However, revenue from operations jumped 34.53% to Rs 495.54 crore in Q2 FY25 as against Rs 368.33 crore posted in corresponding quarter previous fiscal. The company reported pre tax loss of Rs 17.06 crore in the second quarter of FY25 as compared with pre tax loss of Rs 11.22 crore posted in Q2 FY24. Net debt stood at Rs 2,430 crores, and the net debt-to-equity ratio stood at 1.29 for Q2 FY25. The weighted average cost of debt stood at 11.62% as of 30 September 2024. As of 30 September 2024, the company's balance collections from sold units (completed + ongoing) in all launched projects stood at Rs 4,520 crore. Total estimated surplus from all completed and ongoing projects is Rs 7,490 crore. Around Rs 945 crore has been invested in land, with a potential Gross Development Value (GDV) of Rs 9,700 crore from 5.8 msft of new acquisitions. This showcases the robust pipeline of new business being added for the company's future growth, it added. In the second quarter of FY25, customer collections increased by 18% YoY to Rs 1,033 crore. Sustenance sales grew by 14% and increased price realisation for Purva by 17% and Provident by 15% year on year. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara, said, 'The company has made sizeable investments of Rs 945 crores in land acquisition, with a potential GDV of Rs 9,700 crores from 5.8 msft of new acquisitions. Increased sustenance sales for H1FY25 of 14% y-o-y, along with increased price realisation in Q2FY25 for Purva by 17% and Provident by 15% y-o-y, showcases the strength of the brand along with customer appreciation of product quality and service. Operational efficiencies are visible through our increased customer collections amounting to Rs. 1,999 crores for H1 FY25, an increase of 27% y-o-y. In the coming two quarters, the company is focused on new launches amounting to around 12.27 msft with a potential GDV of around Rs. 13,625 crores and project deliveries for the remaining two quarters.' The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brandsurva and Provident, respectively. The group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune. Powered by Capital Market - Live

Net Loss of Puravankara reported to Rs 16.78 crore in the quarter ended September 2024 as against net loss of Rs 11.20 crore during the previous quarter ended September 2023. Sales rose 34.54% to Rs 495.54 crore in the quarter ended September 2024 as against Rs 368.33 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales495.54368.33 35 OPM %22.6023.04 - PBDT3.22-6.43 LP PBT-4.78-12.90 63 NP-16.78-11.20 -50 Powered by Capital Market - Live

Puravankara will hold a meeting of the Board of Directors of the Company on 8 November 2024Powered by Capital Market - Live

The domestic equity benchmark traded with moderate gains in early afternoon trade. The Nifty traded above the 25,000 level. Bank shares advanced after declining in the previous trading session. Trading could be volatile due to weekly F&O series expiry today. At 12:30 IST, the barometer index, the S&P BSE Sensex added 285.44 points or 0.34% to 81,746.76. The Nifty 50 index rose 59.70 points or 0.24% to 25,041.60. In the broader market, the S&P BSE Mid-Cap index rose 0.05% and the S&P BSE Small-Cap index gained 0.72%. The market breadth was strong. On the BSE, 2,404 shares rose and 1,378 shares fell. A total of 138 shares were unchanged. Ratan Tata, the Chairman Emeritus of Tata Sons and a recipient of India's second-highest civilian honor, the Padma Vibhushan, passed away on Wednesday at Mumbai's Breach Candy Hospital. He was 86 years old. Tata had been in critical condition and under intensive care. On Monday, he had disclosed that he was undergoing routine medical examinations due to his age and associated health conditions. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 4.69% to 13.46. The Nifty 31 October 2024 futures were trading at 25,160.15, at a premium of 118.55 points as compared with the spot at 25,041.60. The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 49.9 lakh contracts at the 26,000 strike price. Maximum Put OI of 41.9 lakh contracts were seen at 25,000 strike price. Buzzing Index: The Nifty Bank index rose 0.75% to 51,391.35. The index shed 0.03% in the past trading session. Kotak Mahindra Bank (up 2.75%), IDFC First Bank (up 1.4%), Bank of Baroda (up 1.09%), Canara Bank (up 1.04%), Axis Bank (up 1.02%), HDFC Bank (up 1.01%), AU Small Finance Bank (up 0.98%), IndusInd Bank (up 0.79%), Punjab National Bank (up 0.65%) and State Bank of India (up 0.36%) edged higher. Stocks in Spotlight : Puravankara added 1.11% after the company reported 18% growth in sales to Rs 1,331 crore in Q2 FY25 from Rs 1,128 crore in Q1 FY25. GTPL Hathway declined 2.19% after the company's consolidated net profit declined 62.65% to Rs 12.78 crore in Q2 FY25 as compared with Rs 34.22 crore in Q2 FY24. Revenue from operations increased 9.8% to Rs 855.56 crore in Q2 FY25 as compared with Rs 779.20 crore posted in corresponding quarter last year. Rashtriya Chemical & Fertilizers (RCF) rallied 6.95% after the company awarded a contract worth Rs 1,000.27 crore to L&T for setting up of 1200 MTPD complex fertilizer plant on lump-sum turnkey (LSTK) basis at RCF, ThaI. Powered by Capital Market - Live

