Puravankara Limited - Q2FY23 Operational Update

Puravankara Limited has announced the Operational Update (on a consolidated basis) for Q2FY23 i.e., period ended September 30, 2022.

The Indian economy has continued to outperform its counterparts, resulting in its emergence as the fastest-growing malar economy in the world. Organized players in Ind ian Real Estate are taking maximum advantage of this growing economic boom. The demand for real estate is seeing new peaks with each passing day specially with festive starting, we expect the same momentum to continue.

We have achieved the highest ever sales for the second quarter and for the first half of any financial year since inception.

Key Sales highlights (on a consolidated basis)

- Achieved highest ever sale value of INR 793 Crore for the second quarter of any financial year since inception, up by 33% compared to INR 597 Crore in Q2FY22.

- Jump in sales was achieved along with a consistent increase in average price realization. Average prices during Q2FY23 were up by 12% when compared with average price realization in Q2FY22.

- Achieved highest ever sale value of INR 1,306 Crore for the first half of any financial year since inception, up by 43% compared to INR 910 Crore in H1FY22.

- The company is on track for its launch pipeline of over 15 msft and doing necessary investments for the same.

Source : Equity Bulls

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Puravankara Q2FY23 OperationalUpdate