filing.

The realty firm further posted a 19 percent rise in realisations at ₹8,321/sqft vs ₹6,981/sqft, same quarter last year. The volumes rose 2 percent at 1.21 msf vs 1.19 msf on a yearly basis. 

The company also registered its highest ever sale value of ₹3,107 crore for FY23, the highest in any financial year since inception. It is an increase of 29 per cent compared to ₹2,407 crore in FY22.

Puravankara’s average price realization also rose by 14 per cent to ₹7,768/sft during FY23 from ₹6,838/sft in FY22.

“We have achieved the highest ever annual and quarterly sales of any financial year since inception, with Q4 sales of Rs. 1,007 crores and FY23 sales at a record high of Rs. 3,107 crores. The Company has consistently experienced growth during FY23, indicating our sustained efforts towards gaining market share. Despite maintaining a strong pace of sales growth, our unwavering commitment to execution, prompt delivery, and customer satisfaction remains at the forefront of our priorities. We expect our pre-sales growth momentum to continue, driven by a healthy pipeline of new launches of 14 million sqft in coming quarters,” said Ashish Puravankara, MD.

On Wednesday, the company’s scrip ended 2.67 per cent up at ₹77.73 on BSE.