Puravankara Ltd Share Price – NSE  /  BSE

Realty, Small Cap

Puravankara will hold a meeting of the Board of Directors of the Company on 31 July 2024.

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The key equity indices continued to trade in a narrow range with strong gains in mid-afternoon trade. The Nifty traded above the 24,550 mark. Oil & gas shares extended gains in the third consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 821.42 points or 1.05% to 80,723.11. The Nifty 50 index added 230.20 points or 0.95% to 24,561.15.

The Sensex and Nifty clocked an all-time high of 80,893.51 and 24,592.20 respectively in mid-morning trade.

In the broader market, the S&P BSE Mid-Cap index shed 0.08% and the S&P BSE Small-Cap index gained 0.14%. The S&P BSE Mid-Cap index hit an all-time high at 47,858.24.

The market breadth was negative. On the BSE, 1,762 shares rose and 2,101 shares fell. A total of 124 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index rose 0.54% to 12,848.75. The index added 1.69% in three trading sessions.

Oil India (up 7.47%), Castrol India (up 1.07%), Reliance Industries (up 1.05%), Oil & Natural Gas Corporation (up 0.85%) and Mahanagar Gas (up 0.02%) advanced.

On the other hand, Indian Oil Corporation (down 4.12%), Aegis Logistics (down 3.25%) and Hindustan Petroleum Corporation (down 2.09%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal rose 0.01% to 6.983 as compared with previous close 6.982.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.5100, compared with its close of 83.5300 during the previous trading session.

MCX Gold futures for 5 August 2024 settlement shed 0.19% to Rs 73,170.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.09% to 104.34.

The United States 10-year bond yield gained 0.82% to 4.224.

In the commodities market, Brent crude for September 2024 settlement added 80 cents or 0.94% to $86.20 a barrel.

Stocks in Spotlight:

Puravankara fell 1.98%. The company’s customer collections jumped 39% to Rs 965 crore in Q1 FY25 from Rs 696 crore posted in Q1 FY24.

AVG Logistics added 2.56% after the company announced that it has been awarded the tender as the authorized partner for express parcel services by Uttar Pradesh State Road Transport Corporation (UPSRTC).

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The realtor’s sales value stood at Rs 1,128 crore in Q1 FY25 in sustenance, marginally up from Rs 1,126 crore posted in same quarter last year, while the planned launches were deferred to Q2 FY25, stated the company.

The average price realisation increased by 6% to Rs 8,746 per sft during Q1 FY25 from Rs 8,277/sft in corresponding quarter previous year.

Further, the real estate developer said it has acquired a 12.77 acre land parcel at Ghodbunder Road in Thane, MMR with a total potential carpet area of 1.82 msft, a 7.26 acre land parcel at Electronics City (Hebbagodi) in Bengaluru with a potential carpet area of 0.60 msft along with the landowner share of 0.83 msft saleable area in three projects by provident in Goa and Bengaluru.

Ashish Puravankara, managing director of Puravankara, said, “We remain focused on replenishing our land bank and have added 3.25 msft in this quarter, comprising of a 7.26-acre land parcel in Bengaluru, a 12.77 acre land parcel in Ghodbunder road, Thane and have also bought out the landowner share of 0.83 msft in three projects by Provident in Goa and Bengaluru. This quarter, we have achieved collections of Rs 965 crores and pre-sales of Rs 1,128 crores from sustenance sales. We will continue to focus on ensuring our planned launches for FY25.”

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 brandsurva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune.

The company reported consolidated net loss of Rs 6.59 crore in Q4 FY24 as compared with net profit of Rs 26.66 crore posted in Q4 FY23. Revenue from operations zoomed 136.5% year on year (YoY) to Rs 919.97 crore in the quarter ended 31 March 2024.

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Hebbagodi is strategically located near Electronics City and is well-connected to other parts of the city, making it an attractive location for residential developments.

The saleable area of the project will be around 750,000 sq ft, with a potential Gross Development Value (GDV) of 900+ crores.

The company also recently announced the acquisition of a 12.75-acre land parcel in Thane’s Ghodbunder Road and Lokhandwala in Mumbai, with a potential total GDV of Rs 5,500 crore over the project lifecycle.

Ashish Puravankara, managing director of Puravankara, said: We are excited to announce the acquisition of this land parcel in Hebbagodi, Bengaluru. It is a mature market with a limited residential real estate and land supply.

The company intends to develop a high end luxury project of approximately 750,000 square feet, bringing in the much-required supply of high-quality homes in the micro market with proximity to major industrial and IT hubs.

With the acquisition of landowner share of 820,661 sq ft in Provident Adora De Goa, Provident Botanico and Provident Capella, along with the 7.26 acres of land in Hebbagodi, the group has added a potential total GDV of Rs. 1,550 crores in addition to the recent acquisitions in Mumbai.

In the previous financial year, we sold around 7.35 million square feet. With planned launches of around 14 million square feet for FY25 from our existing land bank, our focus shall continue to be on business development to replenish our land bank, keeping in mind the future growth plans of the group.”

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 brandsurva and Provident, respectively. The Group has major operations in Bangalore, with considerable presence in Chennai, Kochi and Hyderabad, apart from Pune.

The company reported consolidated net loss of Rs 6.59 crore in Q4 FY24 as compared with net profit of Rs 26.66 crore posted in Q4 FY23. Revenue from operations zoomed 136.5% year on year (YoY) to Rs 919.97 crore in the quarter ended 31 March 2024.

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