ANI PR Wire
23 Jan 2023, 17:15 GMT+10
Bengaluru (Karnataka) [India], January 23 (ANI/BusinessWire India): Real estate major Puravankara Limited (BSE: 532891) has achieved its highest-ever sales for the third quarter of any year since its inception by clocking Rs 796 crores in sales as per its operational update. This is an increase of 20 per cent compared to Rs 666 crores recorded in Q3FY22.
For the 9 months ending December 2022, the company has recorded Rs 2,100 crores in sale value, an increase of 33 per cent compared to a similar period last year. This is another record, the highest value recorded for the 9-month period since inception.
The jump in sales was achieved along with a consistent increase in average price realisation. The average price realisation of Rs 7,767/sq ft during Q3FY23 went up by 15 per cent compared to the average price realisation in Q3FY22.
This impressive increase in sales is accompanied by an equally impressive rise in customer collections from the real estate business, which increased to Rs. 621 Crore in Q3FY23 compared to the customer collections of Rs 344 Crore in Q3FY22. This implies a whopping jump of 80 per cent.
The company is on track to meet its launch target of over 15 million sq ft by the end of this financial year. The net debt continues to be similar to the previous quarter.
"The Indian economy continues to be one of the fastest-growing economies in the world. In the past few quarters, real estate maintained positive momentum in India and remains a preferred investment avenue amidst market volatility. Rapid infrastructure development and the return-to-office trend will continue to spur positive momentum in the sector," said Ashish Puravankara, Managing Director, Puravankara Limited.
Highlights:
Quarterly Performance Summary:
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Get a daily dose of Bangladesh Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bangladesh Sun.
More InformationDubai [UAE], September 25 (ANI): The International Cricket Council (ICC) confirmed on Monday that Kumar Dharmasena and Nitin Menon will ...
Hangzhou [China], September 25 (ANI): A fiery spell by Titas Sandhu and tight spin bowling from Deepti Sharma and Devika ...
Hangzhou [China], September 25 (ANI): The duo of Rohan Bopanna and Yuki Bhambri made a shocking exit in the Men's ...
New Delhi [India], September 25 (ANI): India middle-order batter Shreyas Iyer thanked everyone "who stood by him" following a match-winning ...
Colombo [Sri Lanka], September 25 (ANI): Sri Lanka Cricket's medical panel head Arjuna de Silva gave an update on Wanindu ...
Hangzhou [China], September 25 (ANI): Indian shooter Vijayveer Sidhu could not finish among medal winners in the 25m rapid-fire pistol ...
CAMP HILL, Pennsylvania: This week, the Wall Street Journal (WSJ) reported that Rite Aid could shut down some 400 to ...
WASHINGTON D.C.: U.S. Transportation Secretary Pete Buttigieg has criticized the air traffic control staffing shortages in New York as "unacceptable" ...
BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors ...
TOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...
HANOI, Vietnam: While the European Union (EU) is set to impose tariffs on its Chinese rivals, Vietnamese electric vehicle (EV) ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...