Latest news with #AshishPuravankara
Business Standard
11-07-2025
- Business
- Business Standard
Puravankara Pre-Sales at Rs 1,124 crores in Q1, Price Realisation Up by 9%
VMPL Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over Rs 2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations. Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation." Key Highlights -Puravankara selected as preferred developer for redeveloping eight residential societies in Chembur, Mumbai, unlocking over 1.2 million sq. ft. of potential across ~4 acres, with an estimated potential Gross Development Value (GDV) of Rs 2,100 crore. -Entered into a joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated combined potential GDV of over Rs 1,000 crores. -Achieved quarterly sales value of Rs 1,124 crores for Q1FY26 when compared to Rs.1,064 crore in Q1FY25; up by 6% y-o-y. -Achieved quarterly sales volume of 1.25 million square feet for Q1FY26 when compared to 1.29 million square feet in Q1FY25. -Average price realisation in Q1FY26 increased to Rs 8,988 /sft, up by 9% from Rs 8,246/sft in Q1FY25. -Achieved quarterly customer collections from the real estate business of Rs 857 crores in Q1FY26. -The company is on track to complete 2.2 million square feet of commercial projects this year. Outlook India's economic outlook for FY26 remains positive, with GDP growth projected to be between 6.2% and 6.5%, supported by resilient domestic demand and robust rural consumption. The Reserve Bank of India, in its June 2025 policy review, delivered a 50-basis-point cut in the repo rate, bringing it down to 5.50%, while also reducing the Cash Reserve Ratio by 100 basis points to 3% to inject liquidity into the system. These measures are expected to stimulate credit growth and further lower borrowing costs, benefiting both end-users and developers. Inflation remains within the RBI's target band, allowing policy to remain growth supportive. The real estate sector continues to strengthen, driven by steady demand for premium housing and robust office leasing from IT, BFSI, and GCC companies. With improving affordability, lower home loan rates, and rising sector consolidation, Puravankara is well-positioned to leverage these tailwinds.
Time of India
11-07-2025
- Business
- Time of India
Puravankara posts Q1 FY26 pre-sales of ₹1,124 cr, price realisation up 9%
Real estate firm Puravankara Ltd reported consolidated pre-sales of ₹1,124 crore — a 6% year-on-year growth — even in the absence of new launches for the operational performance in the first quarter of FY26, with . The company also witnessed a 9% increase in average price realisation , which rose to ₹8,988 per square foot in Q1FY26, up from ₹8,246 per square foot a year ago. Customer collections stood strong at ₹857 crore during the quarter, reinforcing homebuyer confidence across its projects. Despite a slight dip in sales volume from 1.29 million sq ft in Q1FY25 to 1.25 million sq ft in Q1FY26, the higher price realisation helped the company maintain growth in topline metrics. Puravankara's performance gains further relevance as they come in a quarter without fresh launches, underscoring the strength of its sustenance sales strategy and customer trust in the brand. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo 'As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching ₹1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects,' said Ashish Puravankara, Managing Director, Puravankara Ltd. He said, 'We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over ₹2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations. Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over ₹1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation.' Live Events The company's strategy appears aligned with broader sectoral trends, as India's real estate market continues to benefit from improved affordability, lower interest rates, and increasing demand for premium housing. The recent 50-basis-point repo rate cut by the Reserve Bank of India, along with a 100-bps CRR reduction, is expected to improve liquidity and spur demand further, offering a favorable outlook for both developers and end-users. Puravankara is also progressing with its commercial portfolio, remaining on track to complete 2.2 million sq ft of commercial projects in FY26. This diversification complements its growing residential pipeline across nine cities including Bengaluru, Mumbai, Chennai, and Hyderabad. As of March 31, 2025, Puravankara had completed over 90 projects spanning approximately 53 million sq ft and holds a total land bank of around 25 million sq ft. With ongoing projects aggregating to 37 million sq ft, the developer is expected to sustain growth momentum through a mix of redevelopment, plotted development, and commercial ventures.
