INSUBCONTINENT EXCLUSIVE:
Realty firm Puravankara reported a 7.79 per cent rise in consolidated net profit at Rs 21.58 crore for the second quarter of 2018-19.
Its
net profit stood at Rs 20.02 crore in the year-ago period.
Revenues grew by 34 per cent to Rs 500crore during July-Sep period of the current
fiscal as against the corresponding period of the previous year.
Puravankara MD Ashish R Puravankara said: "A great quarter with a good rise
in sales volume and bookings
The overall volumes sold during the quarter registered almost a 100% increase from the year ago quarter
Provident continues to be the growth engine and witnessed strong growth, with sales value growing 4 times."
The company sold 1.09 mn sft as
compared to 0.80 mn sft in the year ago quarter ended September 30, 2017
Sales bookings stood at Rs 633 crores, compared to Rs 470 crores in the year ago quarter ended September 30, 2017
"Puravankara continues to
do well with the sales realization per square foot for the ongoing projects registering over Rs 7,700
The Group will continue to focus on new launches across both the brands," he said.
The firms net debt stood at Rs 2457 cr as on September
