Puravankara has announced pre-sales of Rs. 5,006 crore for the financial year 2024-25, marking a strong year for the company despite the challenging market environment. The company's collections stood at Rs. 3,937 crore, reflecting a 9% year-on-year growth, driven by increased demand and a strategic focus on sustaining sales across key markets.
Performance Highlights
Puravankara's fourth-quarter pre-sales reached Rs. 1,282 crore, contributing to the impressive total sales for FY25. The company’s collections for Q4 FY25 amounted to Rs. 946 crore. A significant portion of these sales came from sustenance sales, which grew by 22% year-on-year to Rs. 4,223 crore, while the average price realisation increased by 10%, indicating strong pricing power in the market.
Strategic Investments and Land Acquisitions
As part of its growth strategy, Puravankara invested over Rs. 1,300 crore in securing land with a total area of approximately 8 million sq ft, with an estimated potential gross development value (GDV) of over Rs. 13,000 crore. One of the company’s major new developments is a project in Thane, Mumbai, which has a total development potential of 3 million sq ft and an estimated GDV of Rs. 4,000 crore.
Strong Launch Pipeline for FY26
Puravankara has a robust pipeline for FY26, with over 13 million sq ft of new developments set to be launched. This includes 9 million sq ft of new projects and 4 million sq ft of new phase launches. The company is also progressing with projects totalling 5 million sq ft that are in advanced stages of securing approvals and are expected to go live in the next two quarters. Furthermore, Puravankara is expecting occupancy certificates (OC) for projects totalling 3.95 million sq ft with a combined GDV of over Rs. 3,200 crore in the upcoming financial year.
Conclusion
Puravankara’s performance in FY25 underscores its strong position in the real estate market, with steady growth in sales and collections. The company’s strategic investments in land acquisition and its significant launch pipeline for FY26 point to continued growth and value creation in the coming years. As the company moves forward with its new projects and developments, it is well-positioned to maintain its growth trajectory and meet the increasing demand for quality housing in key markets.