{"id":106952,"date":"2023-08-11T18:57:14","date_gmt":"2023-08-11T13:27:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106952"},"modified":"2023-08-11T18:57:15","modified_gmt":"2023-08-11T13:27:15","slug":"puravankara-q1-24-results-company-reports-119-increase-in-revenue","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/puravankara-q1-24-results-company-reports-119-increase-in-revenue\/","title":{"rendered":"Puravankara Q1 \u201824 Results: Company Reports 119% Increase in Revenue"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3405719299\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PURVA\/consolidated\">Puravankara Limited<\/a><\/strong>, one of India\u2019s most trusted real estate players, announced its financial results today for the first quarter (Q1FY24) ending June 30, 2023.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-614046236\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company recorded sales of Rs. 1,126 crores, an increase of 119% Y-o-Y. Sales volume for the quarter stood at 1.36 msft, up by 97% Y-o-Y with a strong collection of Rs. 696 crores (+52% Y-o-Y). Average price realisation increased by 11% to Rs. 8,227\/sq ft during the quarter, up from Rs. 7,436\/sq ft in Q1FY23. Operating cash inflows stood at Rs. 866 Crores (+30% Y-o-Y) and revenue from projects stood at Rs. 323 crores (+50% Y-o-Y).<\/p><p>Commenting on the company\u2019s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, \u201cThe results for Q1FY24 show a strong start to the new fiscal year. Pre-sales has more than doubled (119% growth Y-o-Y) vs Q1FY23. With a robust pipeline of 15 million square feet of new launches this year, we are confident of continuing to drive our pre-sales growth momentum. We are actively pursuing potential acquisitions across regions in all our product categories, in line with our growth plans for the upcoming financial years.\u201d&nbsp;<\/p><p>Highlights Operational Highlights for Q1FY24&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1488832678\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u2022 Area sold stood at 1.36 msft (+97% Y-o-Y)&nbsp;<\/p><p>\u2022 Sales value stood at Rs. 1,126 crores (+119% Y-o-Y)&nbsp;<\/p><p>\u2022 Sales realisation stood at Rs. 8,277\/sft (+11%Y-o-Y) Consolidated Q1FY24 Financial Performance&nbsp;<\/p><p>\u2022 Revenue from projects stood at Rs. 323 crores (+50% Y-o-Y)&nbsp;<\/p><p>\u2022 EBITDA stood at Rs. 75 crores (-46% Y-o-Y)&nbsp;<\/p><p>\u2022 Loss of Rs. 17 crores as compared to a profit of Rs. 35 crores in Q1FY23 Projected Cash Flows As on 30th June 2023,&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-154626172\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>\u2022 Balance collections from sold units (completed + ongoing) in all launched projects stood at Rs. 3,052 crores&nbsp;<\/p><p>\u2022 Total value of unsold inventory, including new launches in Q1FY24, stood at Rs. 5,528 crores&nbsp;<\/p><p>\u2022 Total estimated surplus from all completed and ongoing projects is Rs. 6,730 crores Debt The net debt stood at Rs. 2,119 crores and the net debt to equity ratio stood at 1.07 for Q1FY24. Net debt has reduced by Rs. 89 crores compared to the previous quarter.<\/p><p>Outlook Sales of 64,500+ residential units in the last quarter (Q1FY24) is a new peak, the highest ever since 2008. This trend points towards a sustained positive trajectory in the real estate cycle evidenced by inventory of less than 12 months nationwide. With the increasing economic activity and a growth projection of 6.1% by IMF (revised up by 0.2%), we firmly believe that Puravankara is well-positioned to capitalize and gain market share in a consolidating real estate market.<\/p><div class=\"trade-after-content\" id=\"trade-1784035825\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Puravankara Limited, one of India\u2019s most trusted real estate players, announced its financial results today for the first quarter (Q1FY24) ending June 30, 2023. The company recorded sales of Rs. 1,126 crores, an increase of 119% Y-o-Y. Sales volume for the quarter stood at 1.36 msft, up by 97% Y-o-Y with a strong collection of [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-106952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Puravankara Q1 \u201824 Results: Company Reports 119% Increase in Revenue - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Puravankara Limited, one of India\u2019s most trusted real estate players, announced its financial results today for the first quarter (Q1FY24) ending June 30, 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/puravankara-q1-24-results-company-reports-119-increase-in-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Puravankara Q1 \u201824 Results: Company Reports 119% Increase in Revenue\" \/>\n<meta property=\"og:description\" content=\"Puravankara Limited, one of India\u2019s most trusted real estate players, announced its financial results today for the first quarter (Q1FY24) ending June 30, 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/puravankara-q1-24-results-company-reports-119-increase-in-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-11T13:27:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-11T13:27:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/real-estate-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/puravankara-q1-24-results-company-reports-119-increase-in-revenue\/\",\"url\":\"https:\/\/tradebrains.in\/features\/puravankara-q1-24-results-company-reports-119-increase-in-revenue\/\",\"name\":\"Puravankara Q1 \u201824 Results: Company Reports 119% Increase in Revenue - 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