Puravankara Ltd Share Price – NSE  /  BSE

Realty, Small Cap

The key equity indices traded with moderate gains in morning trade. The Nifty traded above the 22,450 mark. Metal shares advanced after declining in the past trading session.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 316.21 points or 0.43% to 74,055.23. The Nifty 50 index added 90.60 points or 0.41% to 22,458.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index added 0.80%.

The market breadth was strong. On the BSE, 2,355 shares rose and 1,062 shares fell. A total of 171 shares were unchanged.

Results Today :

Hindustan Unilever (down 0.24%), Axis Bank (up 0.66%), LTIMindtree (down 0.28%), Nippon Life India Asset Management (up 0.06%), Macrotech Developers (up 1.26%), Syngene International (down 0.17%), 5paisa Capital (up 3.14%), Anant Raj (up 1%), AU Small Finance Bank (down 0.34%), Chennai Petroleum Corporation (up 1.67%), Dalmia Bharat (up 0.85%), DCB Bank (down 1.21%), Equitas Small Finance Bank (down 0.63%), Indian Hotels (up 1.29%), MAS Financial Services (up 0.59%), Oracle Financial Services Software (up 0.88%) and Supreme Petrochem (up 0.75%) will announce their quarterly earnings later in the day.

Buzzing Index:

The Nifty Metal Index gained 1.29% to 9,015.30. The index shed 0.34% in the past trading session.

Welspun Corp (up 3.43%), Jindal Steel & Power (up 2.09%), NMDC (up 1.98%), Ratnamani Metals & Tubes (up 1.92%), Vedanta (up 1.42%), JSW Steel (up 1.2%), Hindustan Zinc (up 1.1%), Tata Steel (up 1.09%), Hindalco Industries (up 1.05%) and APL Apollo Tubes (up 1.05%) advanced.

Stocks in Spotlight:

Puravankara was locked in 5% upper circuit after the company announced that it has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.

Sakuma Exports added 1.31% after the company has entered into a contract amounting to approximately Rs 150 crore for the supply of sugar to the North East, West Bengal, and Bihar regions.

SBI Cards and Payment Services rose 0.78%. The company has launched three variants of its first travel-focused core credit card, ‘SBI Card MILES’, in Mumbai. The card is aimed at bringing holistic travel benefits to travellers of all kinds – travel aspirers to frequent fliers to travel aficionados.

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Puravankara announced that the company has been unanimously selected as the preferred developer for redeveloping a residential housing society in Pali Hill, Mumbai.

Pali Hill is a premium address in Bandra West, with property rates ranging from Rs 1 Lakh to Rs 1.20 lakh per sq ft. The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet area, with over ~2.15 lakh sq ft available for sale, and a potential Gross Development Value (GDV) of over Rs 2,000 crore. Strategically positioned, the residential society is spread slightly over two and a half acres and is one of the largest in the micro]market.

At present, the company is in advanced stages of discussions for the redevelopment of three to four other prestigious housing societies in Mumbai.

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Pali Hill is a premium address in Bandra West, with property rates ranging from Rs 1 lakh to Rs 1.20 lakh per square feet. The project has a cumulative estimated development potential of 4.10 lakh square feet carpet area, with over 2.15 lakh square feet available for sale, and a potential gross development value (GDV) of over Rs 2,000 crore.

Strategically positioned, the residential society is spread slightly over two and a half acres and is one of the largest in the micro‐market.

At present, the company is in advanced stages of discussions for the redevelopment of three to four other prestigious housing societies in Mumbai, the real estate developer said in a statement.

The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brands—Purva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune.

The company reported a net profit of Rs 77.92 crore in Q3 FY24, steeply higher than Rs 22.53 crore recorded in Q3 FY23. Revenue from operations jumped 46.18% to Rs 573.70 crore in the third quarter of FY24 from Rs 392.45 crore posted in Q3 FY23.

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Puravankara has acquired 4,100 equity shares of Rs 100 each at par aggregating to Rs 4,10,000 by subscribing to the private placement of PPL Khondapur Developers.

PPL Khondapur Developers is currently engaged in the business of real estate. It was incorporated during FY24, and it has not commenced any business activities yet and thus it does not have any turnover.

PPL Khondapur will become step down subsidiary company from step down wholly owned subsidiary of the company, post acquisition.

The real estate firm stated that this investment is part of the use of proceeds that will aid PPL Khondapur to meet its expansion plans.

PPL Khondapur is currently engaged in the business of real estate.

The Puravankara Group is involved in real estate development, with residential assets constituting most of its portfolio. It is present in both the premium and the affordable housing segments under the brands—Purva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune.

The company reported a net profit of Rs 77.92 crore in Q3 FY24, steeply higher than Rs 22.53 crore recorded in Q3 FY23. Revenue from operations jumped 46.18% to Rs 573.70 crore in the third quarter of FY24 from Rs 392.45 crore posted in Q3 FY23.

The counter hit a 52-week high of Rs 295.55 in today’s intraday session.

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