Prominent Real Estate stock is in focus after its Stock jumped by 10 percent following the announcement of a real estate project in Bangalore North with a Gross Development Value (GDV) of Rs 3,300 Crores.
With a market capitalization of Rs. 5,628 Crore, the stock of Puravankara Limited opened at Rs. 231.20, up 5.28 percent from yesterday’s close, and after opening, it made a high of Rs. 241.55, hitting the 10 percent Upper Circuit mark. Additionally, the Yearly return for the stock is -34 percent, and the past 5-year return is an impressive 489 percent.
Update from the Company
The company has entered into a Joint Venture (JV) to develop a 24.59 Crore-acre land parcel in North Bengaluru. The estimated Gross Development Value (GDV) is in excess of Rs. 3,300 Crores. Further, the land parcel has a total saleable area of approximately 3.48 million sq.ft, and the estimated time for the launch of the project is the next six months.
The company also mentioned that they are launching this project on the back of Puravankara’s sustained success in the micro-market, and the location of the project is one of the city’s fastest-growing real estate corridors. Further, the project will also benefit from strong market demand from its proximity to the International airport and access to upcoming infrastructure and employment hubs.
Headquartered in Bengaluru and founded in 1975 by Ravi Puravankara, Puravankara Limited is a leading Indian real estate developer with a strong presence in both residential and commercial property sectors.
The company has a legacy of over 50 years and operates under three key brands: Puravankara (focusing on luxury projects), Provident Housing Ltd. (catering to mid-income buyers), and Purva Land (focusing on plotted developments).
The company reported a 44.59 percent YoY decrease in revenue from Rs. 574 Crore in Q3FY24 to Rs. 318 Crore in Q3FY25. On a QoQ basis, the company reported a decrease of 35.88 percent in revenue from Rs. 496 Crore in the previous quarter.
Their Net profit of Rs. 78 crores in Q3FY24 turned to a Net Loss of Rs. 93 Crores in Q3FY25. However, on a QoQ basis, their Net loss increased from Rs. 17 Crores to Rs. 93 Crores in Q3FY25.
Written By Abhishek Das
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