The shares of the leading real estate developers gained up to 6 percent after the company reported the highest-ever annual and quarter sales in FY24.
With a market capitalization of Rs 5,705.82 crore, the shares of Puravankara Ltd were trading at Rs 240.60 per share, increasing around 4 percent as compared to the previous closing of Rs 230.90 apiece.
According to the company filing, Puravankara Ltd reached its highest-ever annual sales value of Rs 5,914 crores in FY24, up by 90 percent from Rs 3,107 crores in FY23, and a quarterly sales value of Rs 1,947 crore for Q4FY24, up by 93 percent from Rs 1,007 crores in Q4 FY23.
Additionally, the company also achieved the highest-ever annual customer collections from the real estate business, which increased to Rs 3,609 crores in FY24 compared to Rs 2,258 crores in FY23, up by 60 percent y-o-y.
Looking into Puravankara’s performance, revenue increased by 46 percent from Rs 392 crore in Q3 FY23 to Rs 574 crore in Q3 FY24. During the same period, net profit increased by 239 percent, from Rs 23 crore to Rs 78 crore.
The company has completed 83 residential projects and commercial projects with more than 21,350 homes with a total area of over 29.13 msft Under Development.
The stock has given a return of 91.55 percent in six months and a multi-bagger return of 258.27 percent in one year. An investment of Rs 1 lakh in the firm yields a return of Rs 3.58 lakh in a Year.
Puravankara Group firm has a significant order book of over 1,100 crore and specializes in technology-enabled building solutions for clients like ITC, JSPL, Taj GVK, BIAL, and Godrej Properties.
Puravankara Limited specializes in the development and building of luxury, premium affordable, and commercial properties. The Company’s business operations are divided into one reportable segment: real estate development. Its initiatives include Purva Atmosphere, and Purva Summit, among others.
Written by:- Abhishek Singh
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