Puravankara net at Rs 4,373 lakh

Puravankara net at Rs 4,373 lakh

For year ended period its profit rose to Rs 14,532 lakh from Rs 14,441 lakh a year ago. The firm attributed the jump in Q4 net to inventories sold at a 15 per cent higher price compared to Q3, as it has not launched new projects.

Total Q4 revenue jumped to  Rs 12,281 lakh from Rs 6,792 lakh in the year ago period and revenue for year ended period stood at Rs 47,836 lakh, up from Rs 44,490 lakh. The firm’s debt to equity ration stands at 0.54, down from  0.58 in the year ago period but had risen compared to the same in Q3 which was 0.51.

Briefing reporters, Chief Operating Officer Jackbastian Kaitan Nazareth said “Currently we have 19 million sq ft of ongoing projects of which we have 30 per cent as inventory. In Q4 our inventory sales went up to 70 per cent from 58 per cent in Q3, up 12 per cent.”

Meanwhile, the firm said it will add another 12 million sq ft of property in the current financial year under different segments and joint ventures and also announced that the third project under Provident brand will come up on Hosur Road in the City
Similarly, under its JV with Starworks Constructions Puravankara has applied for six infrastructure projects and is in the process of registering the firm and fulfilling other requirements. Besides, the firm said it is in talks with New York University to set up a real estate school in Bangalore.

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