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Bengaluru-based real estate developer Puravankara Ltd reported a consolidated net profit of INR 25.23 crore for the quarter ended June, compared with a net loss of INR 68.55 crore in the corresponding period a year earlier. The company’s total income increased to INR 877.15 crore during the first quarter of the current financial year from INR 538.64 crore in the same period of the preceding year, according to a regulatory filing. Puravankara is among India’s major real estate developers and has completed 97 projects so far, covering a combined 59 million sq. ft. across nine cities. Its completed project portfolio spans Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.
Puravankara Ltd reported a consolidated net profit of INR 25.23 crore for the quarter ended June, reversing a net loss recorded in the corresponding period last year as the Bengaluru-based real estate developer reported higher total income. The company had reported a consolidated net loss of INR 68.55 crore in the year-ago quarter.
According to a regulatory filing, Puravankara’s total income increased to INR 877.15 crore in the first quarter of the current financial year from INR 538.64 crore in the corresponding quarter of the preceding year. The increase in income accompanied the company’s return to profitability during the June quarter.
Puravankara Ltd is based in Bengaluru and operates across several residential real estate markets in India. The company is among the country’s larger real estate developers, with a completed project portfolio extending across multiple cities and regions.
The developer has so far completed 97 projects with a combined area of 59 million sq. ft. across nine cities. Its completed developments are spread across Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa.
The company’s project footprint includes both established southern real estate markets and western markets such as Mumbai and Pune. Bengaluru remains part of its core geographical presence, while its completed portfolio also extends to other major urban centres and emerging markets across the country.
Puravankara’s June-quarter performance marks a change from the loss reported in the same quarter of the previous financial year. The company’s total income of INR 877.15 crore during the latest quarter was also higher than the INR 538.64 crore recorded a year earlier.
The results were disclosed through the company’s regulatory filing, with the figures covering the consolidated financial performance for the quarter ended June. The company’s return to profit comes against the backdrop of its established presence across nine cities and a completed development portfolio of 59 million sq. ft.
Puravankara continues to operate through its presence in Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune and Goa. Its completed portfolio of 97 projects represents the scale of development delivered by the company across these markets.
Source - PTI
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