The company has achieved a sale value of Rs 2,459 crore in H1 FY25. Customer collections reached Rs 1,033 crore in Q2 FY25 compared to Rs 879 crore in Q2 FY24, up by 18% YoY. For H1FY25, customer collections increased to Rs 1,998 crore, up by 27% compared to Rs 1,575 crore for H1 FY24. Average price realisation for Q2 FY25 was Rs 8,697 per square feet, higher by 9% as compared to Rs 7,947 per square feet recorded in Q2 FY24. In Q2 FY25, Puravankara acquired the redevelopment rights for Miami Apartments at Breach Candy, with a potential GDV of Rs 700 crore, marking its entry into the luxury South Mumbai market. Additionally, the company expanded its footprint in Lokhandwala, Andheri West, adding a new cluster of four societies (potential GDV of Rs 700 crore), to its existing redevelopment projects bringing the total land area in the region to around 4.3 acres with a combined potential GDV of Rs 2,350 crore for the project. The company has signed a joint development agreement (JDA) for a 1.95-acre land parcel at a prime location in the Electronics City micro-market. This land parcel, adjacent to the Purva Westend project, will have a saleable area of 2.6 lakh sft with a potential GDV of Rs 250 crore. Ashish Puravankara, managing director, Puravankara, said: Our performance continues to reflect robust housing demand across key markets, driven by our strategic focus on customer-centric offerings and operational efficiencies. In the first half of the fiscal, we witnessed sustained traction across our portfolio and continued to replenish our land bank by acquiring over 5.75 million square feet of saleable area in Mumbai, Bengaluru and Goa with a total potential GDV of around Rs 10,000 crore plus in this financial year. We remain confident in maintaining this growth momentum as we prepare for the festive season, with over 12 million square feet of new launches for the second half of the financial year with potential GDV of over Rs 13,000 crore. The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brandsurva and Provident, respectively. The group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune. The company reported consolidated net profit of Rs 15.13 crore in Q1 FY25 as compared with net loss of Rs 17.87 crore posted in Q1 FY24. Revenue from operations surged 103.7% year on year (YoY) to Rs 658.33 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

Puravankara has announced the 'Purva NRI Home Fest,' a special event designed to showcase its projects to Non-Resident Indians (NRIs) in Dubai. The two-day event will take place at the Shangri-La Dubai, from 10:00 AM to 8:00 PM on Saturday, 28th September, and Sunday, 29th September 2024. The Purva NRI Home Fest presents an opportunity for NRIs to explore over 4,000 homes across 20+ prestigious projects in five major Indian cities'Bengaluru, Chennai, Kochi, Mumbai, and Pune. This event will showcase an array of luxury apartments, world-class villas, and villa plots, providing potential buyers with diverse property options to suit their investment needs. Purva's NRI Home Fest will showcase a comprehensive range of property options. Prospective buyers will have the opportunity to explore a diverse portfolio that includes 1-5 BHK apartments, penthouses, villas and villa plots, with sizes ranging from approximately 600 sq. ft. to 5,000 sq. ft. Powered by Capital Market - Live

Puravankara has acquired the redevelopment rights of a prestigious society ' Miami Apartments at Breach Candy. Spread little over ~2,000 sq m of land, this marks the developer's entry into the uber-luxury South Mumbai market, where rates (as per market sources) are estimated in the range of Rs 1,25,000 and Rs 1,40,000 per sq. ft. In addition, Puravankara has further extended its footprint in Lokhandwala, Andheri West, where it had previously (in November 2023) acquired redevelopment rights for two societies with land admeasuring around 3 acres. In addition to the above two societies, the company has now been selected as the preferred developer by a cluster of four societies with land admeasuring approximately 1.30 acres, creating a large development with an overall land area of around 4.3 acres. As per market sources, the estimated rate in the micro-market ranges anywhere between Rs 40,000 and 45,000 per sq. ft.Powered by Capital Market - Live

Puravankara announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2024.Powered by Capital Market - Live