Puravankara Clocks Rs 3,107 Cr In Sales For FY23, 29% Increase In Revenue

Puravankara announced its financial results today for the fourth quarter (Q4FY23) ending 31 March 2023 and consolidated results for FY23.

Balance collections from sold units (completed and ongoing) in all launched projects stood at Rs 2,967 crore. The total value of unsold inventory, including new launches in FY23, stood at Rs 11,232 crore. The total estimated surplus from all completed and ongoing projects is Rs 6,550 crore.

The company’s net debt stood at Rs 2,208 crore and the net debt-to-equity ratio stood at 1:11 for Q4FY23. The weighted average cost of debt stood at 11.31 per cent as of 31 March 2023.

In March 2023, net sales were Rs 248.52 crore, up 125.97 per cent from Rs 109.98 crore in March 2022. Quarterly Net Profit in March 2023 was Rs. 36.49 crore, up 666.61 per cent from Rs 6.44 crore in March 2022.

In March 2023, EBITDA is Rs 79.36 crore, up 96.48 per cent from Rs 40.39 crore in March 2022.

Commenting on the company’s performance, Ashish Puravankara, Managing Director of Puravankara, said, “In FY23, we achieved the highest ever sales revenue of Rs 3,107 crore. This exemplary performance can primarily be attributed to new launches and continued progress in the execution of our ongoing projects, also resulting in strong collections of Rs 2,258 crore.