Puravankara Clocks Rs. 3,107 Crore In Sales For FY23, 29 Pc Increase In Revenue

Bengaluru (Karnataka) [India]: Puravankara Limited (BSE:532891), one of India’s most trusted real estate players, announced its financial results today for the fourth quarter (Q4FY23) ending March 31, 2023, and consolidated results for FY23.

Commenting on the company’s performance, Ashish Puravankara, Managing Director, Puravankara Limited, said, ‘In FY23, we achieved the highest ever sales revenue of INR 3,107 Crore.

This exemplary performance can primarily be attributed to new launches and continued progress in the execution of our ongoing projects, also resulting in strong collections of Rs. 2,258 Crores.’

He said on the company’s expansion plans, ‘We will continue to put our efforts into expanding our market share. We are actively evaluating projects for acquisition across the geographies we operate in, with a special focus on the Mumbai Metropolitan Region (MMR) and Pune.

Continued consolidation in the real estate industry, and reduced inventory levels to less than 12 months across the country, is indicative of the opportunity and of a long-term positive real estate cycle with increased prices and absorption amid limited supply.’