Puravankara Ltd Share Price – NSE /  BSE

Realty, Small Cap

However, revenue from operations jumped 34.53% to Rs 495.54 crore in Q2 FY25 as against Rs 368.33 crore posted in corresponding quarter previous fiscal.

The company reported pre tax loss of Rs 17.06 crore in the second quarter of FY25 as compared with pre tax loss of Rs 11.22 crore posted in Q2 FY24.

Net debt stood at Rs 2,430 crores, and the net debt-to-equity ratio stood at 1.29 for Q2 FY25. The weighted average cost of debt stood at 11.62% as of 30 September 2024.

As of 30 September 2024, the company’s balance collections from sold units (completed + ongoing) in all launched projects stood at Rs 4,520 crore. Total estimated surplus from all completed and ongoing projects is Rs 7,490 crore.

Around Rs 945 crore has been invested in land, with a potential Gross Development Value (GDV) of Rs 9,700 crore from 5.8 msft of new acquisitions. This showcases the robust pipeline of new business being added for the company's future growth, it added.

In the second quarter of FY25, customer collections increased by 18% YoY to Rs 1,033 crore. Sustenance sales grew by 14% and increased price realisation for Purva by 17% and Provident by 15% year on year.

Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara, said, “The company has made sizeable investments of Rs 945 crores in land acquisition, with a potential GDV of Rs 9,700 crores from 5.8 msft of new acquisitions. Increased sustenance sales for H1FY25 of 14% y-o-y, along with increased price realisation in Q2FY25 for Purva by 17% and Provident by 15% y-o-y, showcases the strength of the brand along with customer appreciation of product quality and service.

Operational efficiencies are visible through our increased customer collections amounting to Rs. 1,999 crores for H1 FY25, an increase of 27% y-o-y. In the coming two quarters, the company is focused on new launches amounting to around 12.27 msft with a potential GDV of around Rs. 13,625 crores and project deliveries for the remaining two quarters.”

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.

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Net Loss of Puravankara reported to Rs 16.78 crore in the quarter ended September 2024 as against net loss of Rs 11.20 crore during the previous quarter ended September 2023. Sales rose 34.54% to Rs 495.54 crore in the quarter ended September 2024 as against Rs 368.33 crore during the previous quarter ended September 2023.

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Puravankara will hold a meeting of the Board of Directors of the Company on 8 November 2024

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The domestic equity benchmark traded with moderate gains in early afternoon trade. The Nifty traded above the 25,000 level. Bank shares advanced after declining in the previous trading session. Trading could be volatile due to weekly F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex added 285.44 points or 0.34% to 81,746.76. The Nifty 50 index rose 59.70 points or 0.24% to 25,041.60.

In the broader market, the S&P BSE Mid-Cap index rose 0.05% and the S&P BSE Small-Cap index gained 0.72%.

The market breadth was strong. On the BSE, 2,404 shares rose and 1,378 shares fell. A total of 138 shares were unchanged.

Ratan Tata, the Chairman Emeritus of Tata Sons and a recipient of India's second-highest civilian honor, the Padma Vibhushan, passed away on Wednesday at Mumbai's Breach Candy Hospital. He was 86 years old. Tata had been in critical condition and under intensive care. On Monday, he had disclosed that he was undergoing routine medical examinations due to his age and associated health conditions.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 4.69% to 13.46. The Nifty 31 October 2024 futures were trading at 25,160.15, at a premium of 118.55 points as compared with the spot at 25,041.60.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 49.9 lakh contracts at the 26,000 strike price. Maximum Put OI of 41.9 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty Bank index rose 0.75% to 51,391.35. The index shed 0.03% in the past trading session.

Kotak Mahindra Bank (up 2.75%), IDFC First Bank (up 1.4%), Bank of Baroda (up 1.09%), Canara Bank (up 1.04%), Axis Bank (up 1.02%), HDFC Bank (up 1.01%), AU Small Finance Bank (up 0.98%), IndusInd Bank (up 0.79%), Punjab National Bank (up 0.65%) and State Bank of India (up 0.36%) edged higher.

Stocks in Spotlight :

Puravankara added 1.11% after the company reported 18% growth in sales to Rs 1,331 crore in Q2 FY25 from Rs 1,128 crore in Q1 FY25.

GTPL Hathway declined 2.19% after the company’s consolidated net profit declined 62.65% to Rs 12.78 crore in Q2 FY25 as compared with Rs 34.22 crore in Q2 FY24. Revenue from operations increased 9.8% to Rs 855.56 crore in Q2 FY25 as compared with Rs 779.20 crore posted in corresponding quarter last year.

Rashtriya Chemical & Fertilizers (RCF) rallied 6.95% after the company awarded a contract worth Rs 1,000.27 crore to L&T for setting up of 1200 MTPD complex fertilizer plant on lump-sum turnkey (LSTK) basis at RCF, ThaI.

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