The Wire
11-07-2025
- Business
- The Wire
Puravankara Pre-Sales at Rs 1,124 crores in Q1, Price Realisation Up by 9%
Ashish Puravankara, Managing Director, Puravankara Limited Bengaluru, India: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, 'As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1FY26, despite no new launches, we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have recently been selected as the preferred developer to redevelop eight housing societies in Chembur, unlocking a GDV potential of over Rs 2,100 crore. This marks a significant step forward in our efforts to create value in established urban locations. Further, we have entered into a Joint Development Agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation.' Key Highlights • Puravankara selected as preferred developer for redeveloping eight residential societies in Chembur, Mumbai, unlocking over 1.2 million sq. ft. of potential across ~4 acres, with an estimated potential Gross Development Value (GDV) of Rs 2,100 crore. • Entered into a joint development of a 5.5-acre land parcel in East Bengaluru, with an estimated combined potential GDV of over Rs 1,000 crores. • Achieved quarterly sales value of Rs 1,124 crores for Q1FY26 when compared to Rs.1,064 crore in Q1FY25; up by 6% y-o-y. • Achieved quarterly sales volume of 1.25 million square feet for Q1FY26 when compared to 1.29 million square feet in Q1FY25. • Average price realisation in Q1FY26 increased to Rs 8,988 /sft, up by 9% from Rs 8,246/sft in Q1FY25. • Achieved quarterly customer collections from the real estate business of Rs 857 crores in Q1FY26. • The company is on track to complete 2.2 million square feet of commercial projects this year. Outlook India's economic outlook for FY26 remains positive, with GDP growth projected to be between 6.2% and 6.5%, supported by resilient domestic demand and robust rural consumption. The Reserve Bank of India, in its June 2025 policy review, delivered a 50-basis-point cut in the repo rate, bringing it down to 5.50%, while also reducing the Cash Reserve Ratio by 100 basis points to 3% to inject liquidity into the system. These measures are expected to stimulate credit growth and further lower borrowing costs, benefiting both end-users and developers. Inflation remains within the RBI's target band, allowing policy to remain growth supportive. The real estate sector continues to strengthen, driven by steady demand for premium housing and robust office leasing from IT, BFSI, and GCC companies. With improving affordability, lower home loan rates, and rising sector consolidation, Puravankara is well-positioned to leverage these tailwinds. (Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.).
Time of India
11-07-2025
- Business
- Time of India
Puravankara posts pre-sales of ₹1,124 crore in Q1 FY26
NEW DELHI: Puravankara has recorded pre-sales of ₹1,124 crore in the first quarter of FY26, reflecting a 6% year-on-year growth despite no new launches during the quarter. The performance was underpinned by a 9% rise in average price realisation to ₹8,988 per sq ft, supported by steady sustenance sales across projects. Sales volumes for the quarter stood at 1.25 million sq ft, while collections from homebuyers totalled ₹857 crore. The company also bolstered its development pipeline by adding projects with a combined potential gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur , Mumbai — spanning four acres and offering over 1.2 million sq ft of saleable area — with a GDV potential of ₹2,100 crore. In addition, the company entered into a joint development agreement for a 5.5-acre land parcel in East Bengaluru , with a projected GDV of ₹1,000 crore. Ashish Puravankara , managing director of the company said, "In Q1FY26, despite no new launches we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections." As part of its ongoing commercial portfolio buildout, the company reiterated that it remains on track to complete 2.2 million sq ft of commercial projects in FY26.
Business Standard
11-07-2025
- Business
- Business Standard
Puravankara records 6% YoY rise in pre-sales to Rs 1,124 crore in Q1 FY26
Puravankara reported 6% increase in pre-sales to Rs 1,124 crore in Q1 FY26 from Rs 1,064 crore in Q1 FY25. The company has achieved quarterly sales volume of 1.25 million square feet for Q1 FY26 when compared to 1.29 million square feet in Q1 FY25. The average price realisation improved by 9% YoY to Rs 8,988 per square feet in Q1 FY26 from Rs 8,246 per square feet in Q1 FY25. Puravankara has achieved quarterly customer collections from the real estate business of Rs 857 crore in Q1 FY26. It further stated that it is on track to complete 2.2 million square feet of commercial projects during this year. Ashish Puravankara, managing director, Puravankara, said: "As we enter our 50th year of operations, we take pride in the trust we have earned and the milestones we have accomplished along the way. In Q1 FY26, despite no new launches we recorded a 6% year-on-year growth in pre-sales, reaching Rs 1,124 crore, and delivered strong collections driven by resilient sustenance sales, reflecting continued confidence from homebuyers in our projects. We are particularly excited about the momentum in our redevelopment strategy in Mumbai, where we have been recently selected as preferred developer to redevelop eight housing societies in Chembur, Mumbai, unlocking a GDV potential of over Rs 2,100 crore. Further, we have entered into a joint development agreement for a 5.5-acre land parcel in East Bengaluru, with a GDV potential of over Rs 1,000 crore. These initiatives reflect our sharp focus on strengthening our presence in key micro-markets and driving long-term value creation." Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs. The scrip declined 2.01% to currently trade at Rs 285.05 on the BSE.
