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By CNBCTV18.com Jan 23, 2023 5:08:51 PM IST (Updated)
Puravankara recorded sales value of Rs 796 crore, up by 20 percent compared to Rs 666 crore in the year-ago quarter.
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In an operational update, the company informed exchanges that it achieved a consolidated sales value of Rs 2,100 crore for the nine-month period that ended in December 2022, which is 33 percent higher compared to Rs 1,576 crore seen in the year-ago period.
For the December quarter, Puravankara recorded a sales value of Rs 796 crore, up by 20 percent compared to Rs 666 crore in the year-ago quarter.
The real estate firm said that the jump in sales was helped by a consistent increase in average price realisation that stood at Rs 7,767 per square foot during the December quarter, up 15 percent from the year-ago period.
Puravankara also pointed out that the increase in sales was accompanied by a jump in customer collections from the real estate business that rose 80 percent to Rs 621 crore from Rs 344 crore in the year-ago quarter.
Last month, in an interaction with CNBC-TV18, Puravankara reiterated its intent to expand its presence in the western markets by focusing on more projects in Maharashtra’s Mumbai and Pune.
Puravankara’s CEO Abhishek Kapoor told CNBC-TV18 that over the next two to three years his company wants 30-35 percent of the sales to come from the western markets.