One of the most trusted and widely admired builders and Developers Puravankara Limited has achieved the highest sale of all the time in FY23 striking the sale of 1007 crores in Q4 and a total sale of 3107 crores. The total growth of total sale has recorded at 29% of the previous year which was 2704 crores in FY22. Despite having the tough situation in the pandemic .
The builders from Bangalore has maintained the business by their prompt delivery, unending customer service, tech-friendly booking policy and unwavering customer satisfaction. This striving attitude fetched a hefty profit this year. This year a great number of new customers entered into partnership which was recorded at 57% in customer collection. This increased the total profit by double the amount than the previous year.
The MD and CEO of Puravankara Limited AshishPuravankara said that, “We expect our pre-sales growth momentum to continue, driven by a healthy pipeline of new launches of 14 million sqft in the coming quarters.”
The subsistent growth of real estate sector has contributed and will continue to contribute a large share of India’s GDP. The average price per square foot has increased by 14% amounting 6838/sqft in FY22 to 7768/sqft in FY23. An estimated amount of 12,582 crores of total balance was recorded by the company from the sold and unsold inventory and also for not for sale. Total surplus amount estimated after calculating the construction cost and inventory is 6774 crores.
Reportedly, the total debt was reduced by 109 crores from 2144 crores as compared to Q2 of FY23 while the debt amount was increased by 100 crores in Q3 of FY23. The weightage of the total debt was11.18% in Dec, 2022. The company has a total land bank of 57 million Square feet.
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