Latest news with #PuravankaraLtd
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.
Business Upturn
19-06-2025
- Business
- Business Upturn
Puravankara shares surge 6% after subsidiary secures order worth Rs 272 crore
Shares of Puravankara Ltd rallied 6% in early trade after its wholly owned subsidiary, Starworth Infrastructure & Construction Limited, received a significant civil and finishing works order. As of 9:15 AM, the shares were trading 5.38% higher at Rs 293.90 The contract, valued at ₹272.02 crore, is for the construction of a residential apartment project named 'TRU AQUAPOLIS' in Varthur, Bengaluru. Awarded by TRU Dwellings Private Limited, the project falls under an EPC-commercial contract model. The scope of work includes civil and finishing services for the residential complex, with the execution to follow a defined timeline and terms specified in the formal agreement. The project is domestic in nature, with no involvement of promoters or related parties, as confirmed by the company. This order strengthens Starworth Infrastructure's growing project portfolio and signals strong momentum in the Indian residential construction sector. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
12-05-2025
- Business
- Business Standard
Here's why Puravankara share price soared 10% on May 12; details
Puravankara share price: Real estate player Puravankara shares were in demand on Monday, May 12, 2025, with the scrip rallying up to 9.74 per cent, to an intraday high of ₹241 per share. At 9:19 AM, Puravankara share was trading 9.29 per cent higher at ₹240. In comparison, BSE Sensex was trading 2.20 per cent higher at 81,199.73 levels. Catch Stock Market Updates Today LIVE What triggered the rally in Puravankara share price? The uptick in Puravankara share price came after the company announced a joint venture (JV) with KVN Property Holdings LLP, to develop a 24.59-acre land parcel in North Bengaluru. The project's estimated Gross Development Value (GDV) is in excess of ₹3,300 crore, Puravankara said in a statement. The land parcel has a total saleable area of approximately 3.48 million sq. ft., and the project is expected to be launched in the next six months. 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction. The scale, location, and partnership model of this project position it as an ideal platform for integrated development that resonates with the aspirations of urban homebuyers. It aligns with our broader vision of creating high-quality, community-focused housing across emerging corridors,' said Ashish Puravankara, managing director, Puravankara. Leadership changes The company has announced the appointment of Mallanna Sasalu as CEO, Puravankara Ltd – South, subject to the approval of the Nomination & Remuneration Committee and Board of Directors of the Company. Furthermore, Abhishek Kapoor has resigned from the position of CEO and executive director of the company. ALSO READ | Will Sensex, Nifty rise or fall this week? Key levels to track About Puravankara Puravankara Group, headquartered in Bengaluru, is a real estate developer with a strong pan-India presence. Over the last five decades, it has launched three residential brands—Purva, Provident Housing, and Purva Land—to serve diverse housing needs. Its subsidiary, Starworth Infrastructure, delivers tech-driven construction solutions, while Purva Streaks offers integrated interior design services. The group has also entered the Grade-A commercial real estate space with ~3 million sq. ft. under development. As of December 31, 2024, Puravankara has completed over 85 projects spanning ~51 million sq. ft. across nine cities, with a land bank of ~30 million sq. ft. and ongoing projects totaling 33.08 million sq. ft.
The Print
11-05-2025
- Business
- The Print
KVN Property, Puravankara to jointly develop Rs 3,300 cr worth housing project in Bengaluru
In a statement on Saturday, KVN Property has entered a joint venture with the Puravankara Group to develop a 24.59-acre land parcel in North Bengaluru. KVN Property has been founded by Venkat K Narayana, former CEO of Prestige Group. Bengaluru, May 10 (PTI) Realty firm KVN Property Holdings LLP has tied up with Puravankara Ltd to jointly develop a housing project in North Bengaluru with a total revenue potential of more than Rs 3,300 crore. The project has a projected Gross Development Value (GDV) of over Rs 3,300 crore. The project has a potential saleable area of about 3.48 million (34.8 lakh) sq ft. The project is slated for launch within the next six months. Ashish Puravankara, Managing Director, Puravankara Ltd, said, 'This joint venture highlights our sustained confidence in the North Bengaluru market, where we have already demonstrated strong traction.' KVN Properties Promoter Venkat K Narayana said, 'As an integrated land aggregation platform, our core strength lies in identifying and consolidating strategic land parcels across high-growth corridors. This JV, for our 24.59 acres of land with Purvankara in a high-growth corridor has huge demand for mid-income residential housing and we believe that Purvankara's development expertise along with their marketing and delivery capabilities would bring life to this land'. Narayana said his company's model is designed to address structural inefficiencies in India's real estate sector, particularly those related to land acquisition. 'By focusing on aggregating clean, contiguous, and development-ready parcels, KVN aims to accelerate project timelines and minimise risks for its developer partners,' he said. As of December 31, 2024, Puravankara has completed more than 85 projects measuring around 51 million sq ft across nine cities — Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa. The company's total land bank is around 30 million sq ft, and ongoing projects add up to 33.08 million sq ft. PTI MJH TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Abhishek Kapoor tenders resignation as Group CEO from Puravankara Group, Mallanna Sasalu appointed as CEO-South
Bengaluru-based real estate developer Puravankara Group has announced that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation. The company also announced the appointment of Mallanna Sasalu AS CEO-South. The company in its regulatory filing said that Abhishek Kapoor, Executive Director and Group CEO, has tendered his resignation effective from the closure of business hours on May 9, 2025. The company in the regulatory filing added that Mallanna Sasalu has been appointed as the CEO-South, with effect from May 9, 2025, subject to the approval of the nomination and remuneration committee and Board of Directors in its forthcoming meeƟngs, respectively. According to the company, Sasalu is a seasoned professional with over 32 years of extensive experience spanning engineering, architecture, and real estate development in both India and Canada. Also Read: Puravankara Ltd in advanced stages of discussion for redevelopment of 3-4 housing societies in Mumbai: Group CEO Sasalu holds a degree in Civil Engineering and is an alumnus of Harvard Business School, adding a strong academic foundation to his diverse professional expertise, the company said. Currently, Sasalu has been instrumental in scaling Provident Housing Ltd. to new heights. The company said in a statement that his strategic leadership and operational expertise have positioned him as a pivotal figure in the organisation's growth and success. On May 9, the company also announced a joint venture to develop a 24.59-acre land parcel in North Bengaluru. According to a statement issued by the company, the project has an estimated gross development value of ₹3,300 crore. Also Read: Puravankara Group announces 24.59-acre joint venture project in North Bengaluru, having ₹3,300 crore potential According to the company, the land parcel has a total saleable area of approximately 3.48 million sq ft, and the project is expected to be launched in the next six months.
