Real estate developer Puravankara reported consolidated net loss of Rs 92.64 crore in the quarter ending December FY25 as compared to Rs 77.79 crore profit in the same period last year.
The consolidated revenue from operations also fell to Rs 318.18 crore in Q3 FY25 as compared to Rs 573.70 crore in Q3 FY24.
The company’s sales rose marginally to Rs 1265 crore in Q3FY25 as compared to Rs 1241 crore in the same period. The collections rose 6% to Rs 993 crore in Q3 FY25.
“Average realisation is at 16% higher YoY because of mix of inventory, while Puravankara and Provident saw increase of 29% & 7% YoY respectively,” the company said in a regulatory filing.
The sales value of the company’s two brands – Puravankara and Purva Land – fell by 32% and 53% respectively while that of Provident rose by 76% in Q3 FY25.
Ashish Puravankara, Managing Director, Puravankara Limited said, “The growth in collections is a clear reflection of our strong operational efficiency and business performance. We expect Occupancy Certificates (OCs) and completion for four projects with a total saleable area of 3.95 million sq ft during Q4FY25/Q1FY26 with a total value of Rs 3,200+ crores. This fiscal, we have invested Rs 1,236 crores in land purchases, which aligns with our goal to expand our landbank to 45 million sq ft.”
The company invested Rs 1,236 crore in land acquisition, adding 7+ msft of saleable area.
With the addition of 7+ msft land bank with a GDV potential of Rs 12,000+ crores expected to be brought to market in the next 15 months, we are excited about these upcoming launches, achieving our growth plans and expansion strategy. In addition, we have a robust pipeline of land acquisition along with capital raise to continue the growth momentum, Ashish added.
The company developable areas at the end of December stood at 77.17 million sq. ft.
Net debt stood at Rs 2,824 crores.
