On Tuesday this small-cap stock gains more than 13% after the company announced business updates for Q2. On the same day, the stock hit a new 52-week high of Rs. 141.35. Currently, the stock is trading above the 50-day and 200-day moving averages respectively. The stock has given 73% returns in six months and 40% returns in one year.
Puravankara Ltd
Puravankara Ltd has a market capitalisation of Rs. 3,106 Cr making it a small-cap company. On Monday the stock rose more than 13%, at 11:30 a.m., shares were trading 12% up at Rs. 138.50 on NSE.
According to the NSE filing, the company’s sales value increased by 102% from Rs. 791 Cr in Q2 FY23 to Rs. 1,600 Cr in Q2 FY24 and the sales value of Rs. 2,275 Cr in H1 FY24. Up by 109% when compared to Rs. 1,304 Cr in H1 FY23.
Furthermore, Customer collection from the real estate business increased to Rs. 879 Cr in Q2 FY24 in comparison to the customer collection of Rs. 518 Cr in Q2 FY23 which implies a jump of 70% YoY and average price realisation increased by 7% to Rs. 7,947 per sft during Q2 FY24 from Rs. 7,419 per sft in Q2 FY23. The company have launched 1 new project and 2 new phases in the Q2 FY24.
The company’s consolidated revenue grew by 12.9% from Rs. 297.35 Cr in Q1 FY23 to Rs.335.81 Cr in Q1 FY24 and the compnay reported a net loss of Rs. 17.86 Cr in Q1 FY24 against a profit of Rs. 34.44 Cr in Q1 FY23.
As per the latest shareholding data, Promoters hold 75%, FIIs hold 16.32%, DIIs hold 0.39%, and the public hold a 8.29% stake in the company.
Puravankara Ltd, together with its subsidiaries, develops and builds residential and commercial properties. Its residential projects include apartment complexes, villas, townhouses, luxury and premium affordable housing projects; and its commercial projects include retail and office space, as well as IT parks.
Written by Sheshadri N
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