Puravankara Limited - Operational Update for Q4FY22 and FY22

Residential real estate has been on a steady and resilient growth trajectory, especially in the last quarter. Despite the shadow of uncertainty cast by the third wave, the segment continued to witness a surge in demand and sales. This is evidenced in a recent report which indicates a 71% rise in quarterly housing sales compared to last year. Puravankara Ltd is optimistic that the rising aspiration for homeownership and favorable market forces will help sustain the sector's growth momentum. This, in turn, will positively impact the country's economic development. The same is reflecting in company's quarterly sales performance.

Key operational updates for Q4FY22:

Key Sales highlights

Sales FY22

- Total sales volume of 3.52 msft with a total sales value of INR 2406 Crore; clocking highest ever sales value for the company since inception.

- Sales volume from under-construction inventory up by 51% in comparison to FY21

- Sales Volume Q4FY22 - Area sold stood at 1.19 msft, up by 20%, compared to 0.99 msft in Q4FY21

- Sales Value Q4FY22 - Sales value stood at INR 829 Crore, up by 10%, compared to INR 753 in Q4FY21

- New Launches - Of the 6 projects launched during the year, 4 projects were launched in Q4; Tree Haven, Provident Winworth, Purva Southbay and Sparkling Springs

First plotted project by the Group in Chennai market (Purva Southbay) was sold out in 48 hours from launch

Debt and cash flows - Cash flow remained healthy during the quarter resulting in net debt reduction.

AIF - The Company's wholly owned subsidiary received approval from the SEBI for an INR 750 crore, category II fund, under the Alternative Investment Fund (AIF) guidelines, 2012.

Shares of Puravankara Limited was last trading in BSE at Rs. 112.70 as compared to the previous close of Rs. 113.65. The total number of shares traded during the day was 15112 in over 370 trades.

The stock hit an intraday high of Rs. 114.70 and intraday low of 111.40. The net turnover during the day was Rs. 1711190.00.

Source : Equity Bulls

Keywords

Puravankara INE323I01011 Realty RealEstate OperationalUpdate Q4FY22 FY2022