Puravankara reported pre-sales of INR 1,331 crore in Q2-FY25, a rise from INR 1,128 crore in Q1, with total pre-sales of INR 2,459 crore in H1-FY25. Customer-collections reached INR 1,033 crore in Q2, up 18% year-on-year, INR 1,998 crore for H1, up 27%. Average-price-realisation increased by 9% to INR 8,697 per sq-ft The company acquired 5.75 million sq-ft of saleable-land in Mumbai, Bengaluru, and Goa with a potential GDV of over INR 10,000 crore. It signed a JDA for a 1.95-acre plot in Electronics City and entered South Mumbai's luxury market.
Puravankara, one of India's most trusted real estate developers, reported significant pre-sales of INR 1,331 crore in the second quarter of the financial year 2024-25, reflecting an 18% increase from INR 1,128 crore in Q1 FY25. Total pre-sales for the first half of FY25 amounted to INR 2,459 crore. Additionally, the company's customer collections saw robust growth, reaching INR 1,033 crore in Q2 FY25, compared to INR 879 crore in Q2 FY24, marking an 18% year-on-year increase. For the first half of FY25, customer collections totaled INR 1,998 crore, up by 27% compared to INR 1,575 crore in H1 FY24.
Puravankara's managing director, Ashish Puravankara, highlighted the company's focus on replenishing its land bank. In H1 FY25, the company acquired over 5.75 million square feet of saleable area across Mumbai, Bengaluru, and Goa, with a total potential gross development value (GDV) exceeding INR 10,000 crore. The company is confident of maintaining this growth momentum as it enters the festive season with plans to launch over 12 million square feet of new projects in the second half of the financial year, having a potential GDV of over INR 13,000 crore.
In terms of pricing, Puravankara reported an increase in average price realisation in Q2 FY25, which rose to INR 8,697 per square foot, up 9% from INR 7,947 per square foot in Q2 FY24. This reflects the company's ability to capitalise on strong demand across its portfolio, particularly in high-value markets.
Puravankara's development strategy also includes a number of key land acquisitions and joint ventures. In Q2 FY25, the company secured redevelopment rights for the prestigious Miami Apartments in Breach Candy, Mumbai. This project is expected to have a potential GDV of NR 700 crore, marking Puravankara's entry into the luxury South Mumbai market. The company also expanded its footprint in Lokhandwala, Andheri West, by adding a new cluster of four societies to its redevelopment portfolio, with a potential GDV of INR 700 crore. The total land area of this project is approximately 4.3 acres, with a combined potential GDV of INR 2,350 crore. In Electronics City, Puravankara signed a Joint Development Agreement (JDA) for a 1.95-acre land parcel, located adjacent to its existing Purva Westend project. This parcel will provide a saleable area of 2.6 lakh square feet and is expected to generate a potential GDV of INR 250 crore.
With a pipeline of projects, strategic acquisitions, and consistent sales growth, Puravankara is well-positioned for further expansion and increased market share in the Indian real estate sector.
Advertisement
Facebook
Whatsapp
